Trending Auto Retail News
JD Power Report Finds Lower Profits for Dealers in December
Retail sales of new vehicles for December were expected to increase 13.1% from a year earlier to 1,169,000 units, according to a report from JD Power and Global Data last month. Comparing the same sales volume without adjusting for the number of selling days...
Cox Forecasts U.S. Car Sales to Rise 11% in 2023
New car sales in 2023 will increase by double digits when the final count is tabulated, according to one leading industry observer. New-vehicle sales volume for December 2023 is expected to rise 6.2% over the previous year, according to Cox Automotive officials. The...
Hold on Tight, the Rollercoaster Ride Continues
Dealers, fasten your chin straps, check the security of your seat belts, and prepare for a roller coaster ride, as used car values fluctuate wildly in the coming months. Can you guess which shell the pea is under? Do you hang onto unsold pre-owned cars for 60 or 90...
Successfully Navigating the Landmines of Family and Business: The Key to Exceptional Rewards
“That was my dream – to have my kids join me in the family business, but now it feels more like a nightmare!” I recently heard this from a business owner client, but unfortunately, it’s way too common! Why does it work so well for some families but not others? The...
Embracing Video: A Strategic Move for Dealerships
In the wake of the pandemic, the dynamics of communication have undergone a major transformation. For example, the use teleconferencing apps have witnessed an unprecedented surge in connecting doctors and patients. Meanwhile, at home, more individuals now use FaceTime...
Are You Running Your Business, or Is Your Business Running You?
No matter how much you plan, how much you train, and how hard you try, sometimes the service drive, the shop, and the parts department can be a chaotic, jumbled mess. If you are running your business, those days of chaos are the exception rather than the rule. If your...
Accelerating the Waterfall Effect: Private-Party Acquisitions As a Wave-Maker for Dealerships
The most successful dealerships aren't necessarily those with the flashiest showrooms or the largest advertising budgets. Instead, success often hinges on the adoption of innovative strategies. One transformative strategy is private-party acquisition. Building...
Mastering Phone Sales in Automotive: The Art of Asking Questions and Timing
When you call a dealership in America, the typical response usually falls into one of two categories: "Yes, we have the car. When would you like to come in and look at it?" Or, if inventory is low, you'll hear, "No, sorry, we don't have it," and that's the end of the...
Dealer Magazine: Interview with Ashley Cavazos, Marketing Director, DeMontrond Auto Group
We recently had the pleasure of interviewing Ashley Cavazos, the Marketing Director of DeMontrond Auto Group, based in Houston, Texas. DeMontrond Auto Group boasts an impressive portfolio of 12 dealerships, representing 11 automotive brands, and additionally, they...
Sales of Auto Dealerships up 11% from Last Year: Kerrigan
The economics remain strong enough in 2023’s third quarter for sales of auto dealerships to rise more than 10 percent, according to a recent report from Kerrigan Advisors. The auto dealership buy/sell market had a record 313 transactions completed through the third...
U.S. Auto Sales Expected to Rise 2% in 2024
New vehicle sales worldwide are forecasted to exceed 88 million in 2024, with sales in the United States growing despite concerns about the economy. S&P Global Mobility is estimating 88.3 million new vehicle sales worldwide next year as supply chain issues fade...
Automotive Retail: Relevance in a Digital World
The digital revolution is here to stay in automotive retail. When researching and buying vehicles, consumers expect flexible digital experiences that allow them to transition to traditional sales models seamlessly at their discretion. Whether online, in-store, or...
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