On GM's Quarterly Report: My 'Things You'd Better Hurry Up On' Edition
I'm always tracking patterns. It requires taking in a lot of information from a lot of sources and keeping emotion out of the conversation.
As your armchair automotive analyst and full-time strategist today, I read General Motors 's earnings reports carefully.
Since I am also keenly aware of what's happening with our dealerships and consumer behavior, I'm a little more concerned than even Mary Barra portends to be.
Here are two of my key takeaways followed by current dealership trends and my recommendations.
1) Tough Timing: Inventory is going to start to free up just as Americans start to tighten their belts. So yes some of the earliest inventory may have ready clients, depending on the product mix this could become a challenge in the very near future.
Dealers: Product mix and purchasing Used vehicles correctly is going to become very important.
Foster Focus Recommends: Establish new metrics looking forward deep into 2023 and even 24, with agility and constant oversight of microtrends.
Assess the people currently in key seats who make Inventory decisions.
2) Belt Tightening: Our OEMs have Already exercised extreme cost construction initiatives internally perit lives internally. Bar it indicates that in 2019 and 20 approximately 4.5 billion dollars in annual costs Is to help prepare for a potential downturn.
Dealers: The only cutbacks we've seen with most dealers is getting rid of or a drastic reduction of #AutomotiveAdjacent services including marketing that they didn't feel they needed during this last 12-24 months.
Foster Focus Recommends: Meet with a professional to review all expense controls. We help people establish a production level per seat. This serves to accurately inform current payroll efforts.
Other key items include reviewing all expenditures, the person responsible for results and recent results.
Finally for today, Ford Motor Company 's results come out today followed by Stellantis tomorrow.
Track these stories closely and be prepared to act.
When our #OEM's are telling their investors they are tightening and expected headwinds, we need to pay attention and respond in kind.
Foster Focus Recommends: It's time now to closely examine very recent changes changes including:
⭐️ Inventory availability, demand and pricing
⭐️ Track consumer behavior and spending
⭐️ Identify and track productivity and profitability per associate, straight through and to your leadership team.
Stay tuned for more updates as these next reports come out. I'm out.
Feel free to join my inner circle by jumping on https://lnkd.in/gc4uhSjZ.
Lead with knowledge, wisdom and courage.
#Automotive #AutomotiveAdjacent #DrivingExcellence #LeadingAutomotiveStrategist #Investor #FinancialFuture #Strategy #Solutions #ExecutiveCoach #LeadershipCoach #Consultant #BusinessStrategy #GrowthStrategies #MakingAnImpact #GROW! #Courage #WomenOwnedAuto
