The past year-and-a-half have created a major shift in the automotive industry and how cars are sold. Quite frankly, many processes changed for the better and dealerships have come out the other side much stronger and more efficient. Consumers have come to expect a faster, more unique car-buying experience. In the midst of the […]
What Customers Want In a Car-Buying Experience Post-Covid Read Post »
The microchip shortage is causing issues that are rippling across the automotive industry. As soon as we think we’re out of the woods with Covid-related problems, this happens. Then the issue was exacerbated by a March fire at a microchip factory in Taiwan, a plant responsible for 20% of the world’s production! It’s affecting
The Microchip Shortage Bounce Creates a New False Market Read Post »
Succession planning isn’t something anyone wants to talk about. It’s hard to face mortality and have uncomfortable conversations with family, but it’s important to have them in order to carry on the business and the family legacy. A dealership is likely a principal’s biggest asset, and there should be a plan in place for how
Is your Succession Plan in Place? Read Post »
As more and more brands allow for online sales, the agency model may be coming for dealers’ heads. Two years ago if you had told us that the future of car dealerships was in trouble, we wouldn’t have believed you. While online vehicle purchases were on the rise, the vast majority of people were still
Is Agency Selling the Future for “Dealerships”? Read Post »
Throughout the life of any business, having a proper valuation is important for several reasons, but many dealerships, especially legacy family businesses that have been in business “forever,” have not gotten a valuation done in years. There are many companies out there that can do business valuations, but dealerships are different, notably due the fact
The Importance of Accurate Dealership Valuations Read Post »
As vehicles become more technologically advanced and the push for electric vehicles grows, it was only a matter of time before we started seeing tech companies enter the auto industry. We’ve seen partnerships for years for things like software, infotainment systems, cybersecurity, and battery technology. But now, tech companies are releasing cars of their
Tech Companies are Changing the Auto Industry Read Post »
Just when production levels started leveling out from Covid-19 shutdowns, automakers are facing a new problem: a semiconductor chip shortage. Once, again, factories are closed or on delayed production schedules, waiting for these components. It’s strange to think that something so small could cause such a huge issue – an estimated $60 billion issue!
How is the Chip Shortage Affecting the Auto Industry? Read Post »
Auto subscription services aren’t exactly something new. The first known service was started in Honolulu in 2010, but we’ve come a long way since Rima Braden Autosource’s “Flexlease” program. Many major OEMs now offer subscription services. It’s no surprise that luxury brands like Porsche, Cadillac and Volvo were among early adopters in 2017, but
Are Automotive Subscription Services Here to Stay? Read Post »
So here we are…2021. We finally made it out of 2020! Does that mean the auto biz will get better? Well for the auto industry, business has been on an upswing for months. Let’s face it. This country is driven by the auto industry. Our successes (and failures) foretell what the economy as a whole
The “Covid Bounce” Continues Read Post »
It’s a question we’ve been asking. With high unemployment rates and exponentially higher repayment issues, banks are still giving out auto loans. At the end of September, approximately 3.8 million auto accounts were enrolled in some form of financial accommodation program, meaning the owners couldn’t make their payments. It’s understandable with mass lay-offs and
Why are banks still financing car loans? Read Post »
