"As low as auto sales got, it only has up to go," said Jon Creedon, president of Vancouver Ford, Hyundai and Suzuki.
With his optimism boosted by recent success, Creedon said he's not only feeling good about the industry but looking forward to continued expansion.
Last December, Creedon laid off 40 of his 170 employees, the only time in 28 years in the auto industry that he's had to lay off workers, despite gloomy national headlines, government bailouts and Chrysler and GM's bankruptcy filings, the industry is on the upswing, Creedon said.
As of press time, the U.S. Supreme Court had held up Chrysler's sale to Fiat SpA – a move the U.S. government has warned could lead to liquidation – at the request of several Indiana pension funds and consumer groups that opposed the transaction, according to the Wall Street Journal.
Because of Chrysler's status, it is terminating its dealership contracts, but there is legislation going through on a federal level to reject the termination and reinstate the dealerships.
Alan Webb of Alan Webb Mazda-Dodge said he is on "pins and needles" at the moment because his new $10.7 million facility off state Route 500 and Andresen Road at the Vancouver Auto Park is in jeopardy while details are up in the air.
Webb opened the dealership in April, following a land swap with Creedon.
They planned the land trade and expansion before the financial crisis. Webb's investment is the final of three major expansions among Clark County dealerships, that included Webb, Creedon and Carr Auto Group. Carr opened an $8 million GMC, Cadillac, Buick and Pontiac dealership in 2008.
On the up side, Creedon and Webb said the market is showing signs of improvement.
"The market has bottomed out," Creedon said. "The downward spiral in consumer confidence in sales is over."
While there are continuing issues with unemployment nationwide and in Clark County, he added that lenders are more willing to lend and manufacturers are pulling out all the stops.
"There is a deal out there for everybody," Creedon said.
For Creedon, who moved into new facilities in August 2008 and celebrates four years of owning his Hyundai and Suzuki dealerships this month, the national domestic auto crisis is actually boosting his business because to consumers turning to Ford.
"Ford hasn't taken any of the bailout money," he said. "We don't want it. We're going to get through this without it. And Ford is gaining share every day. Consumers who traditionally bought domestic are buying Ford, even if they traditionally only went with Chrysler or GM."
In March, Creedon's facility earned a visit from Suzuki's vice president because the dealership had the highest sales in Oregon and Washington and was fourth in its 14-state region. Through May, the company held the lead in its main district of Oregon, Washington, Idaho and Montana.
Arun Raha is Washington's chief economist a former member of the national Automotive Market Research Council. Earlier this spring he predicted that "rock bottom" had been reached and that sales would begin their ascent.
Raha and local dealerships expect federal action, including President Obama's handling of GM and Chrysler, in addition to legislation like the "Cash for Clunkers" legislation currently being considered by Congress. The legislation is similar to European programs, also known as "fleet modernization" or "scrappage" that would provide federal vouchers of up to $4,500 for people to trade in their older vehicles for higher gas mileage models. Proponents say a U.S. version of the program could add 1 million sales.
Creedon said it's "very good for consumers" and passage is "certain in my opinion."
