Think about that for a minute, and maybe jot down some ideas before moving on.
[MUSIC]
Well, in this case, you will likely do the same thing as your foreign import
competitor and start cutting inventories in anticipation of the slow.
However, you may also want to shift the product mix
of cars that you will be selling on your lot.
The idea here is that you're in a recession.
People are going to be more price sensitive.
Or, as they say in micro economics, the man will become more elastic.
That means you will be better off selling lower priced cars, and
fewer features at value, oriented prices.
But here's something else you will also be able to do.
You can run an aggressive marketing campaign to try and
grab market share from the foreign import segment of the market.