Spring Sink: February Floundered, March Somewhat Level, Dealers Worried - Tire Review Magazine

Spring Sink: February Floundered, March Somewhat Level, Dealers Worried

Dealer comments and survey results reflect increasing concerns over the economy and its impact on future business. Tire and service sales at our panel of more than 100 independent tire dealers nationwide dropped significantly in February, and rebounded slightly in March – but they remain below 2007 results.

Click here for April 2008 charts

Dealer Panel members report that retail tire units appear to be rebounding in March vs. the same month last year. Final February numbers for tire unit sales show a significant decrease of about 2.5% vs. February 2007. Preliminary results for March show a 1% decrease in tire unit sales compared to March 2007. In the individual segments, broadline and HP tire unit sales are running 1% to 1.5% behind 2007, while light truck/SUV tire sales are virtually equal vs. last year.

Service Dollars

Both undercar and underhood service sales dropped dramatically in February, down 1% from year-over-year. Preliminary March survey results show that service sales appear to have flattened out at that level. March 2008 undercar service sales sat at 99.3 vs. March 2007, while underhood service sales indexed at 99 vs. the same month last year.

Dealer Comments

  • People are concerned with the recession but are cautiously optimistic.
  • The economy is hurting locally pretty bad.
  • Fuel prices and the condition of the timber industry is dealing my business a catastrophic blow.
  • Truckers are buying the cheapest tires that they can find…major manufacturers are pricing themselves out of business.
  • People are only buying things that they need. Nothing extra at all.

Become a Contributor

If you would like to participate as a regular contributor to this important study, contact Marketplace Insights at [email protected], or call 530-872-5568.

 

You May Also Like

Tire Industry Labor Shortage: Improve This to Keep Employees

I’ve spoken to many representatives from manufacturers, wholesalers and retailers who report that techs, counter people, drivers and even white-collar team members have walked off the job, failed to report, or given notice, and their businesses have been impacted by these departures. This isn’t just a tire industry issue—and goes beyond the tech shortage that

Tire Industry-Labor Shortage-Great-Resignation

I’ve spoken to many representatives from manufacturers, wholesalers and retailers who report that techs, counter people, drivers and even white-collar team members have walked off the job, failed to report, or given notice, and their businesses have been impacted by these departures. This isn’t just a tire industry issue—and goes beyond the tech shortage that has plagued the industry for decades.

Consider Software Solutions to Streamline Operations

Representatives from several software providers share how solutions drive efficiency and profitability, as well as what to look for when considering a system in your shop.

software-solutions-stock
How Data, Analytics Can Boost Profitability for Tire Retailers

By collecting and analyzing data about a dealer’s sales history, inventory levels and market demand, data and analytics platforms can analyze the performance of each dealer’s store and recommend actionable improvement opportunities.

How to Start the PPP Loan Payback Process

For many PPP loan recipients, it is time to start the repayment process—or file for PPP loan forgiveness. Read on to find out which portion of your loan may be forgivable and how to apply for forgiveness, as well as how to start the repayment process.

Creating a Positive Work Environment

Larry Sutton of RNR Tire Express shares seven different practices that have helped him create a positive work environment.

Other Posts
Using Data to Enrich the Customer Experience

Attaching data or a number to a vehicle’s service record adds a level of transparency to the discussion, and moves it from an “opinionated upsell” to a true, fact-based service need.

Coats Tread Depth Data
Microlearning Makes the Tire Industry Smarter, More Profitable

Microlearning modules can be customized to company and team member needs, where participants can learn through their own experiences and at their own pace.

Setting Up for Success: The Importance of Onboarding New Employees

Onboarding serves to not only give a new employee practical information that they will need in the job, but having that information gives them confidence as they start out in their new position.

employee-onboarding
Online Reputation Management

Eighty-eight percent of consumers trust online reviews as much as they trust personal recommendations.

Online-Business-Management