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In today’s fast-paced automotive environment, many consumers find themselves contemplating whether to extend their car lease or return the vehicle at the end of the term. Is now a good time to extend your car lease, or should you wait? Monitoring interest rate trends is crucial when considering a leaseextension.
I think we’re still going to do it, I just think what we do [this year] will be less,” said Andrew Gilleland, head of the Lexus Division, to Automotive News. Even for brands that are offering year-end sales events, dealers should still expect promotions to look different, including significantly shorter sales. “I
While the automotive industry has encountered numerous disruptions in recent years, the current market is presenting entirely new challenges and opportunities for auto dealers, even as inventory levels begin to normalize. The long-term financial implications of customer buying habits shifting are huge for dealers. .
Through July 2021, CPO sales increased by 11% year-over-year However, as pandemic-driven leaseextensions begin to expire, CPO supply constraints are expected to improve, providing a potentially lucrative opportunity for dealers to engage buyers and build loyalty through CPO sales.
This is where the science of data meets the art of automotive sales, and it’s never more important than during a crowded holiday sales season. As COVID-19-driven leaseextensions expired last year, offering some brands and dealers a unique opportunity to take advantage of the growing segment and build brand loyalty.
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