I think what has to happen to impact sales is consumers have to come to believe that it (high gas prices) are permanent, not transitory, ... Buying a vehicle is a long-term commitment -- it's not easy to get out of it tomorrow. Gas prices have spiked in some regions in recent years and we haven't seen any significant impact on sales.
More Quotes from George Pipas:
Once we get the rate of decline starting to narrow on a year-over-year basis, then we can be thinking about stabilizing. But right now we don't have that situation.George Pipas
I feel good about our prospects, given the cars and crossovers in our lineup.
George Pipas
In the New Orleans area, many of our dealers are out of business and have lost their entire inventory.
George Pipas
If there was ever a time to try to make value pricing work, this is the time. If the economy was weak, and if you had a glut of old models, you wouldn't have a snowball's chance in hell of implementing value pricing.
George Pipas
There is a lag factor. A year ago, even six months ago, we were sitting here wondering when consumers would sense that interest rates were going up. I don't think this significantly affects the first quarter.
George Pipas
October wasn't a very good month for anybody. It was pretty much weak from the start and showed little improvement as the weeks progressed.
George Pipas
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