Cadillac requiring dealers to make $200,000 in upgrades for EVs

Cadillac requiring dealers to make $200,000 in upgrades for EVs https://ift.tt/2ZHMaYX

The luxury brand told its 880 U.S. dealers that they will need to invest in chargers, tooling and training before the Lyriq EV arrives in late 2022.

Leveraging digital advertising during pandemic for quicker recovery

Leveraging digital advertising during pandemic for quicker recovery https://ift.tt/35D5YQW

Shifting digital ad spending to fixed ops campaigns is a big reason fixed ops have been a driver of revenue for auto dealers this summer, and most likely for the remainder of the year.

CarEdge launches consumer-focused website offering vehicle research, listings

CarEdge launches consumer-focused website offering vehicle research, listings https://ift.tt/3koAmTk

CarEdge, which launched this year, will combine its vehicle research on resale values with active listings and send customer leads to dealerships for free.

Subprime shrinks amid COVID-19 sales conditions

Subprime shrinks amid COVID-19 sales conditions https://ift.tt/3c1HFNK

Tighter credit and limited showroom access likely caused the notable decline of consumers in lower credit tiers, exacerbating a trend in motion since 2013.

More changes to come for F&I process online

More changes to come for F&I process online https://ift.tt/3mqPRvN

Automobile dealerships changed digital processes radically through the coronavirus pandemic, especially the finance-and-insurance portion.

A new survey from F&I product provider Protective Asset Protection indicates more change is on the horizon — especially when it comes to allowing customers to research F&I products ahead of time.

Sixty-five percent of the survey's 400 dealership respondents said adding F&I product information to their websites was their next priority. More than half of respondents also said customers should be able to select and purchase F&I products and finalize all paperwork online.

The changes themselves are not new — but the levels of dealership adoption may be shifting toward a majority.

"Creating a digital retailing environment with access to F&I product options is paramount to the success of any online retailing strategy," Rick Kurtz, senior vice president of distribution at Protective, said in a statement.

Dealerships have been incredibly flexible and fast-moving when it comes to transacting online in the COVID-19 era. But many believe there are more changes on the F&I horizon.

TrueCar adds executive leadership roles

TrueCar adds executive leadership roles https://ift.tt/3iFjsPC

Vehicle listings site TrueCar created new executive roles, including COO and chief consumer officer positions, amid an ongoing restructuring.