Thursday, December 3, 2020
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trade

Tips to enhance the trade-in appraisal process

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In the United States, 43% of new car sales include a customer’s trade-in. 22% of pre-owned sales have a trade involved. Altogether, nearly 16 million trade-ins are taken in by dealerships in the US annually if you extrapolate on NADA Data. However, nearly all car buyers at the dealership already own a vehicle, and very […]
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COVID-19

Finding the bright spots for F&I during COVID-19

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We are always looking for silver linings when things are going haywire in life. The last 6 months navigating the COVID-19 crisis as a nation is no exception. Every day it dominates the national and local headlines and there is nothing positive about it. It’s awful, it’s still here, and it has left an indelible […]
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Black Friday

Lower volume, higher profits the name of the game for dealers...

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In yet another twist on a topsy-turvy year, Black Friday car deals are expected to be less aggressive than they have been in previous years. The prediction comes from industry experts who see an ongoing new car inventory shortage, particularly on the most in-demand models, helping manufacturers and dealers hold profits.  Through October, Edmunds has […]
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OTAs

Connected cars and OTAs: What are the pros and cons for...

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Who knew we would be living in a time when cars began to act like computers? Today’s cars are connected in ways that we have never seen before. Drivers can access Wi-Fi in their vehicles to enjoy expanded entertainment options, track traffic patterns, and even to order food. Nevertheless, one of the most well-known uses […]
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inventory

Used car industry seeing more inventory, all-time high prices

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Customers have more choice and dealers have more to offer shoppers in the used car market, according to vAuto Available Inventory. Used cars have become more plentiful in recent weeks on a combination of factors but despite more inventory, the average list price continues to climb. The trend comes as new car sales have rebounded […]
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subscription

Vehicle subscription options on the rise from car manufacturers

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In the United States, more than 90% of households own a car. However, a shift is happening in the auto industry where urbanites are leaning away from car ownership in the traditional sense. Largely driven by the millennial generation, alternative mobility options are on the rise – options like Lyft and Uber ride sharing as […]
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How dealers can compete with the aftermarket

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In 2019, according to Statista, the average US auto dealership recorded automotive service and parts sales of around 7.3 million US dollars. As an industry, new vehicle dealerships in the US raked in more than 120 billion US dollars in service and parts sales that year. That’s quite a bit of money, but there’s much […]
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inventory

New car inventory levels starting to normalize

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Dealers can start to breathe a little easier as new vehicle inventory levels continue to rise. Cox Automotive’s vAuto Available Inventory data shows that new vehicle supply has pulled out of the toughest part of the crunch since the pandemic began. Despite being in a better position than the past several months, new car inventories […]
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video

Best practices for using video on a dealer site

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We live in an emerging Golden Era of video and photography. The new iPhone 12 can record videos in Dolby Vision format, and they can also be edited on the phone. It’s truly an amazing time when what was once the domain of major filmmakers and multiple thousands of dollars worth of equipment is now […]
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vehicle

Tips for effective vehicle merchandising and marketing – Part 2

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Customers Don’t Always Come Through the Front Door As discussed in part one, the virtual showroom may seem similar to the brick-and-mortar store, but there’s no single entry that you can control. Links that drive the person to the site could land them onto the homepage, a vehicle landing page, inventory search, etc. A recent […]
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