As the microchip shortage continues to top the industry buzz, the delivery of new vehicles to dealerships across the country has slowed down considerably. And while more people return to the office or take long road trips after excess time spent at home, the demand for vehicles has picked up major steam. With new vehicle inventory […]
While headlines earlier this year forecasted car sales dropping due to low inventory, many auto dealers are now noting record-breaking profit due to the historically high sale prices on both new and used vehicles. But as anyone in the industry already knows, there’s no room for complacency. As more manufacturers recently announced halting vehicle production, we can expect the competition to dial up even further as the inventory shortage is likely to negatively impact sales in early 2022. With Q4 on the horizon, now is the […]
Now more than ever, auto dealers are feeling a next-level competitive spirit as the industry faces ongoing challenges stemming from the COVID-19 pandemic. With the chip shortage bringing vehicle production to a screeching halt, dealers across the U.S. are fighting to gain and retain both clients and inventory, causing entirely revised dealership operations and marketing strategies. As part of standard procedure, most auto dealers incorporate manufacturer marketing into their overall marketing strategy, and […]
Navigate the automotive market through key and developing trends As the daily drive miles return to pre-pandemic levels, opportunities arise to drive increased traffic to your service lane. Our August 2021 Automotive Industry Trends Guide provides the full outlook. Some key highlights from this edition include: Consumer confidence remains strong despite inflation Average sale price and gross per […]
Same Great CRM, More Opportunities to Connect A good automotive CRM or Customer Relationship Management tool serves as a marketing platform designed specifically for the unique customer car-buying journey. From customer service to marketing and sales, automotive CRMs work to assimilate existing DMS or Dealer Management Systems to eliminate the need for repeat entry of customer […]
There is no one-size-fits-all solution for auto dealers trying to navigate the current market. Adding to problems at the dealership, today’s auto consumers are well aware of the industry challenges, as they’re facing historically high prices on used vehicles and scarce availability of new vehicles. Uncovered in our most recent Industry Trends Guide, auto shoppers […]
In a year of back-to-back challenges, the competition between dealerships is now reaching a heightened level of intensity, as predicted. To make matters even more challenging, low inventory levels are being compounded by staffing shortages across the dealership. To survive this stretch, dealers will need to strategically refocus their marketing, sourcing, and staffing efforts to not only maintain but grow their business. Here are […]
Navigate the automotive market through key and developing trends While industry challenges continue to shift, so have the buyer profiles. Millennials and Gen Z combined are now representing 37% of vehicle purchases, meaning now more than ever, dealers need to embrace and enhance the digital experience. Our July 2021 Automotive Industry Trends Guide provides the full outlook. Some key highlights from this edition include: Consumers are saving less […]