Reacting to Changes in the Marketplace With Michael Chung of Auto Care Association

Michael Chung is the Senior Director of Market Intelligence at Auto Care Association, where he spearheads market research initiatives for the automotive aftermarket sector. He plays a pivotal role in keeping industry members informed about market trends, primarily through monthly content, the promotion of a comprehensive industry data platform, and the publication of an annual factbook. Before joining the association, Michael co-led a market research consultancy, focusing on client relationships and strategic planning. Outside of his corporate responsibilities, he also serves as an adjunct professor, teaching environmental health and water quality to Master of Public Health students.

In this episode…

The tire and auto repair industry has recently encountered some unwelcome marketplace changes: Inflation has increased, interest rates have been hiking up, the cost of capital has risen, and the pandemic led to supply chain issues that have persisted to this day. How does that impact the price of goods and services? Is it all being passed along to the customer?

The Auto Care Association has conducted a member survey, according to Market Intelligence Director Michael Chung, asking executive-level managers about excess inventory, inventory management, and price changes. They found that product, customer, and market strategies have shifted quite a bit over the past several years and some had to find different suppliers. Stocking up on key and critical input materials has been common, Michael says, along with the diversification of supply sources.

On this episode of Gain Traction, Mike Edge welcomes Michael to chat about the strategic shifts executives and managers in the tire and auto industry have made as a result of increased interest rates, inflation, and supply chain difficulties. Michael shares some key takeaways from a recent survey which revealed changes in consumer driving habits and frequency of service.

Here’s a glimpse of what you’ll learn:

• Michael Chung discusses his background as an environmental engineer and how he started working at the Auto Care Association
• Who the Auto Care Association advocates for
• How Michael is working to educate lawmakers on issues pertaining to Right to Repair
• Why competition is healthy for those in the tire and auto industry
• Michael lists some benefits of membership with the Auto Care Association
• Key takeaways from a a member survey regarding the impact of inflation, rising interest rates, cost of capital, and supply chain challenges

Resources mentioned in this episode:

• Michael Chung on LinkedIn
• Auto Care Association
• Right to Repair
• Giorgio Andonian on LinkedIn
• FOCUS Investment Banking
• Mike Edge on LinkedIn
• Tread Partners

Sponsor for this episode...

This episode is brought to you by Tread Partners.

At Tread Partners, we provide digital marketing for multi-location tire dealers and auto repair shops.

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