By: Gov Auctions | 25 December 2013
Car Dealers Reflect on 2013’s Volatile Market
The auto industry has certainly seen its share of ups and downs over the past few years. Three car dealerships in Suffolk epitomise the tumultuous, changing scene in the auto industry for dealerships and car dealers alike.
Eddie White, owner of Starr Motors, reported that there was a slight uptick in the amount of traffic his lot received during Black Friday, potentially attestable to the fact that the holidays are approaching and an increase in the free time shoppers have during the holidays.
At the same time, Eley Duke of Duke Automotive reported a similar spike, while noting that Black Friday serves as something of a double-edged sword—consumers are more motivated, but dealerships are also offering very low, competitive prices.
Mike Duman sells used cars, he works in an industry that has seen prices remain volatile throughout the year, and has witnessed this changing landscape first-hand. He notes that nothing in the auto industry occurs in a vacuum. Sales began to dip earlier this year for fear of a government shutdown and remain at an ebb rather than flow.