White Paper: Auto Dealership Strategies for Today’s Competitive Marketplace
A more competitive business environment is the new normal for automotive dealers in 2023. Inventory levels are stabilizing while direct sales and online-only competitors continue to encroach on dealership turf.
Dealerships can win at the retail level by blending the ease of online shopping with the knowledgeable, caring human touch of an in-store presence. A great “in-person” experience wins in a competitive market.
Leverage this advantage with four key tactics:
- Develop meaningful local lender partnerships to help customers find the financing they need.
- Win the retail touchpoint with an outstanding physical experience that 75% of customers still rely on.
- Use digital lending platforms to improve funding times and free-up cash flow to buy more inventory and sell more cars.
- Prepare for “high-touch” electronic vehicle (EV) sales by establishing relationships with EV-knowledgeable lenders.
