What Experts are saying:
We all know that the mix of low inventory and higher prices on vehicles has affected sales. The world, after all, doesn’t revolve around gross alone. What wasn’t expected was an 11% drop in new car sales from April to May. This has some experts concerned about an upcoming economic downturn. “The market appears increasingly concerned about the economy, inflation, rising interest rates, and a recession,” Joseph Spak, an analyst at RBC Capital Markets, said in a…Continue
We’ve been dealing with strange times in the automotive industry recently with chip shortages and an insane gross market. This is not only creating tension for both the customer and the sales associate, but it’s straining an already tumultuous relationship that exists between customers and salespeople.
Therefore, first impressions are…Continue
You never hear a prize fighter say he fired his trainer directly after he won the championship belt, right? Well, that’s the whole reason why it’s important to continue coaching and training of the salespeople and BDC employees. Even after they seem to have mastered the phone and their appointment set rate is off the charts, continued coaching and training are paramount. This is what keeps them sharp! …Continue
It’s no secret how much COVID-19 changed the automotive business. Many dealerships were shut down for months on end and others had such restrictive business practices that made it difficult to function. We’re now in a post-Covid world, and many things have changed within the automotive industry. While it’s still unclear as to whether these trends are here to stay, they have changed the face of the industry. …Continue