icon-branding Events Icon Created with Sketch. Inventory Icon Created with Sketch. icon-mail-hovericon-mail Marketing Icon Created with Sketch. icon-operationsicon-phone-hovericon-phone Product Training Icon Created with Sketch. Sales Icon Created with Sketch. Service Icon Created with Sketch. icon-social-fb-hovericon-social-fbicon-social-google-hovericon-social-googleicon-social-linkedin-hovericon-social-linkedinicon-social-rss-hovericon-social-rss icon-social-twitter Created with Sketch. icon-social-twitter-hovericon-social-twittericon-social-youtube-hovericon-social-youtube
EXCLUSIVE SNEAK PEEK:

NADA 2020 — Las Vegas, February 15–17

See What's New x

News Coverage

Tax-refund season could be a disaster this year

Share

Facebook Share Twitter Tweet Linkedin Share Email Email

Dealers should be cautious about boosting inventory in preparation for next year’s tax-refund season, Cox Automotive’s chief economist says. The increase in car buying typically fueled by tax refunds may fail to materialize.

The 2017 tax-law changes are likely to reduce the number of shoppers with refunds and the size of those refunds next year, Cox Automotive’s Jonathan Smoke told Automotive News last week here.

“Tax-refund season could be a disaster this year,” Smoke said. “The data suggests that people have been underwithholding.”

Taking a wait-and-see approach could help dealers manage any decline in sales tied to lower tax refunds, he said.

Read more

Sign up here to receive bi-weekly updates on news and trends dominating the automotive industry.