lanning summer vacations, and most are domestic. With more Americans being vaccinated and many people hoarding days off without realizing it, safe vacations through road trips are highly anticipated. With an increase of 74% YOY in personal watercrafts, 34% increase YOY in boat sales, and a rise in camper sales for the second year in a row – towing is top of mind for many travelers this summer. With low new truck inventory across all OEMs now, more shoppers are considering other options that can help get them to their summer road trip destination.
BI team looked across our network and compared website activity between dealers who dropped the price of the vehicle within the first week compared to dealers who never changed the price of a vehicle. We looked at both new and used vehicles across multiple OEMs. While this data looks across the whole Sincro network, we acknowledge these changes will vary across dealers. This study was completed before the current inventory issues facing dealers.
In a market where shortages of semiconductors, chips, windshields, and foam are an everyday reality, it is still possible for your dealership to grow in almost every department this summer.
Managing inventory in GM’s Digital Dealer Command Center (D2C2) just became easier for GM dealers. Sincro Inventory Manager (SIM) is now an approved dealer vehicle inventory manager (DVIM) for D2C2. SIM can pass all needed VIN level data in one clean feed to D2C2 at no extra charge to Sincro website customers.
Over the last 100 years, the Hispanic* community has had the greatest impact on the demography of the United States of any ethnic or racial group – and there are no signs it is slowing down. Understanding the Spanish-speaking communities’ automotive shopping journey, coupled with implementing a strong online strategy could help get your dealership in front of this growing consumer base.
It is no secret that new vehicle inventory has been an issue in the world of automotive. In recent months, that same issue has been bleeding over to the Used Vehicle department. The bids for used inventory are now almost on par with the current housing market. As time goes on, it becomes harder to justify the costs of most advertising outlets. Dealers are more reliant than ever for their advertising partners to proactively provide solutions to maximize their ROI.
With so many dealers working to acquire used inventory, the landscape is more competitive and expensive than ever before. With auctions charging premium pricing and supply in used vehicles also at a premium, dealers are finding creative ways to boost inventory levels. Here are some ideas to help increase your used inventory and pick up a few sales along the way.
