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.
Dealers need to be vigilant in developing a strategic plan to seize new opportunities so that they continue to thrive.
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.
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!
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.
Internal hiring or recruitment has many advantages, including increased motivation, lower hiring costs, cultural fit, easier onboarding, and improved retainment of employees.
Most dealerships now embrace digital retailing, but the time has come to move back-office systems to digital.
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.
Despite challenges, TransUnion’s Credit Industry Insights Report shows consumer health and demand for new vehicles remains strong.
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.
