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Current geopolitical challenges and mandates aside, automotive retail is constantly evolving, and is impacted by many factors. We may not have a crystal ball that lets us see the future of automotive retail, but we can gain valuable insights from the people that live and breathe it every day. We identified six key trends.
He said: “I am a director of the Retail Automotive Alliance and we know from some of the discussions there that dealers are not doing the numbers that they had anticipated.” Chairman Brian Gilda has said seeing figures down is disappointing but not surprising as a similar pattern is being seen across the industry.
What dealer principals should be focused on — is what they can control. Strategies for performance optimization To increase the value of a dealership, principals should consider how to best leverage and optimize their capital – human, financial, relational, and intellectual – to maximize the sale price when it’s time to transact.
Jim Price Auto Group’s 50 years of auto retail success, their reputation for superlative service, the power of the Chevrolet brand and the dealership’s prime real estate made it a very attractive acquisition that generated strong interest from buyers. To access The Kerrigan Index™, click here.
As one dealer principal told me while I was gathering facts and information for this article: “When we are going through a phase with margin compression like we are now — we look at EVERY expense to see, where we can reduce or cut costs.” The other side of the scale — or the equation — is costs.
As for the more global image of Canadian retail sales, the auto sector experienced continued growth in key parts of the market. For example, new vehicle dealers saw retail sales jump 3.7% And used vehicle dealers saw retail sales increase 2.2%. increase in retail sales for 2024 to $15.4 compared to 2023, up to $174.0
The Reynolds and Reynolds company announced Shawn Leibold, director of industry relations for Reynolds, was selected in a special election to fill a vacant seat on the board of directors for the Standards for Technology in Automotive Retail (STAR), the leading automotive IT standards organization.
Shawn Leibold, Director of Industry Relations for Reynolds and Reynolds, was recently selected by the company to fill a vacant seat on the board of directors for the Standards for Technology in Automotive Retail (STAR). STAR is an automotive information technology standards organization.
DSMA Managing Partner Maxime Théorêt co-founded QUOTUS, a provider of financial intelligence solutions for auto retail, which recently launched a software as a service (SaaS) platform to help dealerships transform complicated financial data into actionable insights so they can quickly make decisions.
Todd Bourgon, CEO and Executive Director of the Motor Vehicle Retailers Ontario (MVRO) Todd Bourgon, CEO and Executive Director of the Motor Vehicle Retailers Ontario (MVRO) talked to dealers about the work his association is doing to recruit foreign-technicians to help the province’s dealerships fill their labour shortages.
Unlike in other countries, like the United States, GST is not a hidden tax and is included in the advertised retail price charged for goods and services. The most important part of that list is the commercial vehicle is not designed for the principal purpose of carrying passengers.
That was followed by a powerful testimony from Laura Murphy, automotive retail specialist from Google Detroit on self-care and how to “Be your Own Best Friend” as well as how to tell yourself “#IAMREMARKABLE” and believe it. This was an incredible session. Following the world-class lunch, the breakout sessions were in full swing.
Using its new AI-powered data-mining software, retail automotive advisory firm Dave Cantin Group (DCG) can now provide accurate, reliable data-driven valuations for any new-car dealership in the United States, regardless of brand, location or direct input from the dealership.
Some dealers are branching into other business areas to spread out their risk and reap new rewards S ome auto dealers are transforming into retailers who also happen to sell vehicles. There are also some dealerships that have developed businesses that are not directly related to auto retailing.
The General Managers and Dealer Principals that I speak to are always brainstorming new ways to improve their business. In retail automotive, there’s simply no time to sit back and watch your business run, thinking, “Things are just fine the way they are.” And I mean always. It’s like they can’t turn it off. Ready to learn more?
In 2017, his daughter Sandra Price Amato became the dealer principal, continuing the family’s legacy as one of Charlottesville’s top dealer groups. The Kerrigan Auto Retail Index is designed to track dealership valuation trends, while also providing key insights into factors influencing auto retail.
Successful car wash operations — whether in the retail realm or at a dealership’s service center — must maintain a reliably symbiotic relationship between two principal metrics: throughput rate and vehicle cleanliness. Drive-thru car washes should be a first-choice technology option for fleet-wash operators. How’d They Do It?
While the unexpected ups and downs of the early pandemic marketplace are largely behind us, today’s auto retail market is much more volatile than many experts forecasted. This means rather than dealing with year-end sales, auto dealers have been rushing to move as many new vehicles as possible — every month.
“Looking back at a tumultuous year for auto demand, the December sales result reflects apparent steadiness in the market,” said Chris Hopson, principal analyst at S&P Global Mobility. As of mid-December, used retail days’ supply was 49 days, up two days year over year but down three days compared with the same week in 2019.
a 7% increase from the estimated 2022 tally,” noted Chris Hopson, principal analyst at S&P Global Mobility in a December report. To combat the convenience of online-only retailers and other local rooftops, dealers need to simplify every step of the buyer journey. According to S&P Global Mobility , U.S.
A good example of that happened in Ontario in May when a proposal was put forward to the Ministry Of Public & Business Service Delivery to allow consumers a two-day cooling-off period to back out of a car after purchasing it. The rationale being that consumers need to be protected from themselves.
Bryan was not only one of this country’s most successful dealers but he was also an innovator that did not fear tackling new and often risky projects, which he always managed to develop into successful ventures,” said Gauthier. Bryan started in sports car racing, which led him on a path to automotive retail in 1957. and Montréal, Qué.,
Capabilities and limitations of advanced driver assistance systems require better explanation, survey finds Widespread confusion regarding the capabilities and limitations of advanced driver assistance systems (ADAS) is developing a trust gap with modern cars. ADAS are deployed in different ways by different car makers.
The principal activities of the group now include the sale and distribution of fleet and retail cars, vans and trucks, the refurbishment of contract hire, rental and fleet vehicles after completion of their contracts, the service and MOT of vehicles and wholesaling of truck, car and van parts.
Author: Nicole Pinto – Director Customer Marketing, automotiveMastermind ASOTU CON , the annual gathering of retail automotives leaders, innovators, and thinkers, once again proved to be an invaluable space for discussing the future of our industry. the auto industry has recognized the power of developing its workforce.
Colton LeBlanc, Nova Scotia’s first Minister of Growth and Development, Economic Housing and Acadian Affairs, gave a brief talk and passed along greetings from the Nova Scotia government and thanked the industry for its contribution to the provinces economy. He said he always sees dealers as retailers. We really need your help.
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