Blame it on the internet. Retail stores are closing at record levels, so dealerships are obliged to maintain a strong web presence if they want to build and maintain a steady foothold in the automotive marketplace. Today’s savvy consumers’ preferred method of shopping is to research and compare online, which has changed the buying and selling landscape … [Read more...] about How E-Contracting Accelerates the Buying Experience
We all know why the scorpion stung the frog after all, right? It’s what a scorpion does, even after the frog has done it a favor. Fortunately, our industry’s “scorpions” are leaving the car business as new talent, not burdened by tricks, attitudes, and tactics once so colorful in our business, takes over. There’s revived hope that fresh talent is willing to embrace new … [Read more...] about How to Succeed With a Counterintuitive F&I Strategy
With his campaign promise to put a stiff tariff on vehicles manufactured outside of the United States, President Donald Trump has automakers scrambling and dealers worried. The proposed tariff, generally mentioned to be 20%, throws a wrench in auto pricing. If domestic manufacturers move production back to the U.S., they will contend with higher worker costs and lose the … [Read more...] about Dealers and Manufacturers Are Wary: Will Trump Impose Tariff?
When the election results were known the morning of November 9, 2016, one thing was certain: Change is coming. President Donald Trump’s administration made clear during its campaign and after the election that burdensome regulations had adversely effected business growth and jobs creation. An expressed priority of the new administration is to reduce regulation deemed … [Read more...] about What Impact Will the New Presidential Administration Have on Regulations and Compliance?
Margin compression continues—what can you do about it? Car dealers are notorious for fighting through tough times. Their best right hook is more car sales, but there’s another way to punch back, which is to take some skin off margin compression by using cost and expense control. “Trim” is the term usually associated with cost and expense control, but isn’t driving … [Read more...] about 7 Ways Dealers Can Punch Back Against Margin Compression