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Even if new vehicle inventories remain lower than average, it’s important to promote other avenues to build revenue so that customers remain loyal when inventories eventually return to more normal levels.
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For 17 years, the Dealers’ Choice Awards program has recognized the industry’s best vendors, suppliers, and finance partners by asking dealers and dealership personnel to complete a 42-category online survey. Dealers’ Choice Awards are not easy to come by and this year’s awards recognized 80 companies.
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The "this is the way we've always done it" mindset infects every industry, and auto dealerships are not immune. Using PO systems and getting rid of checks is not a new idea, but it's been surprisingly slow to catch on.
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The transition to EVs is not a matter of if, but a matter of when, and the industry must pay attention to the impacts of the potentially imminent and rapid transition from ICE vehicles to EVs.
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Dealers who build a used inventory strategy can now use it as a backbone of their success moving forward.
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These scams and schemes could impact any dealership’s profits and put their reputations with lenders on the line.
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One of the greatest factors influencing the ability to attract new customers rests in managing customer reviews.
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The auto industry must meet consumers where they are and be intentional in catering to the right audience with the most relevant content.
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Days-to-turn for used retail listings have slightly increased and now sits just above 38 days, which is still lower than what is typically expected.
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An informed consumer can, indeed, be a dealer’s best customer.
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