Car People Blog
Vehicles Set A Blistering Sales Pace
USA Today, 9-4-2014
Trucks and SUVs continued to push automakers sales in August as new designs, cheap loans and stable fuel prices wiped out buyers’ resistance. The industry’s annualized selling pace for the month was a breathtaking 17.53 million, according to Autodata, up from 15.94 million in August 2013.
Every major automaker reported a sales gain, save for GM which slipped slightly despite heroic truck sales.
“Buyers shake off fears, stampede to lift car sales up 5.5%.”
Placement Agencies are a $134 billion industry with 90% of employers using their services in one way or another. If you are one of the automotive or related businesses in the Pacific NW then Car People Agency is your Premier Specialty Placement Agency. You should get to know us if you don't already. Cllick here to learn more.
NBC Evening News June 3, 2014
Forget the recalls and recovery, May saw gang buster sales in the auto industry. They are on track to have the best sales year since 2006. It’s the best indicator of where our economy may be going. “The top leading automakers are leaving analysts’ expectations in the dust” says Phil LeBeam, NBCs auto industry reporter. He sees this as the “reemergence of the American consumer.” With 1.6 million cars sold in May, 11.3% over 2013, the big 3 were big winners. Chrysler with a 16.7% increase. GM at 12.6% and Ford at 3%.
Sales floors are seeing no negative attitudes about the economy. Recalls are from yesterday’s cars. After a long cold winter they are ready to buy todays cars today.
Car Sales Continue to Climb Despite Weather
|Manufacturer||April 2014||April -2014 YTD|
|Nissan / Infiniti||18%||13%|
|BMW / Mini||2%||3%|
|Hyundai / Kia||8%||3%|
|Toyota / Lexus||13%||2%|
|VW Audi Porsche||-1%||-5%|
10,000 New Baby Boomers a Day!
10,000 Baby Boomers Turn 65 Every Day and will for the Next 16+ Years.
26% of the US population are Baby Boomers. Currently about 13% of Americans are over 65. That will jump to 18% by 2030 according to a Pew Research Center projection.
The aging of this huge sector of Americans will dramatically alter every aspect of American life. The job market, in particular, will take a huge hit as these skilled seniors leave a workforce that will struggle to find replacements. We are on the cusp of this transition at this very moment and nationally the shortage of talented people is beginning to show itself.
Having said this, don’t make the mistake of telling a Baby Boomer that they are old. The typical Boomer believes that old age does not begin until age 72, according to the Pew survey. 61% of Boomers say they are feeling more spry than their age would imply. They have the energy of someone 9 years their younger. So whatever age your mindset has tagged as ready to retire – add 9.
HIRE a BOOMER!
Processes at Car People Agency
People are motivated to come to us for a multitude of reasons. Quite often it’s just having a bad day or getting chewed out by their boss. If that’s the case, we ask them to take a little time before jumping into the job market. Redo their resume and give their current job a lot of serious consideration.
Give it a day or two then evaluate their current job and ask themselves these questions:
1. Do you still enjoy your job?
2. Do you like the people you work with, your boss and the business itself?
3. Are you growing at a comfortable rate?
4. Do you feel that you are valued; appreciated?
5. Are you being challenged? Is there room to move up?
6. Do you need to update your skills? If so, is that supported?
7. Are you reasonably comfortable with your rate of pay and benefits?
8. Are you happy?
If the Yeses outnumber the NOs thats one thing, but if there are too many NOs then consider asking for a sit down with your employer and see if there is a way of working it out. If that fails then we’re back to where we started and maybe it’s time we talk.
2014 the “Year of the Employee”
Paulett Eberhart, CEO of CDI Corp., a multinational engineering, information, technology and staffing company, wrote an article in the latest issue of Staffing Industry Review. In it she warns employers to “Hedge Your Bets” as the post-recession job market swings towards the employee. They are demanding higher pay, greater flexibility, more technology and better opportunities. In a less talented market those with the skills you need are holding all the cards.
One key to finding talent, she points out, is the use of specialty recruiters. (Like Car People Agency) They have a network of talent for hard to fill positions. As a result specialty recruiting companies are raising rates as their connections gain value. (Our rates have not changed in over 10 years) It may be a good time to reassess your offerings as an employer and be proactive in addressing this issue. Just a thought.
