The automotive market will continue along its 2018 pace in the coming year according to many analysts in the industry. Used vehicle sales show potential for significant growth as average transaction prices continue to rise. Some analysts remain wary and project a potential “flattening” in the market, but this in itself is good news in a sense.
Negotiation time and the time to complete purchase remains the number one complaint of car shoppers. According to a recent study that polled recent car buyers, the amount of time it takes to complete a car purchase continues to grind customers' gears.
According to a recent study, shoppers are spending less time in the market for a car than in previous years. With this in mind, how should your dealership go about capturing buyers in their ever-shrinking buyer's journey?
Today I want to try and give a little food for thought about your pricing and sales strategy by talking about one of my favorite subjects: pricing psychology. A good understanding of pricing psychology is a powerful tool for dealers because it shows that in the end it’s not the price that drives the customers behavior, it’s the perception of the price. In a sense, every pricing manager is also a perception manager.
At Edifice, we're always looking towards the future, but this week we take a look at the past for a bit of American industry history. Fourth of July is just around the corner and in honor of Independence Day we will be looking at (in our opinion) the 4 most influential cars in American history.
Yes and No. Yes, less demand for your brand means less of that brand sold in relationship to other brands in your market area. That's a given. However, the demand for your brand does not have to limit your individual dealership’s performance. Your dealership can increase market share even when demand for your brand is down in a couple ways:
The way that people buy products has been changing drastically over the last 10 years. In the past, once a consumer developed a need or desire for a product or service they would need to take a trip to a brick and mortar location in order to learn more about the product. From there they would find out more about the product or service through speaking to an associate or inspecting it themselves. If they decided that they did indeed want to make a purchase, they would select the specific item...
