VW CFO Foresees Tighter New Year
Economic pressures expected to make 2023 even more challenging.
Carmakers continue to face microchip shortages and increasing supply costs, though loosening supply scarcity could boost growing inventories.
IMAGE: Getty Images
Volkswagen Group’s chief financial officer painted a gloomy new year’s picture as he looked ahead to 2023.
In an interview with Bloomberg TV, Arno Antlitz said the coming year will present even more challenges than did this year due to inflation and overall economic decline reducing consumer demand.
The automaker will aim to increase productivity and lower fixed costs in order to mitigate the cost of ballooning raw material and energy prices for consumers.
Antlitz said he nevertheless anticipates industry growth, though that growth will be slow, in the single digits, he projects.
He said VW continues to have robust orders into the first half of 2023.
Carmakers are still facing microchip shortages and increasing supply costs, though loosening supply scarcity could boost growing inventories.
Bloomberg said that VW, like many carmakers, is in the midst of all the economic pressures also trying to accelerate its electric-vehicle development in order to catch up with market leader Tesla and meet growing consumer demand and government pressure to slow climate change.
Originally posted on Auto Dealer Today
More F&I
Why Your F&I PVR Is Misleading You
Here’s a handy checklist of the numbers to track in 2026 instead.
Read More →
Auto Consumer Anxiety Presents Opportunity
A survey of U.S. drivers found the majority are concerned about finances and the economy, but those fears make many ready to buy vehicle-protection products.
Read More →
Humble and Hungry: 12 Rules for an F&I Life
Dustin Gingerich, with a decade in the F&I business under his belt, shares his thoughts on leadership, building trust with customers, and the importance of learning and innovation.
Read More →
Focus on the Opening
F&I managers must learn as much as possible about their customers, starting before they walk into their offices. The bulk of today’s consumers expect that, and good results will follow.
Read More →
F&I Reaches for the Sky
The increasingly important profit center continued making gains in the first quarter, according to StoneEagle data, ancillary products proving more popular as consumers hold onto their buys longer.
Read More →
Timing the Market Can Hurt Long-Term Program Performance
For dealer-owned reinsurance entities, avoiding volatility entirely can mean falling behind inflation and missing market rebounds that drive long term surplus growth. Missing just a handful of strong market days can materially impact cumulative returns—an important reminder for long horizon trust and investment strategies.
Read More →
The 90/10 Rule
In this video, Ryan Ruff explains the rule that elite sales professionals use to turn ordinary conversations into unforgettable customer experiences.
Read More →
Your Office Is Talking
What’s the atmosphere saying about you to your customers? You can make minor adjustments and additions that transform your space into one that creates trust with the people on the other side of the desk.
Read More →
F&I Training Fundamentals
How can auto dealerships help F&I managers fulfill their vital role in the most effective ways? Industry expert Rick McCormick shares his insights on the best ways to train these professionals and help them maintain good habits.
Read More →
Not Just Any Tire Will Do
More consumers and businesses are opting for all-season options for various reasons as safety, sustainability and convenience push practical change.
Read More →