Experts believe sales of new vehicles will close 2020 down approximately 15%, which would mark one of the industry’s worst annual declines since at least 1980. In any typical year, this type of ending would illustrate a significant disaster. However, in 2020 there are more than a handful of industry executives thanking their lucky stars it wasn’t worse. There is new hope … [Read more...] about Digital Advertising & Marketing Technologies are Helping Dealers Acquire Inventory Entering 2021
During the COVID-19 lockdowns, numerous automotive dealerships radically cut back their general ad expenses to maintain as much of their bottom line as possible. Furthermore, in April, the annual pace of sales dropped steeply to 8.47 million, a dramatic drop from the 17.05 million level it was pacing earlier in January. Nonetheless, dealers have seen significant recoveries … [Read more...] about How Dealers Today Leveraged Fixed Ops and Digital Advertising for Quicker Recovery
In the early months of 2020, many auto industry observers believed the industry would be looking at an annual pace of approximately 16.5 million new vehicle sales for the year. When the COVID-19 pandemic spread across the globe, this forecasted number had plunged to about 12 million, as hundreds of millions of potential shoppers stayed home and away from auto … [Read more...] about How Will the COVID-19 Pandemic Change the Way Dealers Market to Customers?
As the world continues to watch and see exactly how the COVID-19 outbreak unfolds, everyone involved in the automotive industry is also eyes wide open on the topic. The outbreak has had a sweeping and profound impact in a short amount of time, and it has been a striking blow to what was a magnificent run of sales dating back to the recession of 2010. How Bad Will Things … [Read more...] about Where the COVID-19 Outbreak Is Impacting Dealers’ Marketing Strategies