From ‘Covid’ Cruise Control to Classic Sales Techniques

The automotive sales landscape has seen a dramatic shift from the easy sales days of the “Covid Years” to the current more challenging environment. During the pandemic, low inventory levels meant customers often had to take whatever was available, making sales relatively straightforward. Now, with inventory back to normal and interest rates still higher than in years past, salespeople must work harder to close deals. This shift emphasizes the need to get back to the basics of the sales process, focusing on training, customer service, and long-term career development for our sales teams.

Open Communication and Support

Open communication is crucial for creating a supportive work environment. By engaging in regular, meaningful conversations with our team members, we can understand their challenges and provide the necessary support to overcome them. This not only helps in their professional development but also builds a strong, cohesive team.

Car Sales Training and Reinforcement: Back to Basics

In the post-Covid sales environment, it’s crucial to regularly train our sales teams. This training should not focus on gimmicks or quick fixes but rather on reinforcing the fundamentals of the sales process and customer service. Ensuring our teams understand the products they are selling, know how to effectively follow up with leads, and have the tools to provide exceptional customer service is key to sustaining sales performance.

Monitoring Progress with Employee Scorecards

Using scorecards to monitor daily and/or monthly progress is an effective way to track performance and identify areas for improvement. However, it’s important to approach these discussions constructively. Instead of focusing on what the salesperson should have done, ask open-ended questions that encourage self-reflection and growth. This approach fosters a positive environment where employees feel supported in their efforts to improve. Very little is gained when we start a sentence with something like, "What you should have done is..." Instead, help lead them to the answer rather than forcing it on them.

Refining Customer Interactions with Role Play

Role play activities are an invaluable tool for refining and improving customer interactions, which directly enhances sales performance. They are also something that almost everyone hates. Why? Because they do what they are supposed to do - intentionally put us in uncomfortable situations. By simulating real-life sales scenarios, car salespeople can practice and perfect their communication skills, learn to handle objections, and build confidence in a controlled environment. These exercises allow team members to experiment with different approaches and receive immediate feedback, helping them to understand what works and what doesn’t. Role play also encourages empathy, enabling salespeople to see situations from the customer’s perspective, which can lead to more personalized and effective service. Ultimately, this continuous practice ensures that salespeople are well-prepared for actual customer interactions, leading to higher conversion rates and improved customer satisfaction.

One-on-One Meetings and Goal Setting

Regular one-on-one meetings with team members are essential for reviewing progress, determining what does or does not work, and providing time for setting realistic goals. These meetings help employees see the bigger picture of their career path, rather than focusing solely on their performance for that singular day or month. By setting long-term goals and providing continuous support, we can help our team members stay motivated and committed to their career growth with us. 

Certifications and Continuous Development

Each of the points I’ve talked about so far are the primary building blocks for you to create tailored employee certifications. Employee certification programs will keep our salespeople up to date on training and career development. We’ve done this forever with our automotive technicians, but why not our car salespeople, BDC agents, or elsewhere?  Tailored employee certifications can cover various aspects of the sales process, customer service techniques, and product knowledge, ensuring our team members are always learning and improving. This not only enhances their skills but demonstrates our commitment to their professional development. 

Career Path and Long-Term Vision for Car Salespeople

Now, how do I cultivate long-term value out of employee certifications? If our employees don’t understand where they are, where they’re going, and how to get to the next “level,”, what is keeping them from leaving us when an opportunity to jump ship comes along? Helping our automotive salespeople see a clear career path within our organization will significantly impact their motivation and drive retention. When team members understand how their daily efforts contribute to their long-term career goals, they are more likely to stay engaged and perform better. Creating structured career paths with defined milestones will help them visualize their future and stay focused on their growth. Structured career paths are also proven to improve our ability to recruit.

What Now?

As we navigate the post-Covid sales landscape, it’s more important than ever to focus on the fundamentals. By prioritizing training, setting clear goals, creating certification programs, and supporting our team’s long-term career development, we can ensure sustained success. If you’re interested in learning more about how to implement these strategies in your dealership, reach out to us directly. Let’s work together to build a stronger, more resilient sales team for the future.

Tips for Salespeople to Help F&I Managers

Let’s be honest with ourselves. Going into “the box” is what most customers despise most about buying a car. So what can we do to improve their experience and lower their anxiety? Communicate! I also want to make it clear that you should always run process changes past your manager. Regardless of how good an idea may appear to you, possibly disrupting your dealership’s established processes is the opposite of what I’m trying to help you with. Make sure your manager is on board with you trying something new.

