New Car Inventory is DOWN 72% since 2019.
Let that sink in.
And people wonder why Used Car prices increased 42% in 2021… The only thing that can immediately stop this madness
Is a monster recession
And I don’t wish that upon any of us.
Evolution of Car Dealer Marketing: (sorted by effectiveness)
2010: Newspapers, 3PL sites
2015: Facebook, Google, 3PL sites
2020: Instagram, Facebook, Google, 3PL sites
But of course, word-of-mouth has always been #1.
How customers prefer to acquire their next vehicle:
71% In-person 17% Fully virtual 12% Partially virtual
(Source: Deloitte 2020 Consumer Auto Survey)
Vehicle margin: 6-8% Ancillary Product margin: 40-60%
Top 3 Factors With Biggest Impact on Consumer Car Buying Decisions:
68% Pricing 54% Product Availability 36% Product Assortment
(Source: Some wall-street analyst report circulating within the dealer network)