NASSAU, BAHAMAS — A local auto dealer said yesterday that vehicle sales were giving no indication of an economic slowdown, noting that his company has already exceeded last year’s sales.
Ben Albury, the Bahamas Bus & Truck General Manager, and Bahamas Motor Dealers Association (BMDA) President told Eyewitness News that ‘robust’ sales were likely the result of pent-up demand.
“I could sell almost everything I could touch,” Albury said.
“We’re still fighting the shortages, just like the food and hardware retailers are. The demand is still robust and sales are strong. I’m not seeing any sign of a recession or anything. I think that the US will fall into a recession in the next few months.
“The warning signs are there. Fortunately for us, we are usually a bit behind on when things like that happen. I’m not saying that it can’t affect us but if it does it will be delayed and hopefully by that time there will be some improvements,” said Albury.
“Regarding auto sales, I just think that there is a lot of pend up demand right now. People are having to go from one dealer to the next to find what they are looking for. Fortunately for me I had some inventory and I ordered above and beyond what I needed. I still have so many people waiting for vehicles.
“For us we have already exceeded last year’s sales. We are well ahead of where would have been last year. I don’t want to think anything negative. We’re sort of on cruise control. After the pandemic I never would have dreamed that my biggest problem would be strong demand and little inventory.”
Albury noted that he was concerned over inflation, with vehicle costs increasing rapidly.
“Over last 12 months, prices on vehicles have gone up 5-12 percent depending on the model. Some brands have seen very sharp increases in cost,” he added.
