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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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If dealerships are to survive, they must very quickly catch-up and calibrate their businesses to communicate with the consumer more effectively.
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While the majority of new car purchasers take their service needs elsewhere, know that the door to that business isn’t closed but wide open for dealerships.
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