A Message from VADA President and CEO Don Hall
October 2023
As I sit down to write this, I do believe it is important to put things in perspective. We are fortunate to live our lives in the safety of our homes, without fear of violence outside our door. This month at VADA our thoughts have been with those overseas impacted by the war and attacks in Israel. My wife Ann and I, along with the VADA team, pray for the victims there and in Gaza.
This month, we interviewed Cox Automotive’s Jonathan Smoke. He is their chief economist and gave us a look at where Virginia ranks nationally. Even if our current unsteady economic climate gives way, he says, the Commonwealth is so strong that we would experience only a mild downturn. Listen to our podcast with Jonathan or read the accompanying article.
It is mixed reviews from dealers at the moment as inventory is up but economic conditions limit consumer purchasing power.
What is unique about the auto industry is that regardless of what the bank rate is, or what the credit environment looks like, or what consumer sentiment surveys say, dealers always find a way to sell a car at a fair price.
We have a way of turning a negative into a positive. It’s an attitude that helps fuel Virginia’s economy and gets us out of historically tight squeezes.
It was the late and great Sen. John Warner who once told our members, "My friends! Your home is your castle. Your automobile is your freedom. God bless the dealers of Virginia.” You are the dispensers of that freedom.
Finally, Election Day is less than three weeks away. Our dedicated VADA Election Center is complete with the resources you and your employees need to vote by mail or vote early in-person. Be sure to give your people flexibility to vote when and how they choose. Do your research, and let’s elect candidates who support the auto dealers of Virginia.