Auto News says the study came from auditing firm, total dealer compliance. Another takeaway to note…73% of consumers are more comfortable dealing with dealership staff that has completed compliance training.
Max Zanan, President of Total Dealer Compliance said to Auto News that a lack of compliance costs dealerships an average of $792,000 in lost profit. The survey found that 65% of dealers have not had a comprehensive audit in the last 12 months.
Among consumers, there were 200 respondents to the survey. Among the dealerships, there were 500 dealerships nationwide, across 20 brands.