Raise a glass to this week’s automotive advancements! Read how dealers are priming their inventories for the fall and why new-car prices could be getting a bit carried away. Plus, three cheers for this year’s top CPO dealer.
FROM WARDS AUTO: New-Car Prices Rising, but for Much Different Reasons
SUVs and in-car technology have unsurprisingly boosted the average transaction price to nearly $37K. However, analysts predict this trend is not sustainable for the average shopper and will end up sending many to the used car lot over time.
FROM AUTO REMARKETING: Auto Remarketing’s 2019 CPO Dealer of the Year: Cavender Toyota
This year’s CPO Dealer of the Year has been the leading seller of Toyota Certified Used Vehicles for four years running. The dealership is on track to sell 3,100 TCUVs in 2019, accounting for 60% of its total used inventory volume.
FROM AUTOMOTIVE NEWS: LaFontaine Is Battling One of the Industry’s Most Stubborn Challenges — and Winning
According to NADA, employee retention has a direct impact on dealership gross profit. Our friends at LaFontaine Automotive Group are strengthening the car buying experience by maintaining a 16% companywide turnover rate.
FROM CBT NEWS: How Dealers Can Trim Down Their New Vehicle Inventories This Fall
New vehicle holding expenses have risen 142% since 2018. Dealers can avoid sitting on margin-busting inventory by staying up to date on market trends, striving for factory incentives, and prioritizing by consumer demand.