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Vehicle subscriptions can be a terrific way to get consumers into the vehicles they need and grow EV adoption.
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By differentiating their dealership in the digital realm, dealers can stay top of mind and win market share.
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Initiating a succession plan will bring relief in clarifying your goals and creating strategies that maximize the value of your business and legacy.
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Opportunity will knock in the second half of 2022, but industry leaders still recommend those in retail automotive and F&I proceed with caution.
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Soft pulls can strengthen consumer confidence and trust in making the right decision, and since they aren’t locked into anything, they can resume shopping and even assess varying price ranges.
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Service contract sales can happen in the service lane when dealers tap into this potential, says Jim Fisher, assistant vice president of Dealer Programs for AGWS.
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With these advertising strategies in mind, dealers focusing on promoting electric vehicles will gain a leg up on the competition and electrify more interest in their local markets.
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According to ZeroSum data, new vehicle inventory is expected to rise 2.87% by the end of August while used vehicle inventory could fall 3.48%. At the same time, average new vehicle prices rose 0.10% to $48,429 and used vehicle prices increased 0.53% to $34,242.
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Dealers need to be vigilant in developing a strategic plan to seize new opportunities so that they continue to thrive.
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According to industry experts, the automotive industry is facing upwards of thousands of synthetic identity issues every month, possibly accounting for $1.2 billion in fraud alone.
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