Autumn means colorful leaves, a chill in the air and the welcome return of football. This year, the auto business is experiencing some tough challenges brought on by daunting economic and industry conditions. Your…
4 CANDIDATE SCREENING STEPS TO TAKE IN THE ABSENCE OF IN-PERSON INTERVIEWS
This partner post originally published on Hireology’s blog here. Given the coronavirus (COVID-19) outbreak, employers around the world have had to rethink their day-to-day business operations. With many organizations switching to an entirely remote…
Leverage Technology to Take On Margin Compression
Margin compression is an ongoing problem in the auto retail industry. But at least it’s somewhat predictable. Margin compression almost always accompanies economic slowdown—when economic times get tough, profit margins usually start to slim.…
Industry News Roundup: 9/22/2020
In this news roundup from Dealertrack, we examine how dealerships are adapting their fraud detection practices for digital sales, explore the risks to dealerships and customers from DMV backlogs caused by COVID-19 shutdowns, and…
FUTURE PROOF YOUR DEALERSHIP WITH A STRATEGIC STAFFING PLAN
This article originally appeared on Hireology’s blog here. BY MIKE MCSHERRY This summer, American auto dealers made two key realizations. First, they can, in fact, sell and service an impressive number of vehicles in…
7 Ways to Fight Back Against Margin Compression
When the going gets tough, the tough get going! That’s always been the mentality of auto dealers during difficult times. When a new challenge comes along (a pandemic, for instance), tough-minded dealers buckle down,…
The Good News & Bad News About Out-of-State Deals
Let’s start with the good news! Out-of-state deals are increasing as dealers promote their inventory online and cast a wider net for potential customers. Out-of-state sales grew by 16% over the past year, according…
Streamlining Out-of-State Registration & Title
As many dealerships enable digital retailing tools, their potential customer base can expand significantly as they engage with clients outside their normal reach. As of early this year, dealers using digital retailing saw a…
Solutions to Mitigate Common Auto Loan Portfolio Risks
As of the first quarter of 2020, there were 116.46 million car loans in the U.S. In any market conditions, lenders require the right data and insights to effectively manage their loan portfolios. With…
Hands-Off Tools for No-Contact Deals
As cities are “reopening” around the country, we see buyers returning cautiously, with just 2% of consumers considering things to be “back to normal” according to the Cox Automotive COVID-19 Consumer Impact Study (June…
3 Keys to Reimagining Your Dealership’s Back Office
Now is a great time to seek out time- and money-saving opportunities in every facet of your operation, including registration and title processing. Why? Because making your back-office processes more efficient can help address…
Why Now is the Time for Auto Lenders to Go Digital
Over the past several years, the paperwork and manual processes for handling auto loans have been gradually giving way to technology-based processes. But this year has changed everything. In the wake of the COVID-19…
