The Awakening

I am just back from a long road trip that included two Twenty Group meetings and a stop at the NIADA Annual Convention. I must say I am re-invigorated and encouraged.

We are starting to hear of positive signs across the auto market. BHPH has certainly held up well. Many, if not the majority of our dealers, are up double digits over last year. But now we are also starting to hear the very early indications of some turn around in the traditional subprime market. I believe this is a good thing.

Even in the prime segment I have observed dealers selling units, reaching net profit objectives and holding their own. It is interesting that in down times there is truly a “survival-of-the-fittest” modality, which we have observed across this market. Think of how many dealers you know in your market that have not weathered the storm. I read of one estimate that 6,000 dealers have exited the market over the past 18 months. I think it could be more. So if you are still in business, making payroll, and selling cars you are among the “fittest.”

There are certainly challenges ahead – finance reform, inventory supply, wholesale costs and countless other issues. Some we may not even know of today. But I am observing an awakening of dealer. A realization that, yes, this too will pass. Dealers are starting to invest in the future, we see more of them at conferences, and overall I think there is guarded optimism at the road ahead. It is sort of like the fog is lifting. I think this is good for all of us.

This trend has greatly influenced our approach for our 16th Annual Leedom Group BHPH National Convention. This event is the longest-running convention focused on BHPH. It is where everybody gathers. As a result we take very seriously our job to set the gold standard.

I want to congratulate and thank Chuck Bonanno for accepting the role as Conference Chairman this year. He is in the process of developing the best agenda that is timely and on the mark. I have had the privilege of chairing this event for the past 15 years.

Fifteen years and 7,500 attendees later we are going stronger than ever. And, I still remember many of you that were at our first event in Dallas, Texas in 1996. Chuck will do a great job in taking this event to yet a higher level. I will still be there enjoying the view.

We hope to see many, if not most of you at this event. It will be a showcase of the best tools, products and services in the industry. It will help you find more ways to serve the market and improve profitability. It is truly a “best-of-the-best” event where you can find everything under one roof. If you are not signed up, get signed up today. I hope to see you there.

As we are in the midst of summer, I have a parting thought for you. Years ago I received a small postcard on my bed as a result of turn down service at the Del Coronado hotel during a Twenty Group meeting. It said:

“Somewhere on your journey, don’t forget to turn around and enjoy the view.”

You may reach me at chris@leedomgroup.com. Have a great month and Make it Happen!