Dealers: Page 36
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Courtesy of WardsAuto
Megadealer Groups See Parts, Service Revenue Jump in 2021
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.
By Jim Henry • Feb. 22, 2022 -
Courtesy of WardsAuto
Canada, Mexico in Spat With U.S. Over Auto-Parts Sourcing
Canada and Mexico argue the U.S. is being overly demanding about North American parts sourcing, creating a risk that some Canadian and Mexican-made autos are not covered by the USMCA when exported to the U.S., and hence subject to duty.
By Keith Nuthall • Feb. 22, 2022 -
Explore the Trendline➔
Courtesy of Kia Corporation
TrendlineArtificial Intelligence
Automakers and dealers alike are increasingly seeing the use case for AI within their operations. Explore some use cases in this trendline.
By WardsAuto staff -
Courtesy of WardsAuto
New OnStar Initiative Bases Insurance Rates on Actual Driving
With traditional rate setting, “it’s often about who you are, not how you drive,” says Andrew Rose, president of GM’s OnStar Insurance.
By Steve Finlay • Feb. 18, 2022 -
Courtesy of WardsAuto
Column
How AI Enhances Data-Driven Marketing
Dealers who have yet to leverage data-driven marketing might want to prioritize it in 2022. The integration of AI promises to simplify the process of data access, analysis and the implementation of targeted, personalized marketing campaigns.
By Dan Dulik • Feb. 15, 2022 -
Courtesy of WardsAuto
Column
Prepare for Service Retention Rates to Drop
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.
By Rob Volatile • Feb. 14, 2022 -
Courtesy of WardsAuto
Column
F&I Product Opportunities for Auto Dealers in 2022
F&I profits haven’t been hard to come by since the start of the pandemic. Total F&I revenue for some of the largest dealership groups in the U.S. jumped 4.5% in 2020 compared with 2019.
By Tim Blochowiak • Feb. 11, 2022 -
Courtesy of WardsAuto
Mullen Pursuing Hybrid Retail Model for Its BEVs
The upstart, Orange County, CA-based battery-electric-vehicle maker says it isn’t going all in on just direct or franchise sales.
By Christie Schweinsberg • Feb. 10, 2022 -
Courtesy of WardsAuto
Vehicle Demand High Despite Bigger Payments, NY Fed Says
Consumers eventually will reach a point where auto loans and leases become so unaffordable that demand will subside, but that point hasn’t been reached yet, the New York Federal Reserve reports.
By Jim Henry • Feb. 9, 2022 -
Courtesy of WardsAuto
Column
Dealers Marking Up Above MSRP on Dangerous Ground
Between Tesla, Rivian, Lucid and Fisker operating without dealerships and the agency model introduced by traditional manufacturers, marking up above MSRP during these demand-driven times may come back to haunt dealers.
By John F. Possumato • Feb. 9, 2022 -
Courtesy of WardsAuto
Column
Purchase Orders Protect Auto Dealership Profits
Under a purchase order, a dealer who buys anything from a vendor agrees to a certain price and certain terms, both of which affect profits. That kind of binding agreement is pretty important right now with all the instability in the supply chain.
By Kyle Rauzi • Feb. 8, 2022 -
Courtesy of WardsAuto
Column
New Super Bowl Advertising Strategies for Auto Dealers
With digital resources available to local dealers, they should begin to leverage Super Bowl advertising opportunities like never before, helping new customers connect, engage and transact with them on a more personalized level.
By Lauren Donalson • Feb. 7, 2022 -
Courtesy of WardsAuto
TransUnion: Auto-Loan Terms Stretch as Interest Rates Rise
Monthly auto-loan payments would have been even higher in third-quarter 2021, but borrowers took out a higher proportion of 72- and 84-month loans, TransUnion says.
By Jim Henry • Feb. 4, 2022 -
Courtesy of WardsAuto
Car Dealers Get Creative in Acquiring Inventory
“Customers not coming in with a trade is an alarming concern for many dealers,” says MAX Digital’s Randy Barone.
