Wednesday, January 26, 2022
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online sales

Increased online sales adoption could signal the in-person experience needs...

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The 2022 Deloitte Global Automotive Consumer Study indicates that concluding a vehicle in-person remains the preferred method for 75% of car buyers. However, more people are attracted to buying their next vehicle fully remote. Dealerships and manufacturers have taken great strides in providing a venue for the growing number who want to take their journey […]
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Ford

Ford valuation breaks $100 billion for the first time as...

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On Thursday, Ford’s stock price coasted upward to just over $25 per share, pushing its market value past the $100 billion-dollar mark for the first time ever. The market movement comes as investors see Blue Oval’s electrification plans in a positive light and expect Ford to surge in popularity in the coming years.  Deutsche Bank […]
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sales

Modest increase in 2022 sales forecasted by NADA

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The National Automobile Dealers Association (NADA) released their 2021 U.S. auto sales analysis along with their forecast for 2022’s sales climate. After a year of constrained sales due to the pandemic and inventory shortages, NADA’s economists believe that 2022 sales will experience a modest increase and a slow return to more normal staffing levels at […]
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luxury vehicle sales

Luxury vehicle sales push higher, incentives drop lower in December

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December’s high-end vehicle sales are normally higher than the rest of the year, and this past December maintained that trend and even pushed it further. Luxury vehicle sales accounted for 18.4% of the total sales through the month, according to Kelley Blue Book. Strong numbers for the month include above-MSRP pricing for luxury models and […]
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customers

Report identifies six customer journey challenges the auto industry faces

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Customer feedback and surveys have unveiled areas in the auto retail industry that need to change for a better sales experience as well as ownership experience. Some areas like a seamless transition in an omnichannel sales environment have seen great strides made while other areas of auto retail seem the same as they did decades […]
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car

U.S. car preferences remain conservative and traditional, according to Deloitte...

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Americans prefer to keep their transportation options more traditional than most other countries. That’s what the 2022 Global Automotive Consumer Study by Deloitte discovered, identifying several key areas where the auto industry is struggling to gain traction in the U.S. Rather than embracing new tech, Americans tend to remain skeptical and prefer the purchase and […]
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inventory

3 myths dealers need to know about inventory shortages

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While the dealership world is hoping the inventory crisis will come to a speedy resolve, industry experts aren’t as optimistic. Embracing the challenges and opportunities...
subprime loans

Subprime loans recover, delinquencies drop in new TransUnion report

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Subprime loans for autos have sprung back to nearly pre-pandemic levels, and fewer borrowers are defaulting on their payments. That’s according to TransUnion’s Q3 2021 Quarterly Credit Industry Insights Report (CIIR) issued on November 3. At the same time, the average car loan balance and monthly payment have increased.  TransUnion’s quarterly report identifies credit industry […]
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car shoppers

How to deal with a best price car shopper

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 Most car buyers come into the dealership with the fear that they will be pressured into buying something that’s not really what they want. On today’s Saturday Morning Sales Meeting, David Lewis, President of David Lewis & Associates, talks about dealing with defensive car buyers. To receive a complimentary copy of The Secrets of […]
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Selling peace of mind: capitalizing on customer attitudes toward theft and...

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Every year in the United States, hundreds of thousands of vehicles are stolen. In 2020, the totals jumped by more than 9% over 2019...