Automotive News

In a business that counts on a steady flow of people coming in for test drives, here are some tips on how to keep your car dealership showroom running in light of the coronavirus situation.

Car dealerships in many states are being affected by stay-at-home orders due to the coronavirus. However, many dealers are going above and beyond for their customers in response.

Many automakers are taking steps to help out customers who've fallen on uncertain times in light of the coronavirus pandemic. We're taking a look at what some brands are doing, and how your dealership can maximize business in these changing times.

Data shows that auto loan originations increased at the highest rate in four years, making it a great time for dealerships to sell more cars, especially to subprime borrowers.

The Experian Q3 State of the Automotive Finance Market report shows metrics that are up across the board, including loan amounts, terms, and interest rates.

The way buyers view the brand your dealership sells is important. When consumers are satisfied with their car, it leads to repeat sales and increased word of mouth.

Two recent studies from J.D. Power looked at how important brand loyalty is, and which automakers are producing vehicles that appeal most to consumers. Dealerships can use the insights from these studies to better drive sales.

With the industry still focused on rising new car prices, one trend that has emerged is that borrowers with the best credit are turning to used vehicles for their affordability. Experian's latest quarterly report found that certain trends, such as rising prices of new cars leading to an increase in used vehicle sales, haven't shown signs of slowing down.

Millennials have turned just about every perception of their generation on its head, including the insight that they have no interest in buying vehicles. Not only are Millennials about to become the largest demographic group in 2019, they're gaining in automotive market share, according to Experian.

Data from three different institutions shows that subprime auto loan and lease originations are on the rise. Does your dealership have what it takes to capitalize when it comes to these borrowers with bad credit? If not, Auto Credit Express has the leads and tools your store needs to dominate your subprime market.