CHAIRMAN'S LETTER
The Ever-Evolving Auto Industry
- Joe Chastang, HADA Chairman, Chastang Ford
Welcome to the end of 2023! I hope this message finds you in good health and high spirits. As we navigate the ever-evolving landscape of the automotive industry, I am pleased to see our business is still thriving, and the demand for vehicles remains robust. While we have experienced a stabilization from the peak in sales, units are consistently moving off the lots. In Q3-2023, the Houston Region's Total Sales were 87,415 units, a slight dip from Q2-2023 at 93,922 units but a notable improvement from Q3-2022 at 78,836 units.
The retail sales for Q3-2023 were down at 78,939 units compared to Q2-2023 at 80,015 units, but there was an increase from the 73,731 units sold in Q3-2022. In the Retail Auto Segment, we sold 17,863 units in Q3-2023, up from Q2-2023 and Q3-2022. These figures indicate a resilient market, and we remain optimistic about the future.
One significant development is the normalization of the vehicle shortage. While the industry has improved models, we find ourselves in another transitional period. Challenges arise with the current interest rates, which have shifted from being historically low to a more challenging scenario for consumers. This shift has prompted consumers to consider more moderate vehicles to align with their monthly budget.
To address this concern, we've seen some incentives added to rates to ease the financial burden on consumers. We anticipate adjustments in the coming year and hope this will positively impact the market.
One encouraging aspect is that standard model vehicles today come equipped with an array of features and options. The safety equipment and details are of high quality and are now available in standard configurations, providing consumers with excellent value for their investment.
Looking ahead, we are eagerly anticipating the Houston AutoBoative Show. This event is a prime opportunity for consumers to witness and experience the latest innovations in vehicle options, enabling them to make informed and intelligent decisions when shopping for their next vehicle. The excitement surrounding the AutoBoative Show is palpable, and we are confident that it will be a resounding success despite the loss of Stellantis' presence in traditional form. Another year combined with the Boat Show will undoubtedly provide additional excitement.
Ultimately, I remind everyone that good service remains the bedrock of our thriving business in Houston. We depend on authentic, caring service everywhere we go, from restaurants to special events, and our dealerships should be no exception. Excellent service is what will set dealerships apart in these transitional times. We appreciate the continued support of the Houston Auto Dealers Association and look forward to a prosperous 2024.
Effectv’s latest TV Viewership Report is out!
Data insights increasingly drive the way in which multiscreen TV advertising is planned and bought. This report, published biannually, provides an ongoing benchmark to help marketers use TV’s reach and precision across screens to be more effective in delivering results than ever before.
The comprehensive data set used for this report is from more than 29 million households, 3B+ impressions, and nearly 14 billion hours of TV viewing in the first half of 2023. Additionally, the Report includes ad exposure data from 40,000 multiscreen campaigns.
Here are some of the key findings included and expanded on in the report:
- Traditional TV is vital - 77% of unique multiscreen campaign reach came from traditional TV.
- Streamers prefer the big screen – 81% of streaming impressions were delivered to the big screen via Connected TV and set-top-box video on demand.
- Highest reaching campaigns include similar elements like 20+ networks, 50+ streaming endpoints, news, and sports.
- Reach peaks when 20-30% of multiscreen investment is allocated to streaming.
- Streaming reaches hard-to-reach households – streaming impressions were 4.6x more likely to be seen within light- and no-TV households.
What does this mean?
As new streaming platforms and apps enter the multiscreen TV landscape, viewers have many options when it comes to accessing content. With traditional TV and streaming convergence and consumer choice at an all-time high, dealers must adapt their strategies to find and reach their audiences effectively with the right combination of TV, streaming, and sports programming.
Download the TV Viewership Report to enhance your multiscreen TV advertising strategies for the coming year.
HADA Scholarship Application Deadline February 16, 2024
In 2023, the Houston Automobile Dealers Association (HADA) awarded $148,000 in scholarships to 74 individuals pursuing secondary education. The scholarships, valued at $2,000 each, are awarded to dealership employees, their dependents, and students enrolled in the ASE program.
