Summer's here! Let's make it a good one. ??

Trends we've noticed in June:

May was a BIG month for automakers and dealers.?At an estimated seasonally adjusted annualized rate (SAAR) of 16 million, May auto sales were the highest they've been since early 2023. The reason? A mix of higher new vehicle incentives and inventories.

According to experts at Edmunds, with auto prices expected to continue to rise, consumers are looking to capitalize on their vehicle's trade in value and their credit history to afford a new car. Because of this, 6 of 7 automakers saw a sales gain in May, including Toyota of America, whose executives believe that the larger selection is bringing consumers off the sidelines.

Consumers are growing more concerned about EVs.

A McKinsey global survey found that more than 4 in 10 owners of EVs in the US are likely to switch back to a combustion engine for their next vehicle purchase. The top reasons cited are an inadequate public charging infrastructure, high purchase & ownership costs and the impact on long-distance trips.

These three reasons are also impacting consumers in other markets. Globally, roughly 3 in 10 EV owners are likely to switch back to combustion engines and only 9% of global respondents feel their local public charging infrastructure is satisfactory.

This month's big question: How can your dealership leverage an increased inventory to bring customers in and boost your sales + productivity??

June 2024: June Jet-setting! Catch PRO if You Can! ??

June has been a busy travel month for our team as we visit our dealer partners!

Earlier this month, our Area Manager, Lou Stoecklin, flew to Guam to host a training and consulting session. While in Guam, Lou helped our dealer partners develop actionable strategies to drive their Sales and F&I numbers. Our Director of Sales, Mike Niles, also visited Guam in a separate trip to host a training session. When they weren't working, they enjoyed the sunshine. ????

Last week, our Founding Member, Craig Almon, visited San Antonio, Texas to attend the semi-annual Sales Leadership Summit for our parent company, Portfolio. PRO's association with Portfolio empowers us to offer exceptional resources and support to our dealer partners.

Welcome to PRO, Maxine! We're excited to have you on the team.

In May, Maxine Grigg-Peterson joined our team as our new Administrative Specialist. She will be working with our dealer partners on product orders along with other responsibilities around our office.

Outside of work, she enjoys spending time with her recently rescued puppy and listening to Taylor Swift. Click here to meet the PRO Team.

The Key to Unlocking Profits in a Buyer's Market!

Car lots are stocked, but profits are sinking? You're not alone. The buyer's market is here. But fear not, dealerships! Dealer consultants are your secret weapon. These experts go beyond experience, offering data-driven strategies to outshine the competition. Boost profitability, refine customer experiences, and thrive in the new market landscape. Find out more.

Additional Resources

Four Things Great Leaders Do

Fueling Customer Satisfaction Beyond Expectations

Be in the know: Industry Intel

Dark Patterns- Soon Starring a Dealer Near You: Government agencies like the FTC want transparency for consumers, but this means increased regulations for dealers. Learn about these "dark patterns", how they can impact your dealership and how to avoid them.

The Importance of Centralized Vendor Relationship Management: Do you work with multiple vendors at your dealership? Is it tough to manage them and stay aligned to your overall goals? You may consider hiring a centralized vendor relationship manager to ensure your vendor portfolio is strategically tailored to improve the efficiency and profitability of your stores.

Selling to Gen Z: Generation Z has billions in purchasing power. How can dealers secure a larger piece of this pie? According to a survey by Protective Asset Protection, dealers can do this by offering F&I products that offer convenience and flexibility.

Bookmarked and Inspired: Our Top Picks and Recommendations

In "The 10 Stories Great Leaders Tell," Paul Smith, a leading business storytelling expert, reveals the secret weapon of influential leaders: powerful narratives. Discover the ten essential stories that ignite teams, inspire customers, and build trust with stakeholders. Learn how to craft your own compelling narratives to motivate, guide, and achieve lasting success. Whether you're a manager, entrepreneur, or aspiring leader, this book equips you with the storytelling tools to take your influence to the next level. Recommend a book.

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.