Expert Guest: Jonathan Smoke, SVP Chief Economist at Cox Automotive, joins Jade Terreberry at the AIS NRC Conference where he was presented an award, to discuss the current trending economic shifts and situations as well as providing insights into the recent tariff announcements, the potential for a recession, and strategies for dealers and OEMs to navigate these uncertain times using real-time data and diversified revenue streams.
Guest:
Jonathan Smoke
SVP Chief Economic Advisor
Cox Automotive
Key Takeaways:
Impact of Tariffs: Understand the recent tariff announcements and their immediate effects on the automotive market, including changes in sales pace and wholesale pricing.
Recession Risks: Learn about the potential for a recession and how it could affect different stakeholders in the automotive industry.
Data-Driven Decision Making: Discover the importance of using real-time data to make informed decisions and adapt to rapidly changing market conditions.
Diversifying Revenue Streams: Explore strategies for dealers to diversify their revenue streams and mitigate risks associated with economic fluctuations.
Local Market Variations: Gain insights into how different local markets may be impacted differently by economic changes and the importance of tailored strategies.
Timestamp:
0:00 – 0:31 Introduction
Jade Terreberry introduces the podcast and the guest, Jonathan Smoke, Chief Economist at Cox Automotive.
0:31 – 1:16 Guest Introduction
Jonathan Smoke is welcomed to the podcast, and Jade highlights the relevance of the topic.
1:16 – 3:12 Significance of Tariff Announcements
Jonathan explains the recent tariff announcements and their broader scope than initially expected.
3:12 – 4:32 Immediate Market Impact
Discussion on the immediate effects of tariffs on sales pace and wholesale pricing.
4:32 – 6:09 Recession Risks
Jonathan discusses the potential for a recession and the varying impacts on different stakeholders.
6:09 – 8:33 Data-Driven Decision Making
Jonathan emphasizes the importance of using real-time data to navigate the uncertain economic landscape.
8:33 – 10:06 Diversifying Revenue Streams
Discussion on strategies for dealers to diversify their revenue streams and mitigate risks.
10:06 – 11:11 Local Market Variations
Jonathan highlights the importance of understanding local market variations and tailoring strategies accordingly.
11:11 – 12:34 Closing Remarks
Jade wraps up the episode, thanking Jonathan for his insights and encouraging listeners to subscribe for future episodes.
