of people who return to the selling dealership for maintenance are
more likely to purchase their next
vehicle from the dealership.
Dealers struggled with
shifting their operations for
a plateau in unit sales.
The 2017 natural disasters put significant strain on dealer reinsurance portfolios, as GAP claims steadily rose over the year.
If it had not been for President Trump, the CFPB would have
passed the Arbitration Rule this
Maximize profit per vehicle sold in F&I.
Review your product penetration numbers,
F&I menu, and inventory.
Do your products match your inventory with both new and pre-owned units?
Do you have the right mix of products and inventory to meet consumer demands?
Do you have a traffic-driving F&I product to help differentiate your dealership beyond inventory?
More dealers are seeing the benefits of providing F&I information online, with consumers walking into the dealership in the mindset to buy those products.
Focus on your ongoing communicationstrategies with consumers, whether that’s via a mobile app, email, or social media.
Pre-owned inventories are finally right-sized for consumer demand.
Unit sales volume is roughly on par with last year’s volume.
The Consumer Financial Protection Bureau (CFPB) is beginning to be reined in by Congress.
Accept that it will take longer than a year to recover those lost profits. If you try to recover the entire amount in 2018, the necessary price increase for product sales may price you out of the market.
Make your voice known and keep retail automotive industry initiatives top-of-mind with your representatives on the Hill.