Succession Planning for Dealers in an Evolving Business Environment
Initiating a succession plan will bring relief in clarifying your goals and creating strategies that maximize the value of your business and legacy.
Initiating a succession plan will bring relief in clarifying your goals and creating strategies that maximize the value of your business and legacy.
Opportunity will knock in the second half of 2022, but industry leaders still recommend those in retail automotive and F&I proceed with caution.
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.
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.
With these advertising strategies in mind, dealers focusing on promoting electric vehicles will gain a leg up on the competition and electrify more interest in their local markets.
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.
Dealers need to be vigilant in developing a strategic plan to seize new opportunities so that they continue to thrive.
According to industry experts, the automotive industry is facing upwards of thousands of synthetic identity issues every month, possibly accounting for $1.2 billion in fraud alone.
With these advertising strategies in mind, dealers focusing on promoting EVs will certainly gain a leg up on the competition and electrify more interest in their local markets!
Bob Giles, TIME Dealer of the Year and owner of Giles Automotive in Lafayette, Louisiana, commits his career to giving back to the communities that have given him so much.
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