Saturday, October 16, 2021
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high mileage vehicles

Car dealers are cashing in on high mileage vehicles

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The chip shortage has caused remarkable pricing and profit shifts for new vehicles industry-wide, with some dealerships charging thousands more than MSRP. The pre-owned market – particularly vehicles three years old and under – is notoriously hot right now also, largely due to limited supply and inflated new car pricing. But new data in a […]
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Factory orders provide inventory stability and customer loyalty

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New car and used car inventories are strained for many dealerships across North America and many other markets worldwide. The chip shortage has put carmakers in a tough spot, although the chips are starting to flow to factories. But it will be months until stock is replenished on dealership lots and retailers are definitely feeling […]
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chat

Are you using online tools effectively? It might be time...

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According to Insider Intelligence, it’s predicted that consumer retail spending that results from website chat widgets will be as much as $142 billion, fifty times more than it was in 2019. Their popularity has become widely used in every retail sector, and automotive is no exception. Dealerships have integrated some of the most intelligent, seamless […]
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remote service delivery

Why this Vermont car dealership decided to drop remote service...

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Remote service delivery is an operation that many car dealerships have instituted around the country, but one car dealership in Vermont decided to take a new approach. On today’s show, we’re pleased to welcome Mark Alderman, General Manager of Alderman’s Chevrolet-Buick-GMC in Vermont to discuss why he decided to do away with remote service delivery […]
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remote

Is there a case for remote vehicle servicing?

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According to the 2020 NADA Data Financial Profile, dealers commonly expect around three of every ten dollars of net profit to be generated by the service department. Another goal that’s pervasive in dealerships is the goal of 100% service absorption. But for franchised dealers to reach higher absorption rates and add even more to the […]
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Caldwell

What current auto retail conditions tell us about the remainder...

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Joining us today on CBT News is the Executive Director of industry insights for Edmunds.com, Jessica Caldwell. Caldwell shares with us an update on the current inventory situation, what kind of market activity auto retailers can be expecting, and some of the causes of the current sky-high pricing. Caldwell begins the conversation by discussing the […]
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customer experience

Why setting the bar too low leads to employees missing...

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On the latest episode of Mind Your Own Business, host Jonathan Dawson, founder of Sellchology, poses the question – why do business leaders set their goals and expectations for employees so low? Dawson says he wants to get people to start thinking and stretch themselves to their highest potentials. After a recent conversation with a […]
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inventory

Demand is high but low inventory will temper results, according...

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As June brings the first half of a historic 2021 to a close, the forecast for the month’s end remains largely positive. JD Power and LMC Automotive predict that retail new car sales will be well over 1.1 million units. That represents a 12.4% increase over last year’s pandemic sales and a slight 0.3% edge […]
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fixed-ops

How car dealerships can revamp their marketing strategies to increase fixed-ops...

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For weeks, virtually everyone in the automotive industry has been talking about chip shortages and how they will impact different facets of the sector...
service customers

3 ways car dealerships can compete for service customers

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With nearly 50% of the dealership’s profits coming from the service and parts department, it is critical that you appeal to new customers on a regular basis. While earning new clients can be difficult, retaining them is just as challenging with the overly competitive market. Local aftermarket providers are working hard to take customers away […]
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