For the second time in three months, the Journal has cited fewer than a handful of cases as “proof” that fraud is widespread in the vehicle finance industry – which just so happens to engage in more than 35 million transactions every year.
Franchised dealers have worked tirelessly to adapt to changing consumer preferences and to utilize new commerce tools. It’s what’s gotten them ready to handle the wave of delayed first-vehicle purchases, and it has them very well prepared to serve the needs and wants of generations to come.
Technology vendors can provide tremendous value for dealers, but some vendors have abused their access to dealership systems in an effort to obtain and leverage customer data for themselves.
While auto shows measurably ignite consumer excitement for a brand, perhaps their greatest impact is on vehicle purchase consideration and brand loyalty—the two metrics that just so happen to matter more than any other in today’s ultra-competitive market.
In today’s market, America’s new car and truck dealerships sell around 50,000 new cars and trucks a day. Consumer access to affordable credit at dealerships, and interest rate discounts that local dealerships can provide their customers, are keys to driving those sales.
As we wind-down another good year of new-vehicle sales and get ready for what could be tougher sledding, I have a request for some of our OEM business partners: Do the right thing by your dealers—it’s also smart business.
The goal of federal fuel economy regulations shouldn’t just be the highest possible standards, but rather the highest standards the industry can achieve while keeping new vehicles affordable.