F&I Manager Success Equals Salesperson Success

In the fast-paced world of car sales, the collaboration between salespeople and F&I (Finance and Insurance) managers is crucial for maximizing dealership success. F&I managers play a pivotal role in securing financing and offering essential products like extended warranties and GAP coverage to customers. However, over my last 10+ years in auto, one thing I’ve seen to be all too common is the awkward or clunky handoff from a salesperson to a finance manager. I’m going to provide some practical tips for salespeople to help their F&I managers thrive, helping ensure a smooth customer experience from start to finish.

Why Support Between Sales and F&I Matters

Supporting your F&I manager isn’t about easing their workload (although I’m sure they like that part); it’s about giving your customers the best experience possible. We can do this by creating a cohesive environment where everyone keeps in focus what is most important: the customer! When salespeople and F&I managers work together seamlessly, customers receive better service, which leads to higher customer satisfaction rates, more repeat customers, and increased dealership profitability.

Tips for Salespeople to Assist F&I Managers

1. Educate Yourself on F&I Products

• Role Play: First things first, you need to know what in the world happens in “the box” and there’s no better way to do it than role play. While you may have experienced it as a customer, understanding the “why” of what happens is crucial. You can learn some of this from video training but understanding exactly how the managers at YOUR store do it is the best option. 
• Product Knowledge: Familiarize yourself with the F&I products offered at your dealership and which ones your F&I Managers lean towards. They all have two or three products they are most comfortable with. This allows you to confidently address any preliminary questions customers might have and demonstrate the value of these products. You don’t want to get blindsided and know nothing about a product. 
• Compliance and Regulations: Understand the basic compliance and regulatory requirements related to F&I products to ensure you’re providing accurate information. This knowledge helps build credibility with customers and ensures you are not inadvertently misleading them. For example, knowing the specifics of your state’s GAP insurance regulations can help you provide clear and accurate information.

2. Clear and Consistent Communication

• Build Trust: Establishing a strong rapport with customers will help them feel more comfortable when you hand them off to the F&I manager. Spend time understanding their needs and preferences, and reassure them that the F&I manager is there to help them make the best decision for their situation. For example, you might say, “I’ve shared all your preferences with our F&I manager, and they’ll ensure you get the best financing options available.”
• Set Expectations Early: While discussing the deal with customers, provide a brief overview of what and who they can expect to meet in the F&I office. For example, let them know that they will discuss financing options and additional products, but more importantly, use what you learned about the customer when building rapport to build a connection between them and the F&I manager. Mention the hobbies, favorite sports teams, or interests of the F&I Manager… anything that will create commonality. This helps set the stage for a smoother transition and reduces any anxiety customers might have about the process. 
• Detail Sharing with F&I: Ensure that all relevant customer information is accurately and thoroughly documented and shared with the F&I manager. This includes the customer’s budget, financing preferences, and any specific concerns or requests they have mentioned. For instance, if a customer is particularly interested in GAP insurance, make sure the F&I manager is aware so they can tailor their presentation accordingly. Also, share with the F&I Manager some of the commonalities they have with the customer. Act like you are preparing them for a new friend, not a new customer.

3. Prepare Customers for F&I Discussions

• Introduce F&I Products Early: During the sales process, lightly touch on the benefits of F&I products like extended warranties and GAP coverage. Mentioning these products in a positive light can pique the customer’s interest and make them more receptive when the F&I manager discusses these options in detail. For example, you could say, “Many of our customers find great value in our extended warranty plans for added peace of mind.” Always ensure your manager is comfortable with you doing this before you make it part of your process.

4. Foster a Collaborative Environment

• Regular Meetings: Schedule regular meetings between sales and F&I teams to discuss common challenges, share insights, and align strategies. These meetings can help identify areas for improvement and ensure both teams are working towards the same goals. For example, discussing recent customer feedback can help both teams adjust their approach to better meet customer needs.
• Feedback Loop: Create a feedback loop where F&I managers can share insights on customer interactions with salespeople. This can help improve the overall sales process by highlighting what is working well and what could be improved. For example, if the F&I manager notices that customers often have similar questions, salespeople can address these earlier in the process.

5. Utilize Technology Effectively

• CRM Systems: Make full use of your dealership’s CRM to ensure all customer interactions are logged and accessible to the F&I team. This includes details about their preferences, previous interactions, and any notes on specific concerns or interests. For example, logging a customer’s driving habits or past accident history can help the F&I manager tailor their discussion around relevant financial products. But, this info only matters if the F&I Managers look at it. The most common reason people stop using their CRM is because they believe no one is using the info - including themselves. 
• Digital Presentations: If your dealership uses digital tools for F&I presentations, make sure you understand how they work so you can introduce them to customers if necessary. Being familiar with these tools allows you to seamlessly transition customers to the F&I process. For instance, you could explain how the digital tool will visually demonstrate product options, making it easier for customers to understand their choices. Who can sell to them better than their own psyche?

