The level of incentives in the auto industry is not sustainable. While Detroit has resorted to short-term fixes, like raising prices to cover the incentives, 4,000 is the point of no return. You can't keep offering incentives. People will always ask, 'What's next'
More Quotes from Mike Chung:
Over the span of three years we saw the market literally increase five times. We expect to see continued growth over the next two or three years and hybrids to hit 2 of the entire market, which is very significant.Mike Chung
Depending on what kind of volumes they get, which we have no idea, we may see them hit it towards the end of this year, but probably the beginning of next year is when they'll hit their 60,000.
Mike Chung
I've seen advertisements where they say 'this is the price minus this tax credit.' It's not an actual discount, but to some buyers they see it as a discount.
Mike Chung
If you find a vehicle that you really like, now's a great time to get it. But one of the issues with employee pricing is the inventory was depleted very quickly for the most-desirable vehicles.
Mike Chung
But hybrids are more likely to be a stop-gap for something further down the road like fuel-cell technology, which is at least 10 years away.
Mike Chung
The domestics are really making a big push. This is something we've really anticipated. They've really needed to clear out their inventory.
Mike Chung
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