Help WantedMore than 60 percent of dealers are likely to expand their inventory in the next six months. As dealerships expand, they also expect to create more jobs. Of the more than three in five (62 percent) of dealers who say they are “very” or “somewhat” likely to expand their payrolls in 2013:
- More than a third (35 percent) say they expect to hire three to five full-time employees this year;
- Nearly three in ten (28 percent) expect to hire more than six employees; and
- Twenty-eight percent expect to hire one or two employees.
While dealers are looking to hire and expand inventories, they are less likely to seek financing to fund their expansion plans. More than six in ten dealers (65 percent) say they are “somewhat” or “very” unlikely to seek financing. Of the 27 percent who will seek financing to increase their floorplans, one in four (29 percent) will expand their dealerships or remodel their existing facilities.
About Chase Auto Finance Dealers Survey
The inaugural Chase Auto Finance Dealer Survey was an online poll conducted between January 9 and January 23, 2013 among 200 auto dealers (Dealer Principals) across the country. Auto Dealers were drawn from Chase Auto Finance’s national customer base. The survey was administered internally and data was collected in aggregate.About Chase Auto Finance Chase Auto Finance, a division of J.P. Morgan Chase (JPMC), is one of the leading bank providers of auto financing in the country. With a portfolio of more than $49 billion in assets and relationships with more than 75 percent of all U.S. franchised automotive dealers, Chase Auto Finance provides a broad spectrum of products to meet the full range of credit needs of their customers. Chase Auto Finance purchases auto loans and leases from a national network of automotive dealers as well as making auto loans directly to consumers through various Chase channels. In addition, Chase Auto Finance provides commercial loans to auto dealers throughout the U.S. and maintains a reputation for delivering high-quality services as well as a long-term commitment to auto dealers and the overall auto industry. More information can be found at www.chaseautofinance.com.