Put Your New Skills to Work

Supporting your F&I manager is an integral part of creating a seamless and effective buying experience for your customers. By implementing these easy tips, salespeople can enhance the overall customer journey, contribute to the dealership’s success, and build stronger, more collaborative relationships with their F&I colleagues. Together, you can ensure that customers leave satisfied, well-informed, and in a new car! All this ultimately drives dealership profitability and improves your reputation.

How Would You Improve the F&I Handoff?

Let’s keep this conversation going! Comment with your thoughts on how to enhance collaboration between sales and F&I teams or reach out to me directly to discuss it one-on-one. Learning from each other on how to improve customer experiences at dealerships doesn’t only help one store - it helps our entire industry!

3 Ways Car Salespeople Can Increase Sales Using AI for Free

Understanding AI and LLMs

Artificial Intelligence (AI) has revolutionized numerous industries, and the automotive sector is no exception. Put simply, AI refers to the simulation of human intelligence processes by machines. These processes include learning, reasoning, and self-correction. In the realm of AI, Large Language Models (LLMs) like ChatGPT have gained significant attention recently. LLMs are advanced AI systems that can understand, generate, and respond to human language with a high degree of accuracy. They are incredibly user-friendly, often requiring no more than a web browser to access and use, making them an invaluable tool for professionals across various fields.

With over two decades in marketing, much of that in the automotive retail space, I’ve seen firsthand how AI can transform the way sales teams operate. My passion for computer technology, especially AI, has led me to explore numerous applications that can benefit automotive dealership salespeople. 

Steps for Car Salespeople to Start Using AI

In this article, I’m going to give you 3 ways car salespeople can start using AI to improve their performance. Then, I’ll provide steps and/or sample LLM command prompts to help you generate each type of content. I can’t make it much easier. So let’s dig into some of the quickest ways to get started! I’ll be using ChatGPT for these examples but most LLMs will provide similar results. 

WARNING/DISCLAIMER: Use AI of any kind at your own risk. And one thing you can never forget is that AI never forgets. That means that you should NEVER provide private, personal, or confidential customer information into any public LLM. 

1. Creating Engaging Social Media Posts

AI tools like ChatGPT can help automotive salespeople create compelling social media content. Whether it’s a promotional post about a new car model, a recent trade-in, or customer testimonials, AI can generate engaging and relevant content quickly. This helps maintain a consistent online presence, attracting potential buyers and keeping current customers informed.

Sample Command Prompt:

“Generate three ideas for engaging social media posts promoting the new 2024 Chevy Tahoe, highlighting its sleek design, advanced features, and special financing options. Make one of the post ideas funny.”

Example Result:

Post Idea 1: Highlighting Sleek Design

Visual: High-quality image of the 2024 Chevy Tahoe in a scenic location, showcasing its exterior design.

Caption: “Ready to turn heads wherever you go? The 2024 Chevy Tahoe’s sleek design is a showstopper on any road. Stop by [Dealership Name] to see it in person and take it for a spin! 🚗✨ #ChevyTahoe #SleekDesign #NewArrivals”

Post Idea 2: Showcasing Advanced Features

Visual: Photo carousel or video highlighting the advanced features of the 2024 Chevy Tahoe, such as the infotainment system, rear-view camera, and spacious interior.

Caption: “Experience the future of driving with the 2024 Chevy Tahoe! From its cutting-edge infotainment system to the spacious and luxurious interior, this SUV is built for comfort and convenience. Visit us at [Dealership Name] and discover all the advanced features today. 🚘🔧 #AdvancedTech #ChevyTahoe #DriveInStyle”

Post Idea 3: Funny Post with Special Financing Options

Visual: Fun graphic or meme featuring the 2024 Chevy Tahoe and a playful caption.

Caption: “Why wait to own the SUV of your dreams? With special financing options on the 2024 Chevy Tahoe, you can drive it home today! Come see us at [Dealership Name] and let’s make it happen. (No, we won’t accept Monopoly money 😉) 🚙💰 #ChevyTahoe #SpecialFinancing #DriveYourDream”

2. Crafting Personalized Email Responses

Responding to customer inquiries promptly and effectively is crucial in the automotive sales process. AI can assist in drafting personalized email responses based on the specific needs and questions of the customer. This ensures that potential buyers receive accurate and helpful information quickly, improving their experience and increasing the likelihood of a sale.

