Dealers: Page 39
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Courtesy of WardsAuto
Tapping Full Vehicle Ownership Lifecycle to Stay Top of Mind
The average length of vehicle ownership continues to climb, with many models on the road older than 11 years. If dealers and automakers can adapt services to this longer lifecycle, they’ll unlock new opportunities to create value-added experiences.
By Cathy Orrico • Sept. 24, 2021 -
Courtesy of WardsAuto
The Evolving Nature of Purchasing a Car
While, for now, the traditional model of buying a car remains the most popular, growing levels of customer dissatisfaction, especially among younger buyers, are driving the immediate and impactful car buying changes.
By Mark Geden • Sept. 23, 2021 -
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
Motor Bella Gets Lots of Praise – and Rain
With heavy rain in the forecast, Motor Bella activities are canceled for today, resuming tomorrow when the public days begin.
By Steve Finlay • Sept. 22, 2021 -
Courtesy of WardsAuto
Column
Ready, Set, Poised for Success
When you are constantly on top of everything that is asked and required of you during the day, it makes new requests and favors easier to say yes to without added stress.
By Justin B. Gasman • Sept. 21, 2021 -
Courtesy of WardsAuto
Trends and Tales from the Auto-Retailing Front
Auto retailing veteran Brian Allan talks about the auto industry, past, present and future – and how he traded Hot Wheels cars at age 6.
By Steve Finlay • Sept. 16, 2021 -
Courtesy of WardsAuto
Motor Bella New Showcase for OEMs, Detroit Auto Dealers
Organized by Detroit Auto Dealers to replace the COVID-cancelled North American International Auto Show, Motor Bella will display 350 vehicles from 35 brands. Acura, Ford, GM, Honda, Lincoln, Porsche, Stellantis, Toyota and VW will participate.
By Joseph Szczesny • Sept. 14, 2021 -
Courtesy of WardsAuto
Car Dealers Urged to Keep Some of Their Inventory
In a WardsAuto Q&A, HyreCar President Brian Allan talks about a new business model for car dealers.
By Steve Finlay • Sept. 9, 2021 -
Courtesy of WardsAuto
Car Dealership F&I Menus Now Offer Vehicle Insurance
“We believe we are bringing a revolutionary product solution to the market,” says DealerPolicy CEO Travis Fitzgerald.
By Steve Finlay • Sept. 7, 2021 -
Courtesy of WardsAuto
Column
Is There a Good Labor Day Deal in Today’s New Car Market?
Autotrader recently published a list of 20 new vehicles that consistently sell above MSRP while Kelley Blue Book published its list of the best lease and purchase deals available through Labor Day weekend.
By Brian Finkelmeyer • Sept. 3, 2021 -
Courtesy of WardsAuto
Column
Four Changes Can Improve Service Center Profits
Value-based programs enable Fixed Ops to generate more profits and foster repeat customers.
By Troy Scheer • Aug. 27, 2021 -
Courtesy of WardsAuto
The DNA of Today’s Car Dealership – and Tomorrow’s
Dealerships that prioritize the customer experience and convenience grow, retain staff and get positive reviews.
By Erin Williamson • Aug. 25, 2021 -
Courtesy of WardsAuto
Mobile Auto Repair Service Attracting Investors’ Interest
Founded in 2018, RepairSmith counts Mercedes-Benz and Porsche among its investors. But that does not mean those automotive brands would make RepairSmith part of an OEM-backed plan to have dealers offer mobile service.
By Jim Henry • Aug. 23, 2021 -
Courtesy of WardsAuto
Auto Retailer Sonic Growing EchoPark Used-Car Business
Sonic projects 2025 revenue of $14 billion for EchoPark, vs. $1.4 billion for 2020. Sonic expects EchoPark stores to make less gross profit per unit retailed but make it up on volume.