Bellevue / King County on a Growth Track
Economic indicators continue to be great for the Northwest.
Puget Sound Economic Forecaster ( economicforecaster.com ) expects 280,000 new office jobs to be created in the Puget Sound region over the next several years, roughly 200,000 of them in King County. While this news doesn’t necessarily affect eastern Washington or surrounding states, it is yet another strong positive indicator that confidence in our strong local economy has reached a level that is releasing pent up spending on some very big projects. The Broderick Group ( broderickgroup.com ) that produces an annual Office Market Review, is projecting over 2.288 million feet of new office space with vacancy rates dropping from a high of 16.4% to as low as 8.3% during the same period.
Some Economic Facts are Eye Openers
- "U.S. oil production grew more in 2012 than in any year in the history of the domestic industry, which began in 1859," writes Tom Fowler of The Wall Street Journal.
- Start with a dollar. Double it every day. In 48 days you'll own every financial asset that exists on the planet — about $200 trillion.
- In 1980, there were 15,099 Americans aged 100 years or more. By 1990, there were 36,486, and by 2012 there were 88,510, according to the Census Bureau.
- Two news headlines published on the same day last September summed up the U.S. economy perfectly: "U.S. Median Income Lowest Since 1995, " and "Ferrari sales surge to record highs."
- The International Energy Agency predicts that the U.S. will become the world's largest oil-producer by 2020, overtaking Saudi Arabia.
- Renaissance Technologies, a hedge fund run by James Simons, has allegedly produced average returns of 80% a year since 1988 (before fees), according to Bloomberg. That would turn $1,000 into $2.4 billion in 25 years.
- Since U.S. markets bottomed in March 2009, more than $8 trillion of lost wealth has been recouped.
- Credit card debt as a percentage of GDP is now at the lowest level in two decades.
- According to New York Times writer Binyamin Appelbaum: "Average months between US recessions since 1854: 42. Months since last recession: 42."
- Of the 3.1 million students who graduated high school in 2010, 78.2% received their diplomas on time, according to the National Center for Education Statistics. That was the highest percentage since 1974.
- Federal nondefense discretionary spending — all spending minus defense and entitlements — is on track to hit its lowest level as a share of GDP in more than 50 years, according to data from the Congressional Budget Office.
- The unemployment rate for those with a bachelor's degree is just 3.7% — less than half the nationwide average.
There is growth in every region of the country
and it’s cutting across a swath of industries.
Kiplinger March 2014
US Manufacturing: up 3.5% or better
Autos: With sales likely to top 16 million assembly lines will hum
Aviation: Sitting on a backlog of orders
Chemicals: from paint thinner to plastic resins expanding on cheaper petroleum
Pharmaceuticals: Continue to chug ahead
Biotech: Double digit growth again in 2014
Medical equipment: Steady gains in the US and bright prospects for increased export sales
Semiconductors: Next-gen chips going strong
Heavy Equipment: Rising global demand for building, energy exploration and drilling equipment
The expansion is partly just the pendulum swing after recession cutbacks. But also reflects some big shifts in the business environment. The relative cost of producing on U.S. soil vs. overseas is declining.
Are you ready to retire any time soon.
|Source: U.S. Census Bureau: Research Date: 1.1.2014|
|Average retirement age||62|
|Average length of retirement||18 years|
|Average savings of a 50 year old||$43,797|
|Total cost for a couple over 65 to pay for medical treatment over a 20 year span||$215,000|
|Percentage of Americans over 65 who rely completely on Social Security||35%|
|Percentage of Americans who don’t save anything for retirement||36%|
|Total Number of Americans who turn 65 per day||$6,000|
|Percentage of population that is 65 years of age or older||13%|
|Source: Foxbusiness.com / Fidelity Investments study 2014|
|Average total savings at retirement (Including Tax sheltered plans)||$219,000|
|Median total savings at retirement (Including Tax sheltered plans)||$101,000|
|Percentage of retirees with less than $25,000||15%|
|Percentage of retirees with over $25,000 but less than $240,000||20%|
|Average Net income needed for baby boomers to retire||$4,700|
|Average Net income of baby boomers from savings and Social Security||$2,700|
|Percentage of boomers who have or will fall short||44%|