Remove Customer Remove Extended Warranty Remove Retail
article thumbnail

Lotlinx Industry Survey On Inventory Carryover & Markdown Strategies Reveals Major Disconnects And Challenges Faced By Dealers For Modern Retailing

Dealer World

This task is fraught with challenges that can directly impact profitability, customer satisfaction, and overall operational efficiency. The majority of dealers (18%) manage inventory carryover with price markdowns, dealer trades, and extended warranty offers, followed by 16% conducting aggressive marketing campaigns.

Retail 75
article thumbnail

How Data-Driven Insights Are Shaping Inventory Management in Auto Retail

AutoSuccessOnline

A prevalent strategy among dealers is to utilize price markdowns, dealer trades and extended warranty offers to manage inventory carryover. Data-driven approaches can improve the overall customer experience through several steps. Notably, 40% of dealers apply price markdowns on a weekly basis.

Retail 52
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Toyota DPF class action battle continues in High Court

CarExpert

While extended warranty coverage was offered to compensate owners, the reduction in value of the affected vehicles was initially found by the Federal Court to be 17.5 per cent of their average retail price. Toyota has always sought to implement customer-focused and technically grounded measures to resolve customer concerns. “We

article thumbnail

iA Financial Group adds online sales with Clutch investment

Canadian Auto Dealer

It became one of Canada’s largest retailers of used vehicles in 2023. In other words, Clutch customers can benefit from a simple, and yet complete experience in their online transaction — whether that means purchasing a vehicle or selecting certain types of coverage. Clutch is a Toronto, Ont.-based

article thumbnail

Lotlinx Survey on Inventory Carryover Reveals Dealer Challenges

AutoSuccessOnline

Lotlinx announced results of its latest industry survey, which took the pulse of today’s auto retailers in understanding how they are managing inventory carryover strategies, and where they are seeing the greatest challenge with markdowns as it relates to aging inventory. Click here to see the full survey results infographic.

article thumbnail

MG 4 owner compensation for $10,000 price cut is a discount on another MG

Drive.com

Drive reported last month that MG 4 customers who took delivery in 2024 – but before the price cuts on 20 September – would be presented some form of compensation for having up to a quarter of the new price of their vehicle wiped overnight.

article thumbnail

Nissan Allows Dealers To Sell Cars At A Loss, Up To 15% Below Invoice

Carscoops

Read: Save Over $11,000 On An Acura ZDX Lease But Only If You Drive A Tesla Or Another Acura “We want more flexibility to make better deals and get more traffic into the stores,” said a retailer in a major metropolitan market, who paid about $80,000 in floor plan interest last month on more than 200 vehicles sitting on his lot.