dealer profits

Adapting to a Rapidly Changing Automotive Landscape   The automotive industry is undergoing a transformation, driven by rapid technological advancements and evolving consumer behaviors that significantly impact dealership operations. As dealers adapt to the ever-changing landscape, introducing electric vehicles (EVs) into their inventory and staying attuned to the dynamic car buying trends, there is a constant need for innovation. Amidst...

In the continually changing world of automotive sales, dealerships face various challenges, with vehicle theft posing a significant risk. According to the FBI, over 12,000 auto theft cases occurred on dealership properties in 2022. So, stolen vehicles represent a direct financial loss and can impact insurance premiums and a dealership’s reputation.   This is where stolen vehicle recovery systems come into...

You may have never considered how creating a new car on the assembly line parallels operating an efficient car dealership. Every part, process, and moment is planned and executed precisely for optimal performance and minimal waste.   Your dealership can also operate much like that assembly line—each element should work together seamlessly to drive profits and dealership growth. And just...

Picture this: a customer walks into your dealership excited about buying a new car, but they are met with indifference, long waits, and a seemingly disorganized sales process. The potential joy of a new vehicle quickly turns into frustration, and the customer leaves to explore other options.  Unfortunately, such scenarios are all too common in the automotive sales industry. But...

Imagine this scenario: A customer walks into your dealership on a busy Saturday afternoon, eager to test drive a shiny new model they’ve meticulously researched and discovered in your online inventory. They’re excited, ready to buy, but there’s just one problem. You can’t seem to locate the vehicle on your lot. As the minutes tick away, frustration creeps into your...

Ask most car buyers about the car-buying process, and one of the first things mentioned is that they’re tired of spending hours at a dealership trying to buy a car. How can this be improved? One of the areas we’re seeing the biggest change happens to be meeting customer demands is the online car buying experience.   Haig Partners said nearly...

The automotive industry has undergone significant changes in recent years with the advent of technology and the internet. One of the most substantial changes since COVID has been the shift from brick-and-mortar showrooms to “online showrooms”.   Auto dealerships increasingly recognize the benefits of an online presence, and many focus their efforts into providing more information on their websites and digital...

Cox Automotive surveyed over 1000 US dealerships last month and saw many dealerships express concern over inflation, dealer inventories, and rising costs. In addition, the “Dealer Sentiment Index” showed that dealers have a negative outlook regarding the challenges ahead for the quarter and beyond.  Cox Automotive Chief Economist Jonathan Smoke said, “unique market conditions are causing worry among car dealerships...

The automotive industry is undergoing significant changes and advancements as it continues to transition towards electric vehicles. Consumer trends are constantly changing, automotive technology is rapidly improving, and vehicle pricing fluctuates daily. These variables—and many others—can cause your automotive inventory management system to become out-of-date faster than ever before. What’s more, nearly 46 percent of small businesses don’t have a...

Over the last few years, the automotive industry has been experiencing a rapid shift toward digital car buying processes. End-to-end online car sales and used car buying apps have been gaining traction among younger generations. And with recent inventory shortages and low showroom foot traffic, these are unpredictable times for dealerships. One thing we know for sure moving forward is...