Editor’s Note: This article was originally published in the September/October edition of Dealer magazine Journalism, by definition, is impartial, with reporters bound by their sacred oath to write just the facts—not swayed by bias, opinion, pers

In this high rate environment where car prices remain high and access to consumer credit is a challenge, dealers need to be strategic about their digital retail investment and ensure they’re getting the most value possible. By adopting best practic

As we head into the last few months of 2024, adoption of artificial intelligence (AI) technologies like chatbots has become increasingly significant. Automotive lenders find that integrating chatbots into their operations offers many benefits, rangin

Digital transformation in the automotive industry has largely focused on the consumer-facing side, modernizing the way customers search for, evaluate, finance and purchase vehicles. Online platforms have made car shopping more accessible, allowing co

Revenue management, a strategic approach traditionally associated with airlines and hotels, is increasingly relevant in the automotive dealership sector. This practice involves using data-driven insights to predict customer behavior, optimize product

Managing inventory risk is not just about avoiding losses but also about optimizing profitability. For auto retailers, maintaining an ideal balance between supply and demand is critical. Too much inventory can lead to increased holding costs, while t

In May, a new record was set—and it wasn’t a good one for auto dealers looking to buy trade-ins: Americans’ cars are old and getting older. The average age of the 286 million vehicles in operation in the U.S. is now 12.6 years old, according to

The car buying landscape is continually evolving, driven by changing consumer behaviors and technological advancements. Understanding these shifts allows dealerships to improve their ability to meet and anticipate customer preferences, enhancing thei

The automotive industry has undergone significant changes in recent years, particularly in how vehicle appraisals are conducted. As dealers adapt to a data-driven market, they increasingly rely on technology to make more informed decisions about inve