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
The COVID-19 pandemic has triggered the worst global economic downturn since the Great Depression in the 1930s. Posting the fiscal deficits larger than those during the 2008 global financial crisis, countries around the world have come up with a series of measures to stimulate the economy. The worst economic downturn is still underway. Some countries are fortunate enough to … [Read more...] about Need Some Support? Hyundai Capital Offers Dealers & Customers Worldwide COVID-19 Support Programs
With millions of consumers turning exclusively online in the recent months, dealerships were forced to acknowledge their aging digital infrastructure. Outdated solutions, like traditional marketing agencies, simply didn’t cut it anymore. And for dealers, relying on intuition, and ‘what worked last month’ quickly became a thing of the past. While many dealerships … [Read more...] about The Pandemic’s Ripple Effect: AI Marketing Tech Trumps Traditional Marketing Agencies
“You could never know what it's like - Your blood like winter freezes just like ice - And there's a cold lonely light that shines from you - You'll wind up like the wreck you hide behind that mask you use.” For those of you not as familiar, these are the beginning lyrics to a song by Elton John called I’m Still Standing. We got knocked down hard over the last 6 months … [Read more...] about I’m Still Standing
Let’s start with a few recent consumer sentiment and behavior data points. Some good news, some bad news for OEMs and Auto Dealers. IBM recently conducted a consumer sentiment survey in the U.S. to assess current and future forecasted feelings and behavior across many topics, including comfort in returning to a work office, healthcare, travel, movies, and more. We also … [Read more...] about Post Covid-19: You “Sell” Online, Now What?