Your guide to finishing summer strong! ????

August market insights from PRO:

Don't call it a comeback! While leasing fell sharply during the Covid era, it is seeing a surge in popularity in 2024. A report from Transunion shows that in the 12 months ended in the first quarter, leasing volume rose from 539,000 to 714,000 units, which is very close to the 781,000 leased in the first quarter of 2020!?

What is driving this leasing increase? It's partly due to an increase in EV leases. EVs made up roughly 17% of leases in Q2 2024, up from 11% two years earlier. Nearly half?of Q2 EV originations were leases, over twice the level in 2021. The market is also seeing a decrease in financed EV transactions, nearly down to a third of 2021 levels.

This change in consumer behavior doesn't just help lessees, who see this as a more viable option than financing. In the long term, this increases the supply of used vehicles for dealers, which will help them meet the growing demand for used cars.

This month's big question: Is your dealership seeing an increase in leases in 2024? How can you leverage this change in consumer behavior to boost your dealership's profitability?

August 2024: PRO does Idaho! ??

Last week, members of the PRO team attended the annual IADA convention in Coeur D'Alene. Anne Revermann (Area Manager) and Ally Hardy (Business Development Specialist) held down our booth at the event. Our Founding Members, Craig Almon and Doug Dingman, were also in attendance.

It was a week full of meaningful discussions and making connections, but don't worry! Our team found time to come together to enjoy the warm weather and beautiful scenery! ??

If you connected with us at IADA, thank you for your time! We'd love to continue the conversations and discuss how PRO can boost your dealership's profitability! ??

Connect with us.

Tips to improve your profitability during economic uncertainty ????

Discover how soaring interest rates and economic pressures are impacting the automotive market and consumer behavior. Learn about the growing popularity of leasing as a solution for both customers and dealerships. This blog post explores strategies to navigate these challenges, boost profitability, and thrive in today's competitive landscape.

Don't let economic pressures hold you back. Let's talk about how we can help your dealership thrive. Learn more.

Additional Resources

4 Elements of F&I (Profitability Equation)

Elements of Success for Professional Growth

Be in the know: Industry Intel

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Louisiana Audi Worker Foils Test-Drive Theft : A quick-thinking employee at Audi New Orleans prevented a potential carjacking during a test drive. The suspect allegedly threatened the employee with a gun and attempted to steal the vehicle. The employee bravely fought back, leading to the suspect's arrest.

Navigating the Upside Down : Discover how the automotive industry is navigating a perfect storm of negative equity and extended vehicle ownership. Learn how dealerships are turning challenges into opportunities through innovative service-drive strategies and vehicle-protection plans.

How to Optimize Liquidity in a Fluid Environment : Discover how to optimize your financial health with effective liquidity management. This article explores the critical role of banking partnerships, fraud prevention, and financial strategies in ensuring your dealership's long-term success.

Bookmarked and Inspired: Our Top Picks and Recommendations

Hidden Potential unveils the surprising truth that greatness isn't reserved for a select few. Adam Grant, a leading expert on human behavior, debunks the myth of innate talent and reveals the science-backed strategies for unlocking hidden potential. Discover how to cultivate a growth mindset, build resilience, and create environments where everyone can thrive. Whether you're an individual seeking personal growth or a leader aiming to transform teams, this book provides the roadmap to achieving extraordinary results.

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.