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Independent cardealerships must remain competitive compared to other independent dealers in their area and large national chains with big budgets, a strong brand identity, and access to a nationwide inventory. It can be tough out there, but many independent dealerships are not only competitive, but they thrive.
Today’s customers are increasingly resistant to answering phone calls from businesses, especially cardealerships. To connect more effectively with potential customers, many dealerships are adopting a text-first strategy, which aligns better with modern communication habits.
In this article, well explore how CarGurus is reshaping the automotive marketplace and changing the car-buying process for consumers and dealerships alike. Simplifying the Car-Buying Experience CarGurus has fundamentally changed the way consumers search for and purchase vehicles.
How Dennis Dillon Auto Group Built a Winning Private-Party Buying Program Most car dealers think the best used vehicles are found at auctions. But to understand why, we need to examine how cardealerships typically work and why Dennis Dillons approach was so different. Theyre wrong. The results were dramatic.
By leveraging data from previous purchases, online interactions and even social media, cardealerships not only increase operational efficiency but also create a highly personalized buying experience.
The world of cardealerships is a dynamic and ever-evolving industry that operates in tandem with economic cycles. In a down market, cardealerships face unique challenges that test their adaptability and resilience. This means offering a wider range of vehicles that cater to varying customer demands and budgets.
DealerAI announced the launch of Multi-Agent Generative System (MAGS), a next-generation AI platform designed to provide cardealerships and auto groups with an advanced, customizable AI solution that enhances online customer interactions, automates key workflows and scales with business needs.
Steering through the world of second-hand vehicles can be tricky, especially when finding a dealer you can trust. This, however, can make your car buying journey more challenging. Transparency: Trustworthy dealers are typically forthcoming with information about their vehicles. So, how do you separate the wheat from the chaff?
At risk is the vast amount of sensitive customer data cardealerships handle, including financial details, personally identifiable information (PII) and vehicle telematics. Third-Party Vendor Breaches Dealerships rely on multiple vendors for financing, service management and CRM systems.
While this is a significant concern, other employees are responsible for internal processes that are equally complex and vital to dealership operations. One such process is the time-consuming vehicle registration and ownership transfer process. This crucial aspect of the sales process requires speed, accuracy and expert knowledge.
In this article, we’ll explore these gaps and discuss why they are crucial to the success of cardealerships in the digital age. The Digital Transformation of CarDealerships The digital transformation of cardealerships has been nothing short of revolutionary.
The Mechanic Doctor - Resources for Amateur and Pro Auto Mechanics Are you in the marketplace for new wheels but navigating the labyrinth of financing options? Enter Buy Here Pay Here dealerships , the underdog heroes of automotive international. The third misconception is that buy-here-pay-here dealerships are unregulated entities.
Among the myriad of industries, cardealerships stand out for their keen adoption of innovative financial practices to sustain profitability. The Cost-Saving Potential For cardealerships, where transactions are typically high-value, the cost savings from adopting these strategies can be substantial.
Happy Wednesday! It’s January 10, 2024, and this is The Morning Shift — your daily roundup of the top automotive headlines from around the world, all in one place. Here are the important stories you need to know. Read more.
It seems like there’s almost never a time when a cardealership doesn’t do something wrong. From selling a car that a customer brought in for repair to taking a customer’s money and then making them go through hell to get it back, even simply doing what they’re in business to do can turn into fraud.
Wholesale Tire boasts a sales mix of 95% tires and 5% vehicle service. Of its tire sales, 90% is retail, with the remaining 10% wholesale to area cardealerships. Wholesale Tire boasts a sales mix of 95% tires and 5% vehicle service. Wholesale Tire offers its customers financing, Wi-Fi, and secure overnight key drop.
Wholesale Tire boasts a sales mix of 95% tires and 5% vehicle service. Of its tire sales, 90% is retail, with the remaining 10% wholesale to area cardealerships. Wholesale Tire boasts a sales mix of 95% tires and 5% vehicle service. Wholesale Tire offers its customers financing, Wi-Fi, and secure overnight key drop.
For cardealerships, this translates to websites that mirror the positive online shopping experience customers have elsewhere. A dealership’s website is the battleground for converting digital window shoppers into potential buyers. To succeed, traditional relationships must be supplemented with strong digital engagement.
Car makers spend billions of dollars yearly on vehicle design and new model advertising. Slick and visual new-model-year brochures were a cardealerships best point-of-sale desire-builders for many years. The customer mentions the vehicle of interest, and the associate pops it into the DVP on their laptop or smartphone.
Auto dealerships are also embracing new AI tools for enhancing customer service and reshaping how they price their vehicles. In a traditional book value pricing method, auto remarketing dealerships list the base retail value on their website, leaving out factors such as mileage and vehicle condition.
