TMCP #569: ASK RICK: Best ROI on Auction Cars and How A Presidential Election Affects Restoration Parts Sales

The MuscleCar Place

Robert Kibbe

Automotive, Leisure, Business, Careers

4.8 • 701 Ratings

🗓️ 1 March 2024

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

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Summary

Rick's Take on the Presidential Election 2024:

Every four years we experience a Leap year and another round of picking a new president. With this event comes another round of presidential ads, throwing of mud, and an substantial amount of finger pointing. I have heard many times in the past from suppliers regarding their outlook on the future around an election cycle and many will stop any unnecessary spending based on the uncertainly of the outcome of an election. Some will even cut out expensive trade shows (SEMA included) that they would normally attend in an attempt to save up for the rainy day they believe is headed their way.

I decided to ask Rick what his experiences were regarding this phenomenon. NPD is run very conservatively and keeps higher than normal reserves for low times and fluctuations in the market so Ricks response was very interesting. He said that he does indeed notice a flattening in sales in relation to a Presidential election. That said, it's not just at election time, but over the whole election year. It seems like everyone gets nervous and holds back on spending. Once the whole thing is over and the parties have been decided, Rick says that people generally go back to buying for their hobbies and it is back to business as usual.

The post TMCP #569: ASK RICK: Best ROI on Auction Cars and How A Presidential Election Affects Restoration Parts Sales first appeared on The Muscle Car Place.

Transcript

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0:00.0	The Muscle Car Place Online Podcast, episode number 569. This week, Rick is here for Ask Rick,
0:07.5	and we are going to hit the myriad of topics yet again. I'm going to talk a little bit of EVEs,
0:12.0	a little bit of building a business on a solid foundation, and a little bit of political stuff.
0:16.8	But not what you're thinking. At least I hope not. This time the question was to understand from someone we all trust if the economics of an election year really are different than any others.
0:27.8	Now granted, this 2024 presidential election, this is a unique one.
0:32.3	But in general, in an election year, you've heard everybody say that business is a little different.
0:37.4	Well, does that really affect us? The restoration aftermarket would Mr. In an election year, you've heard everybody say that business is a little different.
0:39.2	Well, does that really affect us?
0:40.6	The restoration aftermarket.
0:44.3	Would Mr. Rick Schmidt himself even dignify such foolishness?
0:47.5	Or would you say everybody just needs to suck it up and do a better job running the business?
0:49.6	Well, he surprised me to.
0:53.6	If you ask people, they're saying, I'm not really changing my spending habits or anything.
1:00.1	But whatever it might be, for whatever reasons, we always find that election years are just a little bit flat.
1:09.6	This is the Muscle Car Place Online Podcast, brought you by National Parks Depot.
1:16.0	This is the weekly show dedicated to people worldwide who love American muscle cars.
1:22.3	If you're buying, selling, restoring, even racing them, this is the place for you.
1:25.8	Now here's your host, Rob Kibby.
1:30.0	Yes, indeed I am, Rob Kibby, and welcome to the Muscle Car Place podcast.
1:32.1	A fun show, interesting show today.
1:33.1	Rick will be here.
1:38.6	We're going to review four auction cars, I think, is what we ended up doing, picking the best ROI.
	...

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