Pub. 5 2024 Issue 2

Local West Virginia business that are giving back and celebrating the accomplishments of the community.

92nd WVADA Dealer Family Convention
June 8-11, 2025 & More

Casino Royale – WVADA VIP Charity Gala – February 20, 2025
Stay Tuned!

Motor Vehicle & Title Registration Seminar

In the past couple of years, the auto retail business has shown remarkable adaptability, changing to meet new demands during the global pandemic. Not only have dealers addressed an array of challenges — inventory depletion, supply chain disruptions and a skilled labor shortage — while still having some of the most profitable years, but they’ve also responded to evolving consumer buying preferences. Today, 40% of Americans say they’re prepared to configure and purchase a car online, only visiting the dealership for a test drive.

In the auto industry, there is a gap between the number of women in leadership and those who buy cars. Maintaining that discrepancy is risky because it shows a lack of innovation when serving the market.

With dealer margins coming back to earth after the pandemic, the industry will need to pay closer attention to expenses to maintain a strong bottom line. For most dealerships, the fastest-growing expense over the past couple of years has been interest expense. Lots are full and higher interest rates appear to be here to stay.

It was great to see many of you at the West Virginia Auto Dealer’s Family Convention at Kiawah Island, South Carolina. It was, as always, a wonderful event at a beautiful location. Congratulations to the association and its team on another success.