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Dealership Profits Decline
While new and used retail sales stagnated, dealerships have been particularly supported by fixed operations and finance-and-insurance profits, according to a new report.
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SEARCHMENUSEARCHWhile new and used retail sales stagnated, dealerships have been particularly supported by fixed operations and finance-and-insurance profits, according to a new report.
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Customer retention takes spotlight as 1.8 million auto leases mature between March and July.
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Average new-vehicle prices up nearly 3% year-over-year in March 2020, despite COVID-19 impact on the economy, according to Kelley Blue Book.
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Crisis triggers a 47.9% decline from 52-week high in December; Kerrigan Advisors release additional insights into automotive retail ramifications.
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What does the future hold for our industry?
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As more stay-at-home orders go into effect and dealership sales departments are required to close, the buying activity on the lanes has decreased and so have the prices according to this week’s Used Car Market Insights report from Black Book and Laura Wehunt, Vice President, Automotive Valuations.
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Defending the company from cyber threats is USEA’s top technology priority.
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NADA has launched a new section of its website, the NADA Coronavirus Hub, for local dealerships looking for information on NADA’s government advocacy, regulatory compliance, educational resources, webinars and government resources related to the COVID-19 pandemic.
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The CARES Act provides $2 trillion of stimulus to individuals, businesses, and hospitals and other impacted industries in response to the economic distress caused by the pandemic.
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Leader Auto Resources (LAR), Resilience Capital Partners enter partnership to enhance services, significantly grow U.S. business.
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APCO Holdings announced they will begin providing free access to digital retailing tools and online training courses designed to help dealers as the coronavirus crisis impacts normal business operations.
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