inventory management

In the ever-competitive world of automotive sales, car dealerships are always looking for an edge. One way to stay ahead of the competition is using a customer relationship management (CRM) system. CRMs are designed to help businesses manage their interactions with current and potential customers. In this post, we’ll introduce the concept of an automotive CRM and discuss some benefits...

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 US auto industry suffered severe losses during the recent pandemic. Only now are dealerships slowly returning to production and car sales. However, as businesses start to rebuild, many dealerships now face ripple effects from COVID-19 restrictions. The pandemic revealed how unprepared dealers were for business stalling for long periods. As a result, dealership lot management has become increasingly complex....

One of the most significant—yet often ignored—sources of lost income at a car dealership can be battery replacements. A vehicle’s battery charge starts to reduce when it sits on a lot without being started or driven for days or weeks at a time. Once the battery can no longer provide sufficient electricity to start the vehicle, it must either be...

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 These variables—and many others—can cause your automotive inventory management system to become out-of-date faster than ever before.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...

The conversation surrounding connected vehicles in the automotive industry sparked a frenzy in the last ten years, with manufacturers competing for the next greatest technology. In the last year alone, 91 percent of vehicles sold in the U.S. were connected cars, each collecting granular car data with the potential to positively impact both drivers and dealerships at scale. With connected...

The Pacific Northwest and Western Canada experienced record-breaking heat waves in June, and they’re only going to continue as August approaches. Oregon reached an all-time high of 116 degrees Fahrenheit. Seattle also reported an all-time high of 108 degrees. This record breaking heat is especially problematic for car dealerships who invest in lots with over 1200 vehicles, all of which...

When a car remains stationary for days or weeks on end, the battery’s charge starts to diminish. When the battery is unable to provide the electrical power to start the vehicle, it either requires a jumpstart to recharge or is outright drained. When you’re the manager of a dealership lot (or multiple), maintaining the health of hundreds of batteries can...

It’s a familiar scenario. You’re going about your daily business when your bank’s floor plan associate walks through the floor. Your heart starts racing as you unnecessarily crunch numbers in your head, hoping all inventory is in place and accounted for. While a dealership audit is nerve-wracking, advanced technology has made it easier than ever to streamline audits and ensure...

Have you ever been shopping in a mall only to later receive an ad on Facebook for the exact store you entered? How about when you attend a public event and get a notification prompting you to download their featured app? If you answered yes to either of these – or simply have a smartphone – you likely have already...