As 2024 begins, thoughts turn to questions like, “Will this year turn out better than last year? Worse? The same?” MTD decided to ask our readers.
In a survey of independent tire dealers that we conducted in late-2023, we invited respondents to “tell us anything you’d like to share about 2023 and/or your outlook for 2024.”
And boy, did they ever!
Those of us at MTD certainly can speculate on what 2024 will bring, but I thought you’d find what your peers are saying to be even more interesting. Here are their unvarnished, anonymous comments:
“2023 has not been as strong a year. Lack of government pandemic money and higher interest rates have had an effect.”
“Outlook positive for 2024.”
“Overall, tire sales were flat to down in 2023, but pricing was way up. I don’t think it looks much better for 2024.”
“2023 inflation is a killer. Election year 2024. Expect to be down.”
“2024 can be a big year for tires and service now we are somewhat back to normal every day after COVID and other world events.”
“Seems to be slowing somewhat. We are prepared to move forward, offering the best service possible. We plan on continued growth even with the economy slowing and an election year coming up.”
“Tough.”
“Uptick in 2024.”
“Hope it’s better than 2023.”
“Competition is so fierce that dealers are selling just above cost. Tires are still in short supply.”
“The end is near.” (Editor’s note: Let’s hope not!)
“EV market should have growth capabilities. Overall, larger truck tires and large toy haulers seem to be strong for vehicles. The SUV market is very strong at this time. Will it continue?”
“Inflation is making tire prices go up. Even with flat tire sales numbers with profit margins the same, the gross profit is looking better.”
“Still optimistic on numbers, but feel there will be a slowing down sometime in 2024.”
“2023 was fairly smooth and stayed steady throughout the year. Hoping 2024 remains on this path with a consistently growing customer base.”
“I think it’s going to be a little slow due to the current administration.”
“Adding new store in 2024. Cautiously optimistic.”
“Hopefully up.”
“Stable in 2023. 2024 could be a rollercoaster.”
“Hopefully, 2024 is as good as 2023 was.”
“I see an upswing in medium commercial in 2024. I believe PLT will remain steady – possibly a slight increase.”
“Need to find more help, but it was very difficult to find in 2023. Hope it is better.”
“2023 was an outstanding year for our four stores. Margins were good. Payroll was up, but manageable. Turnover has flattened out to normal. I’m not smart enough to predict 2024, but expecting a reasonably good year.”
“2023 very good and 2024 will be even better.”
“Should be up.”
“Overall sales good. Expect slight increase in 2024.”
“As an optimistic person, I am hoping the economy can get out of its malaise and bring up our industry and others around us.”
“It has been a great year for us. Looking forward to 2024.”
So there you have it - right from the source! On behalf of the entire MTD team, I can tell you that we look forward to serving you in 2024. It’s our sincere hope that you – and your business – will enjoy your best year ever.
