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market

Can you keep customers from feeling ‘ripped off’ in the hot...

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Post-pandemic car buying is on fire right now. Cox Automotive estimated that April 2021’s used car SAAR was 41.0 million, climbing by a half-million...
prices

Average new car prices remain steady above $40,000

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American consumers can expect to shell out more than $40,000 for a new vehicle, on average. Kelley Blue Book research estimates that the average...

Experian report highlights intriguing Q4 2020 automotive financing data

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2020 shook up many expectations regarding automotive sales and affordability. With consumers facing job losses due to the pandemic, much felt up in the...
transactions

Average new vehicle transaction price continues to hold above $40k

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The average transaction price for new vehicles in the United States continues to hold the line well above $40,000. Late in 2020, the transaction...
dealer

Most are ready to buy within three weeks of first dealer...

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A study released Thursday shows that the majority of car shoppers are deeper into the sales funnel than dealers often think. The Automotive Buyer Study 2021 by Marchex titled “Trust,...
F&I

All-time high new vehicle prices a reason to emphasize F&I products

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As CBT News has reported previously, the average new vehicle listing price broke through the $40,000 ceiling in December 2020. Throughout the year, average term...
F&I

Is now the right time to try upfront F&I pricing?

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Many years ago, Carmax stormed into the automotive space with the ‘no haggle’ price. What you see on the window sticker is it...no negotiation,...
price

An untold truth: are price reductions good for your dealership?

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Since the early days of the industry, price reductions (markdowns) have been “the” tool used to move inventory as it ages, but now post-pandemic,...
price

Earn Car Buyer Trust: Brand Your Price

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Throughout the last few years, dealerships have been extremely proactive about improving the consumer experience. Because so many consumers now do the majority of...
price

Start Being Candid With Customers Who Ask About Price First

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If there’s one thing dealers could do to improve customer satisfaction in the coming year, it might well be this: Change your answer to...