Crisis on wheels: car dealer and industry leader Mykola Ruiev shares his survival plan for the automotive business in 2025

The U.S. auto industry continues to experience turbulence caused by the spring introduction of 25% tariffs on imported vehicles — a move that, according to Reuters, could cut auto sales in the U.S. and Canada by as much as 1.8 million units this year. And that’s just part of the picture.

Cox Automotive in July reported that the average interest rate for new car loans has surged to 9.03%, while used cars hit an eye-watering 13.71%. Meanwhile, Bloomberg notes that the average monthly car payment has climbed to $762, putting vehicle ownership out of reach for millions of Americans.

In the eye of the storm is Mykola Ruiev, a Florida-based entrepreneur, owner of CAR TRADE GROUP LLC, and a member of the National Independent Automobile Dealers Association (NIADA). With years of experience supplying top dealerships Ruiev sees this not just as a crisis — but as a rare opportunity to reimagine the dealership business model.

A smarter way forward: Ruiev’s three-pronged strategy

1. Shift the focus to certified pre-owned vehicles

“In times of economic pressure, trust is everything,” Ruiev says. 

His firm specializes in sourcing vehicles from rental agencies, banks, and auctions — then reconditioning and selling them to major dealers. He believes the market must now pivot toward certified pre-owned vehicles that offer transparent histories and dealer-backed warranties.

“These vehicles are more affordable and offer peace of mind. For today’s buyer, that’s a winning combo.”

2. Go all-in on digital

Online car buying saw 83% growth in 2024, and Ruiev expects this trend to only accelerate. “Virtual test drives, detailed vehicle histories, and seamless financing options — these are no longer nice-to-haves. They’re must-haves,” he says.

He urges dealers to invest in their digital storefronts, embrace AI-powered customer experiences, and streamline the buying journey across platforms.

3. Rethink financing and inventory

With rates soaring, flexible financing is the only way to keep deals moving. Ruiev recommends partnering with credit unions and banks to offer lower down payments, deferred options, and customized plans that cater to today’s cautious consumer.

Inventory, too, needs rethinking. “Cut unpopular models. Focus on what moves. Offer seasonal deals. Everything should be driven by data,” he advises.

What consumers should do right now

Ruiev doesn’t just have advice for dealers — he has a clear message for buyers too:

1. Look for certified pre-owned vehicles: they’re vetted, warrantied, and far more budget-friendly.
2. Use trusted online platforms: choose those that offer virtual test drives and verified histories.
3. Explore flexible financing: some dealers now offer low or even deferred down payments in partnership with banks.
4. Watch for seasonal promos: spring and fall are often the best times to score deals, as dealers rotate stock.

“Smart buying today means more than just comparing prices. It means comparing platforms, histories, and financing models. Take your time — but stay informed,” Ruiev adds.

The road ahead: Ruiev’s 2025 outlook

Looking forward, Ruiev is cautiously optimistic. He forecasts that if interest rates drop to the 7–8% range by the end of 2025, total U.S. vehicle sales could rebound to 16.2 million units, a 1.2% increase over 2024, citing data from S&P Global Mobility.

But the path to recovery, he stresses, will be defined by digital transformation and consumer trust.

“The certified pre-owned segment is going to be the backbone of recovery,” he says. “What we saw in April wasn’t a collapse. It was a reset. And the smartest players in the market are already adapting.”