American car and truck dealers are optimistic about sales momentum in 2014, with a majority expecting increases at their dealerships of more than 10% compared to last year, according to an Ally Financial survey of auto dealers at the 2014 NADA Convention and Expo in New Orleans. More than 90 percent of the dealers surveyed said they had a positive sales outlook for 2014.
The key factor in sustaining these sales will be consumer confidence, according to 49 percent of dealers surveyed. The age of fleet on the road, economic policy and incentives will also be contributing factors. About 75% of dealers said that increases in sales will lead to increased sales of F&I products, such as vehicle service contracts, maintenance and GAP products.
"Dealers are energized about the year ahead and Ally's commitment to their success was reinforced at NADA," said Tim Russi, president of Auto Finance for Ally. "We anticipate a strong year for the auto industry as dealers leverage improved technology to help reach and serve their customers."
Consumers can also expect more interaction with auto dealers in the social media space in 2014, as more than 76 percent of dealers surveyed said they expect to increase their use of social media to reach new and existing customers.
Ally surveyed more than 150 dealers that attended the 2014 NADA Convention and Expo in New Orleans, La. on Jan. 25 and 26.