Implement a few smart service strategies to acquire cars and keep profits high when inventory is low. A lot has been said about the current inventory shortage—causes, effects, and predictions about how long it will last. But one aspect that has flown under the collective automotive retail radar is that many dealers are thriving now. These dealers are sourcing vehicles and staying profitable, despite facing the same industry obstacles.
May 1, 2022
Experts suggest automakers focus their attention on the user experience and greater collaboration as they content with limited semiconductor chip supplies.
April 13, 2022
Auto manufacturing facilities in North America and Europe continue to lose production time over the lingering global microchip shortage, now well into its second year.
April 6, 2022
Hopefully, supply chain issues will resolve sooner rather than later, but until they do, dealers can take the time to prepare for some inevitable downstream repercussions.
March 28, 2022
The Ukraine invasion has ramped up the price of metals used in vehicles and OEMs likely will pass these costs on to consumers.
March 9, 2022
Aluminum jumped up to 4.8% to $3,449 a ton on the London Metal Exchange, while nickel rose to the highest level since 2011.
February 24, 2022
A coalition has asked the U.S. Treasury Department to grant relief to dealers employing the LIFO tax deferment strategy who face excessive tax bills this spring.
February 23, 2022
Production cuts because of a shortage of microchips slow.
November 23, 2021
Ford Motor Co. partners with chip maker GlobalFoundries to address the auto industry’s semiconductor supply shortfalls.
November 23, 2021
Auto dealers around the country are now leveraging advertising to attract cars and trucks, in addition to the shoppers themselves.
September 14, 2021
The company will idle plants in Flint, Michigan; Fort Wayne, Indiana; and Silao, Mexico, just one week after the plants resumed production after an earlier shutdown related to the shortage.
August 4, 2021
AutoNation predicts demand for new vehicles will continue into next year, as low-interest rates and robust demand helped the retailer boost quarterly earnings estimates.
July 20, 2021
Nissan will suspend production of the Murano, Leaf and Maxima at its Smyrna, Tennessee, plant for four additional weeks after its summer shutdown ends.
June 16, 2021
DealerSocket announced the launch of Single Page Appraisal, a new feature available to users of the company’s Inventory+ platform.
December 11, 2019
A Bloomberg report accuses Fiat Chrysler of creating a ‘sales bank’ of up to 40,000 new vehicles, reviving an old practice that could stoke tension among dealers and investors.
November 13, 2019