The HADA scholarship application process for 2024 is now open through February 16, 2024. These scholarships are available to dealership employees, their dependents, and ASE technician students entering secondary education.
Find more information at https://www.houstoncardealers.com/scholarship-form/.
Q2-2023 Total Sales Were Up Compared to Q1-2023 & Q2 2022
Despite the rather lackluster performance of Q3-2023, sales for 2023 year to date have been lively! Challenges remain after the auto industry was flattened by the pandemic, microchip shortages, supply chain issues, skyrocketing vehicle prices (new & used) rising interest’s rates and the UAW strike that took too long to resolve, and now seem to put the Scrooge sentiment in the upcoming Holiday season. However, pent-up demand for new vehicles & fleet remains high, giving the Houston Region auto industry many reasons to cheer...for the rest of 2023.
InfoNation provides this quarterly report to HADA members, however their capabilities surpass this report and can be customized to any information you need. Contact Ted or Dan to learn more about what InfoNation can provide you. Call 281-937-9187.
Review the full report here.
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Marshall Center for Advanced Careers Triumphs as Winners
Jose Vera also took home the winning alternate team prize in Fort Worth.
In an exhilarating showcase of automotive talent, the Marshall Center for Advanced Careers of Alief ISD was the winner of the highly competitive Student Automotive Tech Competition in Houston. The win earned them the honor of representing their school at the North Texas Automobile Dealers Auto Tech Competition at Texas Motor Speedway in Fort Worth on December 1 and 2, 2023.
We are thrilled to announce that the team placed 13th out of 44 teams in Fort Worth and alternate team member, Jose Vera, showcased outstanding skills and dedication and won first place in the ancillary competition.
If you'd like information on participating in the event next year, email RoShelle Salinas; rsalinas@houstoncardealers.com.
HADA Installation Luncheon
Broadcaster, Kevin Eschenfelder | February 14 at Lakeside Country Club
Sponsorships are still available. Contact RoShelle Salinas, rsalinas@houstoncardealers.com or call 281-980-3434.
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Houston Auto Show 2024
For the third year, the Houston Auto Show and the Houston Boat Show are bringing land and sea lovers together for the Ultimate Surf & Turf event. From Jan. 24 to Jan. 28, 2024, NRG Center attendees can experience the latest vehicles, boats and outdoor activities for just one ticket.
Discover the latest in automotive and marine innovation with a vast array of vehicles and boats on display. From sleek electric cars to robust trucks and luxurious boats, the show has something for every enthusiast. Visitors can expect thrilling test drive opportunities, explore more than 200 outdoor-type vendors, and revel in a diverse range of activities and attractions.
Tickets for the Houston AutoBoative Show go on sale Black Friday weekend, offering an unbeatable early bird discount at just $15. For those who prefer to purchase tickets at the door, admission will be $20. Children under 5 years old get in for free, making it a fantastic family-friendly experience.
We are thrilled to announce that the Houston Auto Show is once again sponsored by Evolve Houston, who will provide the exciting opportunity to test drive cutting-edge electric vehicles. This partnership aligns perfectly with our commitment to showcasing the future of transportation, making it an unmissable feature of this year's event.
Whether you're a car aficionado, a boat enthusiast, or simply curious about the latest in automotive and marine technology, the Houston AutoBoative Show promises an unforgettable experience for all. For more information and ticket sales, please visit www.HoustonAutoBoativeShow.com. Don't miss this fantastic opportunity to witness "Where the Water Meets the Road" at the Houston AutoBoative Show.
Happy Holidays from HADA
Thank you to everyone who joined us the HADA Holiday Dinner, sponsored by Assurant Dealer Services. We all had a lovely evening catching up and dining at Tony's. We wish everyone a happy, healthy and prosperous holiday season.
Send dealer news and events to info@houstoncardealers.com.