It’s finally here...the end of the year. And while things may not have gone as expected in 2020, it was definitely a time to come together as a community and stand tall. As we prepare for the new year, let’s take a moment to reflect on the past 12 months and round-up the top viewed blog posts of 2020.
5. How Car Dealers Should Calculate Inventory Turnover
The automotive retail business has changed a lot in recent years. People don’t shop for cars the same way they did a few years ago, and dealerships don’t sell cars the same way (or at least they shouldn’t). Dealers have also changed how they make business decisions, too. Read more.
4. The CarMax Effect: The New Reality at Auction
I’m hearing a lot of hesitation about buying at auction. I was on a call with a dealer and he said, “Man, these guys from CarMax and Carvana are standing in the lane with their hands up buying everything.” I get that you just aren’t able to buy cars for what you want to be buying them for, but what’s your choice? You just don’t buy anything at all? I understand this isn’t my money, it’s yours, but unless you can fulfill all your needs through trades, you still have to buy stuff. Read more.
3. New: Access to Window Stickers for MAX FirstLook Customers
Millions of window stickers are now available across sixteen OEM brands: Ford, Chrysler, FIAT, Jeep, Nissan, Audi, Ram, Lincoln, Alfa Romeo, Dodge, Infiniti, Hyundai, Mitsubishi, Kia, Genesis, and Volkswagen. Read more.
2. MAX Digital Coronavirus Impact Survey
How has the Coronavirus changed the way consumers purchase cars? According to our survey, respondents stated that their lives are in transition right now, especially in regard to their jobs. What they want in a vehicle hasn’t shifted significantly, but the timing and how they might buy it has. Many expect to delay buying a vehicle and the opportunity for online vendors is growing.
Read more.
1. Why Dealers Shouldn’t be Afraid of Carvana
The key differentiator—and your biggest advantage over Carvana— is your staff. Your people. The truth is people buy cars and buy products from people they know, like, and trust. Sixty percent of customers still end up leaving the dealership in a different vehicle than they intended, even after conducting 11 hours of research before arriving.
Read more.
And that is our wrap-up for 2020. At MAX Digital, we are very thankful for all the hard work and dedication of everyone in the automotive world. We look forward to a productive and prosperous 2021. As we prepare to usher the next 12 months, we encourage you to implement the right solutions and technologies that will elevate you to a new level of success. MAX Digital is here to support you and assist you in achieving your business goals. To learn more, schedule a free demo today!
