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Auto dealers are investing millions of dollars to expand and upgrade their facilities to provide more conveniences for an increasingly demanding buying public, according to the Detroit News.
According to dealers, this is the right time to build because the interest rates are down. "We expect the remodeling that was going strong in the last year to continue, said Paul Taylor, chief economist at the McLean, Va.-based National Automobile Dealers Association (NADA).
A NADA survey of new car dealers in America in
2001 showed 44 percent of money spent on expansions goes to making great showrooms. A sizable amount of money also is expended on landscaping, customer waiting areas and the structure that houses the cars, according to the News.
The increasingly important profit center continued making gains in the first quarter, according to StoneEagle data, ancillary products proving more popular as consumers hold onto their buys longer.
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For dealer-owned reinsurance entities, avoiding volatility entirely can mean falling behind inflation and missing market rebounds that drive long term surplus growth. Missing just a handful of strong market days can materially impact cumulative returns—an important reminder for long horizon trust and investment strategies.
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In this video, Ryan Ruff explains the rule that elite sales professionals use to turn ordinary conversations into unforgettable customer experiences.
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What’s the atmosphere saying about you to your customers? You can make minor adjustments and additions that transform your space into one that creates trust with the people on the other side of the desk.
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How can auto dealerships help F&I managers fulfill their vital role in the most effective ways? Industry expert Rick McCormick shares his insights on the best ways to train these professionals and help them maintain good habits.
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More consumers and businesses are opting for all-season options for various reasons as safety, sustainability and convenience push practical change.
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It’s time to take the next digital step to free F&I managers to handle the most challenging aspects of customer meetings.
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Some of it should be given to the customer, but that doesn’t mean the F&I office relinquishes the process. In fact, a different approach both builds trust and boosts sales.
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Talk to F&I customers like you’d talk to a friend, without industry lingo or sales-like questions, and use hard proof to show, not tell, them about a need.
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