Saturday, October 16, 2021
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delivery

Home delivery, reconditioning bookend digital retailing

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According to Cars.com, 61% of car buyers want their newly purchased vehicle home-delivered. 75% of dealers are now providing some form of home delivery option. Thank the COVID pandemic for kick-starting these percentages. However, we can‘t ignore the aggressive home-delivery consumer marketing by Vroom, Carvana and others for setting the desire and high expectations for this delivery option. […]
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trade-in

Edmunds Trade-In Values Report & what it means for dealers

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Edmunds recently released a report showing the latest average value for all used vehicles. During the month of March, it appears these numbers reached an all-time high, hitting $17,080, which is far more than $14,160 last year at the same time. What is causing this rise in trade-in values and what does it mean for your […]
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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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2021 Vehicle Health Index unveils opportunities for fixed ops

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Drivers who experience a Check Engine light lose trust in their vehicle. But due to the pandemic, many vehicle owners have held onto their cars for longer than normal due to economic uncertainty, meaning more vehicles of extended ages are on the road. According to the 2021 CarMD Vehicle Health Index, Check Engine light issues […]
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AutoNation’s profit triples amid chip shortage

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AutoNation, Inc., one of the largest automotive retailers in the US, reported earlier this week that its quarterly adjusted profit nearly tripled from this time last year. AutoNation’s Chief Executive Officer Mike Jackson told shareholders that these “outstanding results were driven by strong performance in new, used and customer financial services and disciplined expense management.” […]
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How the explosive popularity of camping can be used by...

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The number of people who experienced the great outdoors through camping grew exponentially in 2020. Over the previous year, Kampgrounds of America (KOA) says five times the number of North Americans tried camping for the first time last year. Due to COVID restrictions and travel bans as the summer season approaches, it appears that the […]
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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 transaction price per new vehicle in the US for March 2021 to be $40,472. That represents an increase of 4.3% from 12 months previous, or a dollar-figure increase of $1,660. However, […]
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fleet

How to serve fleet customers while sales are down

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A recent study by Cox Automotive showed that fleet sales are down 20% from 2020. With this lack of sales, your dealership needs to find other ways to earn revenue from your commercial clients. However, these businesses are feeling the effects of the recent pandemic, which is why they aren’t buying new cars in the […]
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data

How data is driving the next era in automotive retail

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Exiting a year of unprecedented highs and lows, the automotive industry entered 2021 with a mix of challenges and opportunities. New supply interruptions and inventory shortages came at the same time as a reduced federal interest rate and the largest stimulus program in history, with signs pointing to industry recovery alongside a vaccine rollout.  This complex combination of factors […]
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Comscore

New report details how shopping intentions changed during COVID-19

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Auto retailers have seen firsthand the impact that shutdowns, restrictions, and pandemic fears have had on their customers. A new report from Comscore Research puts those experiences in focus, identifying that almost three-quarters of consumers who intended to purchase a vehicle within six months, known as intenders, acknowledged that the pandemic changed their plans in […]
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