Dealers are data-curious and dubious. And that’s a problem. Consider Cox Automotive’s recent eye-opening Power of Data Study. “While 83 percent of dealerships have access to data insights from a dashboard or reporting tool, less than one-third

We are often being asked to provide insight on the importance of F&I products and services, what they mean for the overall profitability of a dealership, and what impact they may have on the customer experience. I am going to discuss how extended

In today’s automotive market, consumers are facing severe affordability challenges when it comes to purchasing and maintaining vehicles. As car prices continue to rise and economic uncertainties persist, dealers must adapt their strategies to m

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