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The peaks and valleys of a challenging year - December 26, 2009
BEST MOMENTS
Being elected as President of the Toronto Automobile Dealers Association (TADA) in May. It has been an honour and a privilege to serve our association in this capacity.
Pledging, through the charitable arm of TADA, $2 million to Ronald McDonald House Toronto toward building a new house to accommodate more out-of-town families with seriously ill children. This was an enormously proud moment for me, and for our entire association.
Visiting auto shows in Frankfurt and Los Angeles, and meeting dealers and executives from other countries. Those trips reaffirmed my belief that the Canadian International AutoShow ranks among the best in the world.
Travelling to Ottawa on behalf of TADA and the Canadian Automobile Dealers Association to lobby the federal government on important issues such as freeing up working capital for dealers and extending the HST to used-vehicle sales (both goals were achieved).
Writing a weekly column in Wheels and helping to raise the profile of new-car dealers. I appreciate the feedback I've received from readers and colleagues.
Seeing car buyers take advantage of a "buyer's market," with unprecedented savings on new vehicles. Interest rates remained low and manufacturers maintained aggressive incentives, which have been a huge boost to our industry.
Witnessing our industry bounce back from one of the worst recessions on record. GM and Ford announced plans to increase vehicle production in 2010. Hyundai, Kia and Subaru have shown strong gains during an otherwise flat market, and Toyota is adding another shift to its Woodstock assembly plant.
Seeing new-vehicle inventory decline at many dealerships this year, meaning lower inventory costs for dealers.
WORST MOMENTS
January and February were ominous months as Canadian auto dealers dealt with double-digit sales declines and prolonged uncertainty about the economy.
The bankruptcy of GM and Chrysler in the U.S., and the subsequent closing of Canadian dealerships It's tough to see anyone go through that type of loss, particularly in your own industry.
GM may close its Saab operations after talks to sell the division fell through last week. This would spell bad news for Saab dealers and their employees.
The orphaning of customers whose dealerships closed down. I've heard of many cases where car owners now have to drive much farther to get their vehicles serviced.
Being away from family and friends (and my business) while representing our association at industry meetings and events.
Feeling the effect of high unemployment in the retail auto sector.
The emergence of for-profit car-buying services that attempt to discredit new-car dealerships. These companies assert that dealers intentionally try to intimidate and confuse consumers, and they claim to get the best deals for their customers. The information they're selling is readily available to all consumers.
Happy holidays and all the best in 2010!
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