??Let your dealership shine!

July market insights from PRO:

We're officially halfway through 2024, and the combination of increased interest rates and higher prices remain a pain point for prospective car buyers. These factors continue to have a negative impact on buyers- from Q1 2022 to Q1 2024, the average monthly loan payment climbed from $1,345 to $1,583- almost double?the growth of the Consumer Price Index over the same time frame. This means owners are finding it more difficult to pay their loans on time. The number of borrowers who are 60+ days behind on payments increased year over year.?

The above factors also impact financial institutions, and in turn, impacts dealerships. In the month of June, the availability of auto credit decreased?again. Per the Dealertrack Credit Availability Index, availability is down nearly 0.5% year over year.

This month's big question: With a number of economic pressures at hand, how can your dealership work with buyers to create affordable payment plans?

July 2024: Protecting your buyers' cars and a Throwback Thursday!

Towards the end of June, our Business Development Specialist, Sheila Booze, observed a Cilajet training session with one of our dealer partners in Washington. Cilajet is one of the asset protection products we offer, and a great way to protect your customers' purchases and your dealership's profits.?

Last week, our Founding Member, Craig Almon, celebrated his 35th year in the automotive industry! Congrats, Craig!

Can you find Craig in the below picture? (Hint: he's in the second row.)

In the upcoming month, PRO will be at the 2024 IADA Convention from 8/4 to 8/7. If you're attending, come visit us at our booth! We're looking forward to seeing you in Coeur D'alene!

Elevate Your Dealership with Coachbuilder Programs!

Transform your dealership's landscape with our Coachbuilder Programs, designed to complement and elevate your existing training efforts. These programs strategically enhance profitability, customer satisfaction, and talent retention, seamlessly integrating with your current practices for cohesive growth. Coachbuilder doesn't just help you move inventory; it revolutionizes your entire dealership experience.

Our two-pillar approach is designed to supercharge both your leadership and your team performance.

Program Highlights:

Pillar 1: Strategic Leadership Enhancement

• One-on-One management coaching for targeted leadership growth.
• Focused strategy sessions to align with your dealership’s specific goals.

Pillar 2: Team Performance Transformation

• Customized and interactive workshops tailored to your team’s needs.
• Routine to results approach to solidify daily sales practices.

Discover how targeted, actionable learning can make a tangible difference in your business outcomes. Complete this quick form to express your interest, and we'll reach out to guide you through the next steps. Connect for Details

Additional Resources

The Benefits of Role Playing in Training

7 T's of a High Performing Team

Be in the know: Industry Intel

EV Sales Make Progress: Electric cars inch forward! ?Sales rise year-over-year despite a hiccup, but charging woes persist. ?Is the infrastructure catching up? ?Learn the latest on electric vehicle adoption in the US.

How AI Improves Online Car Shopping: Struggling to create a consistent, professional online showroom with limited resources? AI can be your secret weapon. Learn how AI image enhancement, video creation, and automated compliance can save you time and money, while giving your online inventory the edge it needs to shine.

Open-source Automotive Software Becoming More Common: Forget buggy updates and slow software cycles. The future of your car is collaborative. Discover how the auto industry is embracing open-source software to create a smoother, safer driving experience – faster.

A Honda dealer's strategy: Paying?employees to stay has kept turnover below 20% and boosted sales by 34% in 2023. The secret? Retention bonuses that create a cohesive, top-performing team. Keeping the dream team together sure makes the victory sweeter!

Bookmarked and Inspired: Our Top Picks and Recommendations

Seeking a leadership style that balances care with candor? In "Radical Candor," Kim Scott, a former executive at Google and Apple, presents a groundbreaking approach to leadership. This insightful guide offers a framework for building trust and high-performing teams by combining genuine care for your employees with the ability to challenge them directly.

Packed with practical advice and real-world examples, "Radical Candor" equips you to give and receive candid feedback that fosters innovation, unlocks potential, and propels your organization forward. ?Discover how to be a leader who gets results while maintaining a respectful and humane workplace.

Got a book you just couldn't set down? Tell us all about it here .

Ask Us Anything| The best competitive advantage comes from the quality of your connections.

Do you have questions related to the F&I department- products, sales strategies, your professional development, or dealership profitability? We're here to connect with you and support your success. Write to us.