Page 6 - GIADA july2020

THE PULSE OF GIADA

Business as Usual? Not Quite.

stimulus checks) Stay informed and get connected by joining
• Historic highs in unemployment our GIADA Member Facebook page. Just
claims type GIADA member group in the search
• New vehicle supply chain challenges bar and click the request to join. Look for
• Social unrest our Tip of the Day, exclusive to our dealer
and associate members, in our Facebook
MARKET CONDITIONS CAN AND Member Group.
PROBABLY WILL CHANGE QUICKLY:
It is important for dealers to be prudent Please keep your membership current and
in maintaining inventory levels and if you need help with anything call the
ready to react to quickly changing market office at 770-745-9650. We are here to assist
conditions. you any way we can.
GIADA EXECUTIVE I hope you are all having a good summer
DIRECTOR, Most of you may already know these trends and please stay safe!
Amy Bennett exist but it is comforting to know that the
industry giants recognize them and feel Sincerely,
I had really hoped by this issue of the that there could be some improvement on
Independent Auto Dealer the COVID-19 the horizon.
pandemic would be behind us. But, as you
are aware, we are still feeling its social and
economic impact every day. REMINDER to check out our dedicated webpage:
GIADA.ORG/GIADA-COVID-19-UPDATES
I have been on bi-weekly calls with NIADA for the latest information and resources for GIADA members
and other State Executives to see how regarding COVID-19, announcements from the Governor,
other states are coping during these trying small business assistance programs and other key topics.
times. As you all know, circumstances are
different in every state, but the complaints
from dealers are the same everywhere…
Auctions are closed or are online only,
prices are higher and inventory is difficult
to find. Below is a short summary of a call
I was on that included Manheim Auctions
regarding market trends.

SUMMARY Celebrating Over 30 Years in Business
Conversations continue to be about the
virus and our reaction to it.

NEAR TERM TRENDS:
• Although there are still strong retail Automobile Acceptance Corporation (AAC) was founded and operates on the
demands, it appears to be plateauing fundamental principle of offering high quality financial products to meet the needs of all
• New and used retail inventories are our clients. Whether a Franchise or Independent dealer we strive to offer the best
getting tight dealer and client experience when it comes to vehicle financing.
• Wholesale inventories will also get
tighter, but availability should improve We offer valuable and competitively priced products to our dealer partners.
in Q4 Listening to feedback from our clients and dealers allows for the continuous
improvement of our systems, processes, and policies. Operating in multiple states, we
• Resale values likely to continue to offer rates as low as 9% APR, terms up to 72 months and loans amounts up to $50,000.
march higher over the next few weeks
Whether a new or used vehicle, AAC can help your clients get in the vehicle they have
always wanted. Contact us today to become a partner not only in business but in
THERE CONTINUES TO BE building our local communities as well.
TREMENDOUS UNCERTAINTY
BEYOND THE NEXT MONTH OR SO: www.autoacceptance.com
• CARES act impacts expiring Dealer Assistance: 1-800-954-9322
(supplemental unemployment &

4 | GIADA Independent Auto Dealer JUL/AUG 2020