The phone is an auto dealer's most essential sales tool. According to a study by Google, 70% of mobile phone users said they would call a company if making a high-value purchase like a car.
It’s been a challenging 18 months for the auto industry. Inventory shortages, rising prices, and higher interest rates are having a dampening effect on sales. Economists expect annual sales for 2022 to be 4.5% below 2021 levels, which were also down because of the pandemic. Sales are expected to bounce back in 2023 by nearly 5% year-on-year, and in 2024, sales should increase by almost 4%. So, it will be a slow progression back to pre-pandemic levels for the industry.
Would you believe me if I told you that one of themost powerful ways to market your dealership is through automotive text messaging? It’s true! If you want your valuable information to not only be seen, but be seen in a timely manner, then send out a text. An astounding 98% of text messages are opened, where only a mere 20% of emails are read. On average it only takes 90 seconds for a mobile phone user to respond to a text message, creating a higher probability that customers can be reached in real-time.
The NADA Show is back for 2022 and it looks like it’s going to be better than ever! After years of social distancing, we’re excited for the opportunity to gather in person and put names to faces.
The ongoing chip shortage is causing severe auto inventory constraints. This extremely limited supply is costing the industry millions in lost unit sales and billions in lost profits. However, automotive dealers are adept at managing adversity. Dealerships have done it in the past: remember the 2009 crash followed by cash for clunkers?