By Jim Henry • Aug. 19, 2021 -
Courtesy of WardsAuto
New, Used Auto Lenders Seeing Low Delinquency Rates
TransUnion says auto delinquencies of 60-plus days accounted for 1.23% of the amount outstanding as of the end of the second quarter. That’s an improvement over a delinquency rate of 1.51% a year ago, in the depths of coronavirus-related business shutdowns.
By Jim Henry • Aug. 18, 2021 -
Courtesy of WardsAuto
Column
Dealers Must Adapt to Millennial Car Buyers’ Needs
Branding is critical for millennials. If your 65-year-old dealership owner still insists on being the face of every traditional television advertisement, you’ll still sell cars to this generation, but you won’t maximize your opportunities.
By Matt Copley • Aug. 17, 2021 -
Courtesy of WardsAuto
Squeezing Out More Vehicle Supply
Automakers currently have very lean inventory, significantly improved margins and strong sales. COVID disruptions have potentially created a new paradigm: An industry days’ supply standard that is closer to 50 days than 80 days, and a determination to maintain vehicle margins at their current levels.
By Warren P. Browne • Aug. 16, 2021 -
Courtesy of WardsAuto
Column
OSHA Violations Are Avoidable
Begin by evaluating the current state of your workplace to locate areas where you can improve conditions for your employees.
By Micah O'Shaughnessy • Aug. 12, 2021 -
Courtesy of WardsAuto
Turning the Digital Tables: Car Dealers Become Buyers
For consumers who want to sell their cars, the CarGurus initiative instantly presents them with the highest offer available from thousands of dealerships.
By Steve Finlay • Aug. 11, 2021 -
Courtesy of WardsAuto
How Car Dealers Can Keep, Win Back Service Customers
U.S. dealers earned $111.2 billion in service and parts sales in 2020, a third of the vehicle maintenance and repair industry’s total revenue, according to the National Automobile Dealers Assn. Local repair shops and car-care chains get the rest.
By Steve Finlay • Aug. 9, 2021 -
Courtesy of WardsAuto
It’s an Unreal Way for Car Dealership Websites to Show Vehicles
“Everything you are looking at is essentially fake, but it is absolutely product-correct,” eVN founder Peter Stevenson says of his company’s vehicle imagery provided to car dealers.
By Steve Finlay • Aug. 6, 2021 -
Courtesy of WardsAuto
Column
Thirteen Ways Dealers Can Tackle Inventory Shortages
Industry crises such as the global chip shortage can be daunting for any business. However, working daily to address gaps in the business will help dealers ensure they will continue to serve their customers now and in the future.
By Ryan Soffa • Aug. 5, 2021 -
Courtesy of WardsAuto
Auto Loans, Lease Originations Soar in Second Quarter
“There is an increase in both the number of loans and the size of loans,” say researchers for the New York Federal Reserve Bank.
By Jim Henry • Aug. 4, 2021 -
Courtesy of WardsAuto
Largest Dealer Groups Report Big Gains in Fixed Operations
Despite the gains, fixed ops as a department – especially in warranty work – continues to lag the astronomical gains the dealer groups are putting up in other profit centers: in new- and used-vehicle gross profits, and finance & insurance.
By Jim Henry • Aug. 3, 2021 -
Courtesy of WardsAuto
Column
Digital Technology Can Reach Millennial Car Shoppers
The pandemic’s effect on traditional vehicle sales, combined with millennials’ increased purchasing power, has led franchised and used-car dealers to recognize the need to change how they sell cars and trucks, to ensure they get their share of the business.
By Rusty West • Aug. 2, 2021 -
Courtesy of WardsAuto
Asbury Automotive Group Taps Brakes on Growth
For the second quarter, Asbury’s reported net income of $152.1 million, more than triple the year-ago quarter. That’s on a 70% increase in total revenue, to about $2.6 billion, vs. a year-ago quarter hit hard by the pandemic.
By Jim Henry • July 28, 2021
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