Advanstar Auto

Advertising and marketing budgets typically are impacted at the middle of the year, but Tom Marx, president and CEO of the Marx Group, says he has seen the opposite. Marx, when interviewed at this year's Global Automotive Aftermarket Symposium (GAAS) in Chicago, says he has been able to convince his clients that spending money on marketing during a down economy can increase market share. He especially sees growth in digital and online communications. Digital communications is much less expensive and more "targetable," he adds.

Tony Cristello, Senior V.P., BB&T Capital Markets, says rising gas prices may be a constant, not a trend. Business owners need to embrace this reality and make adjustments such as tighter controls on building and vehicle heating and cooling and better monitoring of idling trucks, etc., to offset the costs.

Bill Strauss, senior economist/economic advisor of the Federal Reserve Bank of Chicago, says we are skirting a recession during times of a sluggish economy in the US. Areas such as the manufacturing sector and energy related businesses are thriving, while consumer sectors are very weak.

David Carracci, GAAS chairman, discusses the need to educate consumers about preventive maintenance. Regularly scheduled tune ups, oil changes, etc. will help offset the concern over rising fuel prices - which he says are not as high as they seem in relative comparison to the economy.