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.

At any given time, 20%-25% of all vehicles on the road have open recall. Many of these vehicles find their way – unknowingly to dealers – onto used-vehicle lots.

Rising salaries and unrealized expenses are skewing revenue, but proper planning can make an internal BDC a profit center.

The FTC’s Safeguards Rule requires detailed procedures and specific criteria that auto dealers must implement to provide better protection and to curb data breaches and cyberattacks that could jeopardize sensitive customer data.

“Every used vehicle has a unique history and a unique value,” says Carfax’s Bob Grill, urging dealers to describe stock creatively.

Kia plans to market to first-time electric vehicle buyers with an array of offerings to allow shoppers to ease into full-electric vehicles.