Two of the most important questions car shoppers ask themselves when purchasing a vehicle are what type of vehicle am I going to get, and who am I going to get it from? An analysis of a 2015 survey provided a glimpse of what drove the shopping decisions of potential re-purchasers.
The gap between list price and transaction price has steadily declined since 2009. To overcome this profit margin compression, dealers must increase overall operational profitability by reducing overhead, freeing resources to focus on profit centers, and selling more vehicles at a faster rate.
Dealers must adapt to survive in today’s increasingly competitive and changing automotive marketplace. When it comes to car shopping, consumers are making informed decisions and calling the shots more than ever before. As a result the dealerships that adapt are the ones most likely to thrive.