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Preparing for Tariffs: Essential Tips for Automotive Dealers
Tariffs are here, and they are affecting the automotive industry. On Wednesday, March 26, a significant announcement was made: new tariffs, more extensive than anticipated and set at a 25% rate, will be implemented starting April 2. Last year, about 44% of new vehicles sold in the U.S. were imported from North America, Europe, and Asia. The automotive industry, which relies on a global supply chain, is already grappling with high costs. These new tariffs will further complicate the situation, leading to higher expenses. This increase in costs means fewer affordable options for consumers and could potentially result in lower
Get Ready for the Shift: Why Dealers Must Rethink Ad Budgets Ahead of the 25% Auto Tariff
Just turn on the news, and you will hear that the U.S. automotive industry is on the brink of significant change. With the imminent implementation of a 25% tariff on imported vehicles and parts, dealers must proactively adjust their strategies to navigate the evolving market landscape. Understanding the Tariff’s Impact Effective April 3, 2025, the U.S. government will impose a 25% tariff on all imported cars, light-duty trucks and auto parts. This policy aims to bolster domestic manufacturing but is projected to have immediate repercussions on vehicle pricing and sales dynamics Cox Automotive Industry analyses indicate that these tariffs could
The Car-Buying Game Has Changed. Here’s How to Win with AI and Better Automation.
Car-buyers are telling you what they want and how to win their business. They’re leaving a trail of data online with every move they make. And nearly seven out of ten of them are even willing to complete some or all their purchases online.1 But the game is constantly changing and, frankly, more complex than just offering an online storefront. More and more data can be a problem, not a solution. So, how do you win in this constant game of ‘keep up’? Cox Automotive is delivering big this year. When it comes to Artificial Intelligence (AI) and automation, bothCoxautoinc Retail
Advertising and Marketing Compliance for Dealerships
The regulatory landscape is undergoing some recent changes, but it’s still important for dealerships to comply with federal and state laws. A culture of compliance not only protects your business from fines and fees, but it also helps preserve your reputation with consumers. The transparency and care that go into regulatory compliance reflect healthy business practices that safeguard both your dealership and your customers. Cox Automotive brand Dealertrack has been producing a compliance guide for dealers for the last two decades with this in mind. It’s available as a free download and we are making it available through Dealer.com because
TOP 4 TAKEAWAYS FROM THE 2024 CAR BUYER JOURNEY STUDY
Last year, car buyers encountered high prices, high rates, and low inventory. In 2024, there was more inventory and increased cross-brand shopping. The future remains uncertain, particularly in a post-election context. Based on the research from the 2024 Cox Automotive Car Buyer Journey Study, now in its 15th year, we offer insights and recommendations for you and your dealership to stay competitive, maintain consistency for your consumers, and remain successful. CLICK HERE to read our top 4 takeaways from the study and actions you can take to enhance your digital marketing strategy in 2025.
Myth Buster: Addressing Blind Spots in Your CRM
Guest Expert: Elizabeth Stegall, Senior Director of Retention for Autotrader and Kelley Blue Book is featured as our first guest in the Myth Busters series, where she shares her thoughts on gaps in your CRM, debunks myths around them and shares actionable new ways to leverage data to make better marketing decisions with the accurate and complete information to improve dealership performance.
Pointers To Determine the “Right Money” With Every Appraisal
Micah Tindor, Sr. Director of Strategic Planning, Kelley Blue Book® Instant Cash Offer, teamed up with Patrick Janes, Associate Vice President, vAuto, on this latest podcast to dive deep into the appraisal process. They uncovered common variances and customer disconnects that can lead to missed opportunities in vehicle acquisition or mispricing. Their discussion is packed with valuable insights to help you pinpoint the steps in the appraisal process where the “right” money often goes astray and gain a clearer understanding of the specific expectations customers bring to each appraisal. Check out the podcast and see how you can build customer trustKelley Blue Book
Unlocking Consumer Insights: Key Findings from the 15th Annual Car Buyer Journey Study
In this exclusive webinar Vanessa Ton, Senior Manager of Research and Market Intelligence at Cox Automotive, reveals the key findings from the 15th Annual Car Buyer Journey Study. Discover the latest trends in consumer behaviors and learn how to leverage these insights to boost satisfaction and drive growth. Watch now to gain actionable steps to help you implement effective strategies and stay ahead in the car-buying journey!Kelley Blue Book
What Can a DMS Do for Your Dealership?
Streamlined operations and enhanced efficiencies will put your dealership ahead of the competition. One of the most effective ways to achieve this is by implementing a power packed Dealer Management System (DMS) built to enable flexible operational effectiveness. But what exactly does a DMS do for your dealership? Let’s highlight five ways your DMS can make your dealership run more efficiently. What is a Dealer Management System? A Dealer Management System is a centralized and comprehensive software suite that helps dealerships manage various aspects of their day-to-day operations — including sales, service, parts inventory management, finance and insurance (F&I), and
Boosting Dealer Success: It’s Time to Do More with Real-Time Data Insights
Guest Expert: Jeff Flak, Director of Sales Effectiveness at Autotrader and Kelley Blue Book, shares insights and the advantages you can gain when leverage real-time data analytics to drive smarter business decisions such as enhanced customer satisfaction, boosted profitability. You'll hear the new ways working to effectively manage dealership operations using nVision and other dashboards that help you make smarter spend decisions.