Drop in auto sales offers service opportunity, Ludwig says
"A professor once gave me some sound advice. He said, 'Saul, if you go into the forecasting business, do it often.' How right he was!" says Saul Ludwig in the November installment of the "Ludwig Report" in Modern Tire Dealer magazine.
"2008 has humbled me," Ludwig continued. "Until the consumer regains confidence and credit availability is assured, business will remain challenging.
"With auto sales down 30% in September, it is clear that more people will keep their existing cars longer, and there lies your opportunity.
"As noted in prior comments, emphasize service -– not just repair work, but service in the broadest sense. Give your customers a reason to want to do business with you."
Ludwig is a managing director with KeyBanc Capital Markets Inc. based in Cleveland, Ohio. Look for the full "Ludwig Report" in the November issue of Modern Tire Dealer magazine.