Report: Chasing Price Hurts Gross, F&I, Service

BEDFORD, Texas — Binary Automotive Solutions announced the release of a new whitepaper that urges dealers to abandon the race to the rock-bottom per-unit price, particularly for new-vehicle sales. “Stop Chasing Price, Start Chasing Value” makes the case for shifting focus to “value” customers — those who prioritize safety and security throughout the sales and ownership experience.

The whitepaper offers a three-step process dealers can use as a roadmap to a new and unique value proposition that can immediately drive traffic to your dealership and improve average front-end grosses while driving higher service RO counts.

Central to the report’s arguments is that F&I departments of forward-thinking dealerships — where dealers and general managers focus on “value-conscious” customers — are watching extended service contract penetrations climb and total F&I profits continue to exceed expectations.

“Our work in dealerships combined with available research proves that dealerships focused on value-minded customers and delivering value through things like a lifetime powertrain warranty program are on the fastest path to higher per-copy averages and busier service departments,” said Binary Automotive Solutions CEO James E. Binkley.

To download your free copy of “Stop Chasing Price, Start Chasing Value,” click here.