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Exposing a need, discovering the “why buy,” and establishing a want makes the “invisible” recognizable as a benefit, resulting in more customers taking advantage of your offerings.
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Despite continued challenges in the industry, a continued focus on F&I product acceleration and program offerings, combined with more expert resources available, will help fuel further growth throughout 2022 and beyond for dealers.
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Opportunity will knock in the second half of 2022, but industry leaders still recommend those in retail automotive and F&I proceed with caution.
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Powersports represent an untapped market for automotive F&I agents.
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Soft pulls can strengthen consumer confidence and trust in making the right decision, and since they aren’t locked into anything, they can resume shopping and even assess varying price ranges.
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Service contract sales can happen in the service lane when dealers tap into this potential, says Jim Fisher, assistant vice president of Dealer Programs for AGWS.
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There are at least three reasons your dealers need data when confronted with allegations of disparate impact.
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According to ZeroSum data, new vehicle inventory is expected to rise 2.87% by the end of August while used vehicle inventory could fall 3.48%. At the same time, average new vehicle prices rose 0.10% to $48,429 and used vehicle prices increased 0.53% to $34,242.
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Dealers need to be vigilant in developing a strategic plan to seize new opportunities so that they continue to thrive.
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Inflated vehicle prices, parts and labor costs can affect reinsurance and loss ratios. The time is now for dealers to ask questions about their reinsurance.
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