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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. This process can seem daunting, especially when market conditions fluctuate. Is now a good time to extend your car lease, or should you wait?
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. This helps to engage with relevant and timely messaging that keeps them informed on the current market.
Instead, this year Honda launched a new brand-focused marketing campaign promoting the brand’s overall quality, safety and reliability demonstrated through the years. 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.
Dealerships can’t market with little or no inventory. 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.
With fewer brand incentives and deals than in previous years, it’s critical dealers take a targeted and proactive approach to their holiday marketing. With fewer brand incentives and deals than in previous years, it’s critical dealers take a targeted and proactive approach to their holiday marketing.
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