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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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With these advertising strategies in mind, dealers focusing on promoting EVs will certainly gain a leg up on the competition and electrify more interest in their local markets!
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Bob Giles, TIME Dealer of the Year and owner of Giles Automotive in Lafayette, Louisiana, commits his career to giving back to the communities that have given him so much.
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Internal hiring or recruitment has many advantages, including increased motivation, lower hiring costs, cultural fit, easier onboarding, and improved retainment of employees.
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Most dealerships now embrace digital retailing, but the time has come to move back-office systems to digital.
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Mining the service drive can be a mundane task that’s easy to push aside, but it can also deliver high-quality leads and is the best source of used inventory for your dealership.
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Despite challenges, TransUnion’s Credit Industry Insights Report shows consumer health and demand for new vehicles remains strong.
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Working out a custom plan for your dealership that incorporates your learnings is an effective way to encourage transparency, improve efficiencies, and ensure a smooth, compliant experience for all.
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