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Playing the Long Game for Better Results

Tips for thinking critically about emerging trends

The auto industry has been significantly impacted by the pandemic, with sales dropping and production delays. Dealers have had to adjust their strategies to meet changing market needs by offering special financing and other incentives to attract and retain customers.?

Top market trends?

1. Post- Pandemic Increase in Negative Equity

2. Decline in Leasing Causing Further Issues in the Industry

?Strategies

1. How many times has a customer walked in your dealership thinking they still had value in their vehicles? As of recently, most of these customers have more debt than cash value. That means no trade-ins and consumers are having to hold onto their vehicles longer. In order to keep customers from looking elsewhere, dealers need to understand the importance of keeping service costs competitive. Focusing on customer loyalty and retention ensures repeat business and a steady flow of sales and service. You can also utilize special payment tools PRO offers to assist customers with affordability.
2. Another lingering effect of the pandemic is the decline in leasing. Customers are either returning leases before their time or deciding to buy outright. Which is keeping used vehicle prices high. If dealers want to make their current leases more profitable, they should make sure their F&I department is their profit center by offering customized warranty packages, like chemical protection, GAP, and paintless dent repair. All of which PRO offers, and more.?

This month's big question:

What other issues can be anticipated to linger post-pandemic?

The Art of Putting Prospects in a Buying Mindset

Getting customers to buy isn't always easy. We have to create an experience for the customer that they won't be able to find anywhere else. Putting prospects in a buying mindset is easier when you build a process. Although customers may not remember everything you said, they'll remember how you made them feel. This will get them back in the future if they can't make a purchase today.

You are the PRO- What are some additional traits buyers look for in a salesperson?

Add your voice here.

Key Traits for Sales Success

We must believe in ourselves before we expect a customer to. To achieve sales success, we must have faith in our own abilities and have the drive to reach our goals. We must have confidence in our product and believe in ourselves before we can expect to make any sales.?Our success can only be delayed by us. No matter how tough the times get, there's always a way to win. Stay positive, stay focused- you have all the keys you need to be successful in sales!

Share your thoughts with us here.

Blog: Sales and F&I Teamwork Win Championships

We all know sales & F&I are two different departments in the dealership, but what if we told you how powerful they are together? In addition to boosting the sale, communication would enhance the value and customer experience. The best outcomes are achieved when sales and F&I work together to maximize every opportunity. Access blog here.

In The Community: Supporting Women in Automotive Retail

?As a company, PRO is proud to invest in the growth and success of our industry, and to create a more diverse, dynamic, and prosperous future. This month we are focused on women empowerment. Supporting the Drive to Succeed Scholarship from GM Women's Retail Network will help some ambitious women achieve great things in automotive retailing.

Ask us anything

Do you have any questions related to dealership growth, F&I products and profitability, sales strategies, or your professional development? Get a free discovery consultation-?Write to us.