dealer profits

In Fall 2020, California Governor Gavin Newsom signed an executive order phasing out gasoline-powered vehicles in support of the state’s mission towards reducing harmful greenhouse gases caused by transportation. As part of the order, new car dealerships will be required to exclusively sell zero-emission vehicles by the year 2035. As a result, the state’s electric vehicle market is expected to...

The global pandemic shifted the way the average American engaged in transportation. Employees were unable to commute to work by public transportation, and the closure of offices reduced commuting. Cars sat in driveways or were sold to pay rent, and incentives to purchase new vehicles disappeared. New car sales plummeted as mass layoffs ensued and disposable income depleted – leaving...

The process for buying a new car is almost unrecognizable to what it once was. Typically, when a prospective buyer began searching for a new vehicle they would head to the dealership – not the internet. While the rise of digitization has presented its challenges, it has also made dealers better positioned for success than ever before thanks to modern...

If you’re a new auto dealer, you’ve probably heard the old saying: sales sells the first car, service sells every car after. If a customer returns to your dealership twice in the first year, there is a 74 percent chance that they will purchase their next vehicle at your dealership. If you can’t get them to return, your window of...