A version of this article originally appeared on Hireology here. BY BETH KEMPTON | HIREOLOGY Following widespread closures as a result of COVID-19 stay-at-home orders, dealerships across the country are gradually reopening as states…
Untapped Opportunities for More Efficient Deal Completion
An increasing number of dealers are adopting digital retailing tools to power the car buyer journey. Sharing inventory and starting deals online allows dealerships to expand their reach and customer base, which translates into…
CASH FLOW OPPORTUNITIES: THINGS TO CONSIDER WHEN RETHINKING YOUR BACK-OFFICE PROCESS
Now more than ever, dealers are looking for ways to promote efficient processes that can stimulate healthy revenue flow for their business. After all, cash is king, especially when looking at the current state…
Staying Compliant While Working Remotely
Staying Compliant While Working Remotely The rapidly changing circumstances around the COVID-19 pandemic forced dealerships to adapt quickly. In areas where shelter-in-place or stay-at-home orders led to closed showrooms, some dealership personnel even relocated…
Dealertrack is here for you. Here’s what we’re doing.
During these interesting times, our number one goal at Dealertrack DMS is to help you find the best path forward. As a Cox Automotive business, we have been planning for years for the emergence…
Operate More Efficiently with Technology and Attentiveness
In today’s unprecedented automotive landscape, social distancing and economic hardship have put increased pressure on dealership profits and placed a crunch on cash flow. According to Cox Automotive surveys, dealerships are reporting 60-70% declines…
6 Ways to Drive Digital Transformation at Your Dealership
As the automotive retail industry faces new challenges, forward-thinking dealerships are reimagining their business environments. One of the most obvious and natural evolutions of having socially distanced customers and workers is to leverage technology…
5 Tools for Driving Operational Efficiency
Dealership operations are facing new challenges in the face of uncertainty. All industries will be impacted—either immediately or eventually—in 2020 by new Social Distancing guidelines and new operating models. Yet, the automotive industry…
Drive to Success: Thinking Beyond the Showroom
Our partners in the industry are finding new ways to ensure their future success by meeting the needs of their customers faster, safer, and online. It’s never been more important to think beyond the…
Let Us Help Keep Your Dealership On Track
Amid fears of disruption and loss of revenue, the spirit of innovation is driving chance in the business. Where once physical and social interaction between salespeople and clients was cornerstone, now personal and public…
5 Compliance Tips for F&I Selling
As dealerships look for ways to counter shrinking profit margins, F&I product sales are one of the revenue sources they turn to. Cox Automotive 2022 Car Buyer Journey research shows that 67% of car…
The State of the Used Car Industry in 2020
In his Key Industry Trends for 2020 address, Cox Automotive Chief Economist Jonathan Smoke made several predictions about how used car sales can be expected to trend in the coming year. Used car sales are expected to increase…
