Three months ago, I made a prediction in a LinkedIn post that only 5% of today’s car dealerships will survive the changes currently affecting the auto industry. Currently, most dealerships are focused on owning the markets they exist in, instead of optimizing the car-buying experience itself or addressing the drastic change coming their way. In order to succeed, these … [Read more...] about Are the Constants of the Auto Industry Proving to Be Its Achilles Heel?
Millennial employees now make up a huge percentage of the American workforce—and that number is growing. Experts estimate that by 2025, as much as 75% of the work force will fall into this age group. Your future employees will be millennials, so you need to start attracting them to your dealership. The problem is the car business isn’t always millennial-friendly. It can … [Read more...] about The Secret to Recruiting Superior Millennial Employees
Tinker Hatfield is famous among sneaker enthusiasts; his engineering work for Nike revolutionized movement, running, and athletic performance. Comparing the sneakers of the past to his radical Air Jordan design is a lesson in the way futuristic thinking and innovative technologies improve fundamental behaviors and activities, like running. When you consider everything … [Read more...] about Are You Embracing the Future and Running to Win, or Just Running in Place?
As automotive lenders and retailers, we stand at the edge of deep and transformative change. Skeptical? Don’t be. Consider, instead, the evidence of the coming shift: While dealer-sourced financing makes up about 80% of auto loan originations, car buyers are actively searching for alternative ways to arrange financing before they set foot inside a showroom. According to a … [Read more...] about Are You Ready to Give Consumers the Online Financing They Want?
Being an auto dealer comes with great opportunity, but operating the business side can be a daunting task. Dealers need resources that are easy to access and simple to comprehend in order to stay ahead in a highly competitive environment. The following resources represent the top 10 go-to providers of information online that will help dealers run and grow their businesses … [Read more...] about Top 10 Online Resources for Dealers