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NADA-TV: Buffett and Van Tuyl Headline Automotive Forum in NYC
Buffett: The Dealer System Works
Click here for more auto industry news at NADAFrontPage.com. .
NY Automotive Forum Special Edition
NADA-TV: Buffett and Van Tuyl Headline Automotive Forum in NYC

Warren Buffett, chairman and CEO of Berkshire Hathaway, and Larry Van Tuyl, chairman of Berkshire Hathaway Automotive, sat down today for an NADA-TV interview discussing a variety of topics during the 2015 NADA/J.D. Power Automotive Forum in New York City.
 
When asked about the state of automotive retailing, Buffett said he's a strong supporter for the current dealer franchise network. "It's a very, very fundamental business," he said. "And it will be a fundamental business 50 years from now and 100 years from now, and we'll still be in the business then, and I hope we're a whole lot larger."
 
Van Tuyl agreed. "The future couldn't be better," he said. "[There are] opportunities to have great people, to offer a future to those great people, to continue to work with our partners as manufacturers to grow our business. We think the acquisition opportunities are great. There are a lot of great dealers out there that want to make sure their businesses end up in the right hands, and we think we can provide that."
 
The 6th annual Automotive Forum, hosted by the New York International Auto Show, was a full-day event that provided insight into the global auto industry from several perspectives—retailing, manufacturing, economic, marketing and technology. Click here to view the NADA-TV interview.
Source: NADA
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Buffett: The Dealer System Works

Speaking about his recent entry into the auto-retailing market, billionaire investor Warren Buffett said today that consumers, manufacturers and auto dealers all benefit from the nation's franchised dealer network.
 
"The dealer system works well for the manufacturer. It works well for the dealer, and it works well for the consumer. It's been around now for a very long time," said Buffett, chairman and CEO of Berkshire Hathaway, at the NADA/J.D. Power Automotive Forum in New York.
 
Earlier this year, Berkshire Hathaway acquired the Van Tuyl Group, the nation's fifth largest private chain of car dealerships.
 
"Usually when a distribution system becomes that firmly established, there's a reason for it, and I just don't see that changing," Buffett said.

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Source: NADA
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Quotable

"The dealer system works well for the manufacturer. It works well for the dealer, and it works well for the consumer. It's been around now for a very long time."

    -- Warren Buffett, chairman and CEO of Berkshire Hathaway, at the NADA/J.D. Power Automotive Forum in New York, NADA, March 30

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