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

AutoSuccessOnline

Limited dealership space and rising holding costs further exacerbate this issue, highlighting the need for more effective inventory management solutions. A prevalent strategy among dealers is to utilize price markdowns, dealer trades and extended warranty offers to manage inventory carryover.

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Guide to the Common Dealership Terms When Buying A Car

Car Examer

Here’s a straightforward guide to the most common dealership terms you’ll hear at UK dealerships. When you’re buying a car, especially for the first time, the terminology used at UK car dealerships can feel overwhelming. List Price The list price is the manufacturer’s suggested retail price (the “sticker price”).

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

Dealer World

The success of today’s modern auto dealership hinges significantly on its ability to manage inventory effectively. Despite the availability of advanced technological solutions, many dealerships are still challenged by outdated inventory risk practices that exacerbate their struggles.

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Is an Extended Warranty Worth It for Your Vehicle?

Shawn Ryder

Do You Need an Extended Warranty for Your Car? What is an extended warranty? An extended warranty is like a protection plan that you can buy for your car. It provides coverage for repairs and replacements of certain parts after the manufacturer’s warranty expires. How reliable is your car?

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Industry Trends in Marketing and Sales in the Automotive Sector: A Comprehensive Analysis

Turbo Marketing Solutions

Interestingly, while online research has surged—with 92% of buyers conducting pre-purchase research—79% still prefer visiting dealerships in person. This transformative capability eliminates the need for physical visits to dealerships, enabling consumers to make informed decisions using virtual experiences.

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Does EV mileage matter? Your guide to buying a used electric car

Drive.com

Comparatively, the 2023 Tesla Model 3 Performance, when purchased new in 2023, retailed at $83,400 before on-road costs. Most dealerships will carry out an electric vehicle battery health check themselves before selling a used electric car. “If the warranty on the car is lower, it’s automatically topped up to 24 months.

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How to Crack the Code on Future-Proofing Your Dealership in 2024

Automotive Mastermind

The future of the automotive retail industry is undergoing a significant transformation, ultimately changing how dealerships operate and communicate with customers. The Road Ahead: Future of Car Dealerships in 2024? Buyers New to Your Dealership’s PMA (Primary Market Area) According to U.S.