The automotive industry has been experiencing major decline over the past couple of years but new car dealer McEnearney Quality Inc. (MQI) is reporting a more than satisfactory performance.
In fact, Nicholas Mouttet, president and chief executive officer of the parent company ANSA McAL, said he expected their car business to continue to perform well despite signs that the overall market could further contract.
Mouttet was speaking to the BARBADOS BUSINESS AUTHORITY following the launch of a new programme – In One – which gives customers the opportunity to access, among other things, on the spot financing and insurance, servicing and annual valuation.
“It does not look so positive for the market,” he said. “If I was to guess what would happen this year I would say we could expect further shrinkage in market share which would make it six years in a row that the total market has shrunken, but we expect to sell more cars this year and we are confident the In One will help us to do that.
“We have been able to grow our market share at a time that the market has shrunk. So we have not felt it as much as some of the other car dealers who would have been either stuck at the same market share or are shrinking during the time when the whole pie was shrinking.
He said the reduction in excise tax on imported vehicles a year ago had facilitated a drop in vehicle prices and that would have helped increase the sales of their luxury brands.
That 25 per cent tax reduction is expected to be reviewed next month,?he added.
Mouttet said that the launching of the new programme at the company’s Wildey location last Thursday was an indication that they had carried out careful research to know what the market required.
“We are in the business to grow and not only to grow in terms of financially but in terms of jobs, and we are very confident we will be able to do that. (MM)