By Steve Finlay • Feb. 4, 2022 -
Courtesy of WardsAuto
Analyst Sees No Quick Relief From New-Vehicle Shortages
LMC Automotive Managing Director Pete Kelly says it could be 2023 before the industry sees significant improvement in light-vehicle inventories.
By Jim Henry • Feb. 2, 2022 -
Courtesy of WardsAuto
Help Your Accounting Team Embrace Technology (and Change) in 2022
Your DMS technology can be the key to unlocking increases in efficiency and profitability, as well as dealership growth.
By Industry Voices article by Dealertrack DMS • Feb. 1, 2022 -
Courtesy of WardsAuto
J.D. Power Analyst Bullish on 2022 U.S. Vehicle Market
“For retailers, this should be the best year ever,” says Tyson Jominy, vice president-Data & Analytics, for J.D. Power. “(Tight) inventory is driving the pricing dynamic. We don’t expect to see that improve until at the earliest, in Q4 of this year.”
By Jim Henry • Jan. 28, 2022 -
Courtesy of WardsAuto
Fewer Car Owners Bash OEM Mobile Apps, but Problems Persist
“Owners are looking for accurate real-time information about their vehicle, which many apps are currently not providing,” says J.D. Power’s Frank Hanley.
By Steve Finlay • Jan. 27, 2022 -
Courtesy of WardsAuto
Column
Evolving Beyond Tier-based Automotive Advertising
Combining messaging and marketing efficiency by seamlessly bringing dealers, consumers and OEMs together on one axis costs less and generates more sales.
By Dave Zuchowski • Jan. 24, 2022 -
Courtesy of WardsAuto
Used-Car Market to Remain Robust in 2022, Ally CEO Says
Ally reports U.S. consumer auto loan and lease originations, including new and used, were $10.9 billion in the fourth quarter, up 19.8% vs. a year ago.
By Jim Henry • Jan. 21, 2022 -
Courtesy of WardsAuto
NFL Wild Card Weekend Delivers Auto Ad Attention
Lexus takes the top two spots for the week of Jan. 10, bumping the previous week’s frontrunner Nissan down to third, while a pair of Toyota ads round out the bottom of the list.
By Jim Irwin • Jan. 20, 2022 -
Courtesy of WardsAuto
Column
Car-buyer Expectations Building Amid Chip Shortages
Automakers and dealers have made strides in meeting demand, especially by adopting digital technology. But keeping pace with more rapid changes against the backdrop of supply shortages will require a deeper understanding of what consumers expect and value.
By Brian Irwin • Jan. 19, 2022 -
Courtesy of WardsAuto
Column
Four Tips for a Successful CPO Program
When implemented correctly, CPO programs provide consumers with a high level of transparency and confidence. As a result, consumers are willing to pay more and the vehicles turn faster.
By Jeremy Beck • Jan. 18, 2022 -
Courtesy of WardsAuto
Column
Connected Television Boosts Dealers’ Advertising Results
The first benefit of connected television is scale, where dealers can leverage large programming opportunities and access across major recognizable logos with strong coverage across networks and devices.
By Patrick Curran • Jan. 14, 2022 -
Courtesy of WardsAuto
Toyota Defends U.S. Retail Sales Title in 2021
Toyota has been No.1 in U.S. retail volume each of the past 10 years, but it surpassed General Motors in overall sales in 2021 because COVID-19 and the computer chip shortage curtailed GM fleet sales.
By Jim Henry • Jan. 7, 2022 -
Courtesy of WardsAuto
Digital Retailing: The Key to Customer Satisfaction and Profitable Sales
Today, two out of three car shoppers want to complete more of the process online compared to their last purchase. Digital retailing platforms like Accelerate My Deal empower you to offer personalized paths to purchase that earn you more profit.
By Industry Voices article by Cox Automotive DSS • Jan. 5, 2022
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