It's time for automakers to tighten their belts and look for areas of inefficiencies and redundancies. They need to review what discretionary items can be eliminated.
More Quotes from Efraim Levy:
There are not so many people that can actually qualify for zero-percent financing, ... But the incentives get them into the dealership, where they might get something else.Efraim Levy
There is always room for more. There are always challenges in terms of executing on plan and the competition doesn't stand still. They have to start somewhere and this is their base.
Efraim Levy
When they make their contracts, the auto suppliers now assume that auto companies will pay less each year.
Efraim Levy
I'm wondering if this is the bulk of the bad news and is it past us I was looking for something like this, but not quite this bad.
Efraim Levy
There is likely a greater concern about further bankruptcies in the industry. The more common bankruptcies at auto suppliers become, the increased perception that one of the automakers might go that route.
Efraim Levy
It's the vehicles themselves. You have to have products that people are excited about buying. And you also have to make sure they're happy with the ownership process and they're not taking them to the shop more often for a domestic brand than you are for a foreign brand.
Efraim Levy
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