While the outlook for parts and service is positive, Roger Penske, chair and CEO of Penske Automotive Group, says parts shortages and a lack of loaner cars are a couple of potential negatives.
More driving means customers wear out their cars faster and have more collisions, and therefore need more body work. Many customers also are coming in for service work they postponed earlier in the pandemic, Lithia Motors executive Chris Holzshu...
Major League Baseball’s Opening Day is March 31, and a competitive auto-retail market may arrive sooner than you think. It’s time to break out the uniforms, dust off the cleats and immerse yourself in spring training, so your dealership is ready...
Despite large gains in parts and service revenue, the recovery from the lows experienced in 2020 because of pandemic shutdowns continued to be slow for warranty work and for collision repair.
A perfect storm of factors will contribute to a nosedive in service retention rates and corresponding service revenue, quite possibly at a time when inventory levels are normalizing and front-end margins are dropping back to normal.
“We don’t want to look at AI in the Hollywood way, but rather as to how it can (non-theatrically) help dealers become more productive,” says CDK market researcher Peter Kahn.
Since 2019 the military training program has graduated 106 rookie BMW technicians nationwide. Dealerships need about 76,000 new technicians annually due to retirements and job departures, but only about 39,000 service techs graduate from tech...