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Every year, dealerships across the nation leave hundreds of thousands of dollars on the table. 

Though 2020 brought hardship to the industry, 2021 brought record sales numbers that are only expected to rise this year. It's good news, but it's unstable at best. Nobody saw the pandemic coming, the chip shortage was unprecedented, and digital retailing fundamentally changed car buying. So what's a dealership to do? Take hold of what's historically unchanging and sweep up that $460,000 in accessories to start. That's right, according to the latest report, New Vehicle Dealerships are responsible for $6.9B in accessory sales every year, so that means if you aren't making at least $460,000 a year in accessories, your competitor is taking your money. Of course, dealers with the right accessory process will find much more than that.

Brand loyalty has a longstanding tradition of being an excellent lead catcher for dealerships. While the appeal of the OEM remains for many customers, it’s become more complicated. Today, customers are better researched than ever before and lean heavily on reviews to make purchases. Throw in a historical inventory shortage and even your best customers are liable to jump ship out of necessity. This year, dealers have to pivot marketing efforts to capture every lead they can.

If you bring up low inventory at family Thanksgiving this year, you're canceled. 

"Let's talk about the chip shortage over cranberry stuffing," said no one ever. We don't have a lot of inventory, guys. So let's bedazzle what we do have and slide into 2022 with a bit of pep in our step. Yes, this year was supposed to be better than the treacherous pandemic year and didn't deliver. Through these rose-colored glasses, however, 2022 is looking pretty good. There are steps you can take today and into Q1 to turn survival into thriving next year. 

Is anyone else sick of being cynical? The doom and gloom surrounding the automotive culture are getting too heavy to lug around. As we creep into November, it’s clear that low inventory will continue into 2022, so we’ve got to find a way to make lemonade. While OEM’s and the media are projecting a pessimistic outlook as the world tries to rebound, low inventory can bring opportunities you may not have considered. As we wait for something to change that’s out of our control, let’s make the most of this time. 

Whether you’re Papa’s Car Lot sitting on 1 acre or a corporate mega-store spanning multiple lots, you can boost your bottom line with accessory sales. It’s that simple. Accessories are a multi-billion dollar industry, largely unaffected by the pandemic. Selling them at the point of sale is a proven method of increasing PNVR. The caveat is this: dealerships who pitch accessories chaotically will stumble into success on occasion and overall miss the mark. A successful accessory program requires a process catered to your store. The good news—dealerships are quite accustomed to a process. While the exact flow will vary from store to store, many best practice fundamentals remain the same.

The automotive industry had one of the most striking yo-yo effects, from the onset of the pandemic to today. First, Covid shocked the globe and shut dealerships doors, causing everyone to fret about the industry's future. Today, we're navigating chip shortages and selling units for more money than we were before the virus. In a fascinating turn of events, used cars are increasingly harder to come by, new vehicles are selling like Black Friday specials, and inflation is staggering. With no end to the chip shortage in sight, dealers are progressively focused on moving used vehicles. Through the use of technology upgrades, you can create the vehicle your customer really wants—regardless of inventory. You'll give any old vehicle a serious makeover, create a satisfied customer, and turn a profit without overcharging.