Sharing some interesting used car sales data from last month as the supply of new cars is improving we are also seeing an increase in the availability of used cars for dealers and customers. As each month passes the industry is clearly returning to market conditions that were the norm several years ago.
This is a great opportunity for customers to purchase cars in a far shorter time frame and for dealers to secure incremental income by increasing their finance penetration rates with shorter delivery times.
February used car sales figures have been released today in the Automotive Insights Report (AIR). The figures released by AADA and AutoGrab show that the number of used vehicles listed for sale has increased but the number of used cars sold have dropped.
“Overall, the used car market seems to be presenting opportunities for consumers interested in buying a used car,” said AADA CEO James Voortman.
“A strong start to 2024 new car deliveries is flowing down into the used car market, with a slight rise of 1.3 per cent in the number of vehicles listed for sale in the month.” #AIR#usedcarsales#automotiveindustry
See the full report: https://bit.ly/4cgLqxl
We are proud supporters of Foodbank Victoria and with every warranty sold Presidian Group donates 2 meals to those in need. To date, we have donated over 54,000 meals with Foodbank Victoria with many more to come. We look forward to furthering our relationship and continuing the ongoing support of our community.
Hope everyone had a wonderful Xmas an New Year with friends and family.
I wanted to share a very good article by Steve Bragg on the challenges that dealers are starting to and will face in 2024, it is a very good read.
Looking forward to seeing continued growth and success in 2024 , but we need to be mindful that the market is returning back to what we were experiencing in 2019, and the need to adjust our strategies and monitor our cost base closely moving forward.
Enjoy the read.
For 2024, dealerships will need to be ready to face operational challenges and shifting industry thematics. Demand challenges will require strategic changes to adapt to the current market headwinds. Stay tuned for Part two where we'll delve into the shifting motor industry thematics impacting Australia. Check out the article below for more information on the current operational imperatives.
https://lnkd.in/gckrntNQ
Steve and Kathy Dyson, the DMFA Board members and the entire team would like to thank all DMFA dealers for their support in what has been an extraordinary year.
We are looking forward to further success and growth in 2024 with new dealers & investors becoming business partners with the DMFA family.
We all wish you and yours the very best for the festive season and a happy, healthy and safe 2024.
Managing Director at Dealer Motor Finance Australia Pty Ltd
The motor industry still has a heart and family tradition😀 Kathy and I shared a wonderful birthday celebration with Tony, MariaRosa, and 3 generations of the Bonanno family and close friends. Many highlights including an exquisite impromptu singing performance from a beautiful grand daughter.Great night was had by all thank you the Bonanno family for including us. Steve and kathy
CONGRATULATIONS I Pitcher Partners is proud to be a top 10 firm in the official The Australian Financial Review Top 100 list for 2023!
A heartfelt congratulations to our dedicated people whose expert advice, collaborative efforts and commitment to our clients have propelled our six firms to this significant position.
This has been a pivotal year for mid-tier firms with our National Chairman, John Brazzale noting the network has experienced increased demand for tax advisory services to "navigate complex tax matters and increased ATO attention."
As Pitcher Partners grows, we will continue to be here to support the growth and ambition of our clients and our people.
#AFRTop100#MakingBusinessPersonal#HereforOurClients.
CONGRATULATIONS I Pitcher Partners is proud to be a top 10 firm in the official The Australian Financial Review Top 100 list for 2023!
A heartfelt congratulations to our dedicated people whose expert advice, collaborative efforts and commitment to our clients have propelled our six firms to this significant position.
This has been a pivotal year for mid-tier firms with our National Chairman, John Brazzale noting the network has experienced increased demand for tax advisory services to "navigate complex tax matters and increased ATO attention."
As Pitcher Partners grows, we will continue to be here to support the growth and ambition of our clients and our people.
#AFRTop100#MakingBusinessPersonal#HereforOurClients.