Tuesday, November 30, 2021
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sales

TrueCar forecasts 36% sales increase for May

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Even though supply chain issues and parts shortages continue to plague the automotive industry, sales seem to be doing quite well. TrueCar has released its May 2021 forecast, which projected the sales of 1,509,221 units. This number is 36% higher than May of 2020 when the global pandemic and shutdowns were in their early stages […]
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sales

Automakers reporting historic sales for April 2021

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After one of the strongest quarters in American auto retail history, several carmakers have already reported the best sales months for their brands ever for April 2021. Reports from Hyundai and Kia as well as Honda and Acura surpassed record March sales, and it’s all but guaranteed many other carmakers will be in the same […]
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customers

Aspects of an excellent customer experience

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One of a dealership’s biggest challenges is tailoring its operations to fit customer needs. In January, JD Power’s Executive Vice President of Strategic Development, Tim Copacia, facilitated a meeting between auto marketing leaders at the 2021 JD Power Auto Summit. After analyzing all of their interactions, he was able to generate the following eight “pillars […]
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recall

Recall repairs stand out as an opportunity for auto dealers

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According to data from CARFAX, the number of vehicles on the road with open recalls declined by 5% in 2020. However, more than 53 million vehicles continue to operate on American roads with a recall campaign that has not yet been completed. By their estimates, that accounts for approximately one in every five vehicles that […]
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Tesla

Tesla leads charge in 81% increase of electrified vehicle sales

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Although it might not be popular opinion yet, the auto industry is certainly moving in the direction of electrified vehicle adoption. Cox Automotive and Kelley Blue Book have found in an analysis of the auto industry in the US that growth in fully electric and hybrid electric models has grown 81% year over year. For […]
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wholesale

Record high wholesale prices reflect tight used inventory, strong sales

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The cost per unit to purchase inventory for the used car lot continues to increase as the second quarter of 2021 kicks off. The Manheim Used Vehicle Index for March reached a record high of 179.2, reflecting an increase of 26.2% from the same time last year. From the previous month, the Index rose by […]
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F&I

Manage customers’ F&I time expectations with 3 simple strategies

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One of the most delicate balancing acts in the sales process is dealing with the amount of time it takes to actually deliver the car to the buyer. Dealership personnel often don’t realize how laborious this part is for the buyers, from coming to the store, choosing the car or truck, dealing with add-on’s, the […]
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reconditioning

How to streamline the reconditioning process in a banner sales...

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Vehicles that look better sell better. But, as in most things, you may find yourself facing decisions on whether to focus on time, quality, or cost when it comes to reconditioning your trade-ins and auction purchases. You aren’t interested in having your inventory sitting around while you put together a reconditioning team. But you also […]
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EV

Are auto dealers and consumers ready for an EV future?

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Last week, in the German newspaper Frankfurter Allgemeine Zeitung, Audi CEO Markus Duesmann said there are no new internal-combustion engines in development at Audi. With Audi and, seemingly, every other automaker moving towards government-mandated production of only electric vehicles, is there really a wide and deep market ready for that influx? Or will the electric market only […]
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EV

Georgia dealers rally against EV direct-to-consumer sales

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Auto dealers in Georgia are pushing back against a bill introduced to the General Assembly that would allow electric car manufacturers to sell their vehicles directly to the public. The bill, HB 460, amends limitations to the previous legislation that limited direct-to-consumer sales by EV carmakers to just five locations, and lifts the clause that […]
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