A new Mazda dealership, relocating Doncaster Volkswagen, and our new Audi dealership.
In Australia there are 3,500 new car dealership sites; the new car industry contributes $15 billion to the economy, employs 70,000 people directly and 150,000 indirectly, pays $6 billion a year in wages and generates $4 billion in tax revenue.
So it’s a big industry, however we keep hearing in the media that it is under threat by disruption from all sides; whether it is electric cars, ridesharing, cars being sold directly on the internet, self-driving cars, and the like. All of these things may happen and some are already beginning to happen. It is up to us to adapt and react quickly enough to not be left behind. Also it is important to keep growing the business, as our margins are being squeezed and it is becoming more and more important to have economies of scale.
Here are a few examples of what we have been doing recently have planned in the coming year:
So, as you can see, we are investing significantly in the car business over this year and next year.
We have great faith in the future of the retail car industry and again thank you for your continued business and support. Wishing you all the best for the Festive Season.