Recently, major shifts in the automotive industry have all been traced back to the COVID pandemic. While we could talk all day about the numbers and what it means for dealerships now, what we should be talking about is what dealers can learn from this entire dilemma. While we’ve experienced multiple recessions, we have never experienced a pandemic in the automotive … [Read more...] about The Importance of Diversifying Your Revenue Streams at Your Dealership
service department
5 Steps to Tune Up Your Service Department Marketing
Not too long after the first auto dealer sold a new car to a customer, the dealership service department became “Ol’ Reliable” as a source of revenue and return business. In the history of automotive retail, dealers have gone through many up and down cycles of new-vehicle sales because of the economy, world and national events, fuel shortages, shifting consumer confidence … [Read more...] about 5 Steps to Tune Up Your Service Department Marketing
New Automotive Service Industry Study Reveals Entry Points to Multibillion-Dollar Opportunity
Redwood City, CA — September 5, 2018 — Amid the flattening automotive retail market, dealerships are turning to fixed operations to future-proof their businesses. Surveying 3,550 consumers and 404 franchise dealership employees, Cox Automotive Inc. conducted the 2018 Service Industry Study to explore the current state of the service market and help dealerships understand and … [Read more...] about New Automotive Service Industry Study Reveals Entry Points to Multibillion-Dollar Opportunity
How Service Departments Can Prepare for the Future by Embracing Disruptive Technology
Dealership service departments are on the verge of seeing transformative changes, and those that do not recognize these emerging patterns may face dramatic losses in revenues and missed opportunities. Currently, new-vehicle dealerships handle only about 30% of service work performed across the country, which represents an enormous missed opportunity not only for additional … [Read more...] about How Service Departments Can Prepare for the Future by Embracing Disruptive Technology
How Bundling Retention Incentives Benefits Dealers and Consumers
Does customer retention have a place in a market shaped by ridesharing, subscriber services, pod cars, autonomous vehicles, Carvana and DriveTime, and ride-hail services such as Uber and Lyft? And as the retail auto landscape continues to morph into sales and distribution models that would have been science fiction just a few years ago, is the pursuit of customer retention … [Read more...] about How Bundling Retention Incentives Benefits Dealers and Consumers