Car buyers’ trust in dealers is a key indicator of how transparent they perceive the car-buying process — even with access to digital tools to complete key elements of their purchase. Using online soft credit pulls and pre-qualification, car buyers can enter a dealership with a sense of their pricing options.
Independent cardealerships had to navigate a number of trends in 2024, from supply constraints to consumers reacting to new economic pressures. No matter what curveballs are around the corner, there are key strategies used-car dealers should consider to consistently boost profitability. Are your local buys aging out?
New vehicle dealer inventory once again climbed in June, with 2.96 million vehicles just sitting on lots. million vehicles a month earlier. It’s also a million more vehicles than where it was at the same time last year – 1.95 That works out to about a 76-day supply, and it’s up from 2.89 Read more.
For cardealerships, this translates to websites that mirror the positive online shopping experience customers have elsewhere. A dealership’s website is the battleground for converting digital window shoppers into potential buyers. To succeed, traditional relationships must be supplemented with strong digital engagement.
While supply constraints have been a major focus, it’s also important to consider how demand dynamics are influencing the used car market and complicating dealerships’ ability to source inventory effectively. Emphasis on Buying Rather Than Selling In the automotive world, cardealerships and selling are often synonymous.
As it turns out, car dealers seem to know even less than buyers do when it comes to electric vehicles , and they don’t really seem too keen on learning about them. The Washington Post spoke with a number of customers who said dealers tried to redirect them to gas cars or gave them unclear or downright incorrect answers … Read more.
So, what is the best tech to invest in to revitalize your dealership? Embracing Change In the past, cardealerships were often characterized by a high-energy sales environment dominated by face-to-face interactions. Before I answer that, let’s first discuss where there is room for improvement within the current system.
A Honda dealership in Bowie, Maryland is facing civil charges after it allegedly engaged in “unfair or deceptive trade practices at nearly every stage” of new vehicle sales , according to Maryland Attorney General Anthony Brown. Read more.
A sucker walks into a new cardealership every minute. Dealership showroom floors are practically delivery rooms for freshly-born suckers. There are shiny new cars on the floor, and rapacious young sales professionals just waiting to lure you into something you can’t afford , don’t need, or otherwise shouldn’t own.…
Mercedes-Benz electric vehicles are spending nearly three months sitting on dealer lots. Data shows that it took Mercedes dealers an average of 82 days to sell the automaker’s battery-powered EQ models , according to Automotive News. Read more.
New numbers about non-Tesla EV market share and how many dealerships are selling electric vehicles are showing just how much Tesla’s market edge has shrunk in the past few years, according to data compiled by iSeeCars.com. Read more.
Right now, electric vehicle sales are hitting a bit of a slowdown. Don’t get me wrong, the market is growing , but it’s not growing as fast as some may have predicted. We know automakers (for the most part) want to build EVs , and we know customers (for the most part) want to buy EVs, but what about the third party… Read more.
The pre-owned car market is still in a weird place. Some segments like electric vehicles have some hefty savings , but most pre-owned cars are still selling for inflated prices. If you happen to come across a used car that seems too good to be true, make sure the dealer can answer these questions. Read more.
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A lot of car dealers don’t have much interest in selling EVs ; some are politically opposed to the idea on its face, some just don’t want to make the massive investment their brands are demanding to update their stores to EV readiness and some are just philosophically opposed to learning anything about products and… Read more.
The VinFast VF8 is a bad car , and with a base price of nearly $50,000, you can’t even make the argument that it doesn’t need to be fancy because it’s cheap. Despite that (and all the negative reviews that came from the press launch), VinFast decided to start selling its cars in the U.S. Or at least attempt to sell… Read more.
A crew of car thieves hitting dealerships in the Detroit Metro Area made off with a pricy luxury car by blasting through the showroom window last week. The good news? The thieves are potentially down one member; a 14-year-old boy now in police custody. Read more.
Fisker officially filed for bankruptcy last month, and despite a “going out of business” sale that saw prices of its Ocean EV slashed by thousands , the automaker still has a few thousand leftovers that didn’t sell. Fisker may have found a buyer for all those EVs and, as TechCrunch reports, it’s willing to let them go… Read more.
KPA recently announced the results of its 2024 KPA Dealership Trust Survey conducted by The Harris Poll. The survey reveals that about one-third of Americans have experienced things like deceptive selling, hidden fees or dishonest salespeople at cardealerships. 76% don’t trust cardealerships to be honest about pricing.
In the fast-paced market of cardealerships, Conversicas AI Agents powered by AnswersIQ for Auto address complex customer inquiries, differentiating our offering with consistent and accurate answers that provide real-time inventory updates. In March 2020, Conversica launched its first GenAI solution, Answers, partnering with Google.
In 2024, car buyers got a very slight respite from the record-high car prices weve seen for almost half a decade now , and it seems like that trend will continue through 2025 thanks to dealers offering more and more cash on the hood of new cars.
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