MarketSource Automotive Sales and Performance Insights
The auto industry faced some interesting challenges during 2023. The fleet market showed signs of recovery, and inventories picked up after a slump the year before. Car buyers expressed pent-up demand, driving sales up. Yet, recession fears kept many customers off both used and new car lots and higher interest rates have been a clear obstacle.
Check out our most popular blogs from last year for a deeper dive into all those issues and the best practices we relied on to help our auto dealer and manufacturer partners navigate a notable year.
A New Year, A New You – Auto dealers experienced a bit of everything in 2023. The chip shortage and dwindling inventories affected the entire industry, just as customers’ buying behaviors were changing. Prices rose and so did industry-wide prosperity. Facing a new normal, our automotive client experts suggested some New Year’s resolutions that remain valid today.
The Auto Technician Shortage: How Do We Fix It? – Although the number of automotive technicians at dealerships and independent shops has trended up, it remains far below what the industry needs to keep pace with consumer demand. This blog from an expert on our automotive team explains why the shortage is happening, how the industry can fix it, and what auto dealers and repair shops can do meanwhile.
How Healthy is Your F&I Auto Team? – Car dealer F&I departments represent a significant source of dealer income. As go-betweens with customers, dealerships, and lenders, they must stay motivated and vigilant so they can drive sales, keep pace with technology, and make customers happy. Explore ways to optimize your F&I team and empower them to become elite contributors to your bottom line.
At the Door: Auto Recall Teams Help Manufacturers Close Gaps and Save Lives – It’s not often that a managed sales organization like MarketSource gets to help save lives, but that’s just what our auto recall teams do every day. Our field teams locate customers, complete repairs, capture data, close repairs, and deliver comprehensive reporting, but underneath the work is the chance to save lives. Here’s their story.