Around 330 million people said they'd consider buying a used car for their next purchase. That's nearly 70% of the American population, and those are pre-pandemic numbers. Now that we're maneuvering a chip shortage, the door of opportunity is wide open for used car sales, despite inflation. Customers are hardly thinking of a deal when they buy a car in the fall of 2021; they're mainly trying to get a fair price. Today, you don't have to bottom out prices to drag someone in the door. Instead, price your used cars the same way you would if they weren't impossible to come by and boost profit with accessory sales. Used car buyers were already populous and are now joined by other buyers who couldn't even find a new car to buy. There's a straightforward strategy where everybody wins.
The year was 1997. Blockbuster looked down from its throne to scorn the new court jester. The jester danced with enthusiasm and grit, smiling warmly at the King of Video Rental. Blockbuster rolled its eyes and signed off on a late fee for Good Will Hunting. There are a few details to spare, but the King later died a tragic death. The jester took the throne, and quadrupled the kingdom. The jester is Netflix, and his legend is clear: don’t get too comfortable or the joke is on you.
Cut the fluff. We might be shutting down again.
This time, rather than lamenting, we focus on preparation. In the end, if everything is able to stay open, we’re only that much more prepared to do business.
No dealership has escaped the evolution of the automotive industry due to COVID-19. Since the onset of the pandemic, businesses around the globe have had to respond accordingly. As the world slowly re-opened in a new way, consumers were quick on the draw to review businesses' safety precautions, interactions, conveniences and more.
Those who rose to the occasion attracted clients. Those who made mistakes, no matter how small, suffered at the hands of the Internet. How you continue in your COVID-19 response will set you apart as the pandemic and coming months unfold.
If there’s one thing we’ve learned from the first half of 2020, it’s that toilet paper was never the answer.
That in mind, we press on, looking first to survive, then creatively thrive. July, which is about level four of Jumanji, has presented a game advantage in the form of a delayed tax day. After a few difficult months, a final wave of income tax returns makes it possible for consumers to take the bait on a new vehicle. America threw us a bone and we’re going to accessorize it.
Eighteen-year-old Samantha Dorton is fresh out of high school. With a spirit of optimism, she initiated plans to leave the nest. Her first stop on the road to independence was a local dealership. Samantha’s mother, Khrystal Dorton, Insignia Group’s Customer Care Coordinator, asked her daughter to be self-sufficient before she flew on her own.
“That meant getting her vehicle fixed, or purchasing one that ran,” Khrystal said. “She decided to buy a good one and leave her 2001 Nissan Pathfinder behind.” Armed with her approval specs from the bank and a good idea of what she was looking for, Samantha was ready to face the car-buying process head-on.
St. Patrick’s Day has got us all toting rabbit’s feet. Donning green from head to toe, decorating our cubicles with four leaf clovers, and holding out hope for uncommon luck--all while being largely unsure of what we’re observing on this obscure holiday.
Is there a pot of gold at the end of the rainbow? Is the rainbow literal, or figurative? Do leprechauns really eat marshmallow cereal? Don’t take this same level of confusion into your Vehicle Personalization program. Follow me into the magic of the metaphor, and sell more accessories this March 17th.
Topics: Accessories System, Sales Best Practices, Customer Retention, Increase Profits, Dealership, Vehicle Personalization, accessories, Showroom, accessory program, Best Practice, Accessories sales, tips, increase sales, profit, cash
Ahh, Valentine's Day. Love is in the air—$18.2 billion worth. America is love sick, and it’s time the automotive industry snatched that love out of the air and put it on the road. Love is blind but car buyers are not, and there are plenty of personalization options to shower those new car purchases with TLC. Implement these tips this Valentine’s Day to make your buyer feel special and show your staff some love.
It’s the most common New Year’s resolution year after year: lose the weight. Shed that which is unwanted and not serving you. Lean out, get stronger, increase longevity. This annual commitment resounds all over the world and it’s no surprise that the diet and fitness industry is well into the billions.
Your dealership might not be on Keto, but you can still make wait loss your goal in 2020. Vehicle Personalization, after all, rivals diet culture as a lean, mean, multi-billion dollar industry. You can be proactive about replacing the dreaded wait time with a successful shopping experience.
The inception of a new program in your dealership can seem daunting, but it doesn’t have to be. The shock factor, followed by fear and trembling and all-out anarchy can be easily avoided when management is a united front. Save the drama and your GSM’s spike in blood pressure by rolling out your accessory program from the top down.