Managing Director for Cadillac in Canada Mike Speranzini tells us the secret to surging sales, explains why the interaction between driver and vehicle is one of the more important details in luxury automobiles, and says upgrading dealerships to prep for electric vehicles is “not a task for the faint.”
For the first time in more than two decades, consumers, dealerships and OEMs are contending with record-high interest rates. And this latest drag on the economy comes on top of other challenges facing the auto industry, such as low vehicle inventories and supply-chain disruptions.
EXPERT INSIGHTS: Buy/Sell Trends
Dealership valuations are expected to either remain steady or soften a bit in 2023. But merger-and-acquisition (M&A) activity is expected to remain robust, even as a variety of factors – the emergence of electric vehicles (EVs), high interest rates, inventory shortages and inflation, for example – continue to roil the auto industry.