A Year In Review
Caution Bumps Ahead
CEA estimates the industry’s wholesale dollar volume will come in at $170.1 billion in revenue, up 6.1 percent off 2007. The 6.1 percent growth is “still relatively strong compared to other industries” like home furnishings and auto, DuBravac said. “The consumer is going to cut back in ‘08, but they’re still reallocating (disposable income) towards consumer electronics, so that does help us,” he said.
Nationwide’s Kelly expected 2007 to be “pretty good, but I think for 2008, everybody has to have both eyes open, watch the bumps in the road and not carry any dead weight in your organization,” he said, adding that the economy is at the end of a cycle of growth and prosperity and heading toward downturn. “Our dealers cannot afford to carry any fat for the next 36 months. We’re all going to go through a lot of changes,” he said. “We have to be careful, and there will be opportunities in that.”