Sample Command Prompt:

“Draft a personalized email response to Jane Doe that is no more than 50 words long. They are interested in the 2024 Chevy Tahoe and loved the running boards and interior. They have never bought from us and were referred by their best friend Amy. Offer to schedule a test drive.”

Example Result: 

Hi Jane,

Thank you for your interest in the 2024 Chevy Tahoe! I’m delighted to hear that you loved the running boards and the luxurious interior. It’s a fantastic vehicle, and I’m confident it will meet all your expectations.

Amy has been a valued customer of ours, and she speaks very highly of you. We truly appreciate her referral and are excited about the opportunity to assist you with your first purchase from us. Building relationships with new customers is always a pleasure, and we’re here to make the process as smooth and enjoyable as possible.

I would love to schedule a test drive for you so you can experience the Tahoe’s features firsthand. Test drives are a great way to get a feel for the vehicle and ensure it fits your needs perfectly. Please let me know a date and time that works best for you, and I’ll make all the necessary arrangements.

If you have any questions or need further information before the test drive, don’t hesitate to reach out. I’m here to help!

Looking forward to meeting you soon.

Best regards,

[Your Name]

[Your Dealership]

[Your Contact Information]

3. Creating Vehicle Walk-Around Video Shot Lists and Scripts

Video marketing is an effective way to showcase vehicles to potential buyers. AI can assist in creating detailed shot lists and scripts for vehicle walk-around videos, ensuring that all key features are highlighted in an engaging manner. This helps salespeople produce high-quality videos that can be shared on social media, websites, and other marketing channels.

Sample Command Prompt:

“Create a detailed shot list and script for a walk-around video of the 2024 Chevy Tahoe, highlighting its exterior design, interior features, and advanced technology. I want the video to be about one minute long. Introduce me at the beginning and ask people to comment with their favorite feature. ”

Example Result: 

Shot List

1. Opening Shot: Wide shot of the dealership with salesperson and the 2024 Chevy Tahoe prominently displayed.
2. Exterior Front View: Close-up of the front grille and headlights.
3. Side View: Panning shot of the vehicle’s side profile.
4. Running Boards: Close-up of the running boards.
5. Rear View: Wide shot of the rear design and tail lights.
6. Interior Front: Close-up of the driver’s seat and dashboard.
7. Interior Features: Shots of the infotainment system, steering wheel, and control panels.
8. Back Seats: View of the spacious back seats and legroom.
9. Technology Highlights: Quick demo of advanced tech features.
10. Ending Shot: Host waving and standing next to the Tahoe.

Script

Opening Shot

• Host: “Hi, I’m <name>, at <dealership>. Today, we’re giving you a quick tour of the incredible 2024 Chevy Tahoe.”

Exterior Front View

• Host: “Starting up front, the 2024 Tahoe features a bold grille and sleek LED headlights. It’s designed to make a statement.”

Side View

• Host: “From the side, you can see its strong lines and robust stance. This SUV truly stands out on the road.”

Running Boards

• Host: “Check out these stylish running boards, making it easy to get in and out of the vehicle.”

Rear View

• Host: “The rear design is just as impressive with sleek tail lights and plenty of cargo space for all your adventures.”

Interior Front

• Host: “Inside, the driver-focused cockpit features premium materials and a modern design that’s both stylish and functional.”

Interior Features

• Host: “The Tahoe is loaded with advanced features, including a state-of-the-art infotainment system and intuitive controls.”

Back Seats

• Host: “Passengers in the back will enjoy generous legroom and comfortable seating, perfect for long trips.”

Technology Highlights

• Host: “The latest tech includes a high-res rear-view camera and seamless smartphone integration, keeping you connected and safe.”

Ending Shot

• Host: “Thanks for joining our quick tour of the 2024 Chevy Tahoe. Comment below with your favorite feature! And if you don’t have one yet, well, the Tahoe might just persuade you otherwise! See you next time!”

Potential Pitfalls of AI/LLMs

While AI tools like ChatGPT offer numerous advantages, it’s important to be aware of potential pitfalls. One notable issue are “hallucinations,” where the AI generates content that is factually incorrect or nonsensical. This can lead to misinformation if not properly monitored. To mitigate this, always review AI-generated content carefully. I will provide a more detailed list of potential pitfalls in an upcoming article.

Conclusion

Incorporating AI tools like ChatGPT into the daily operations of automotive dealership salespeople can significantly enhance productivity and customer engagement. From crafting engaging social media posts and personalized email responses to improving CRM notes, creating engaging voicemails, and creating effective video marketing content, AI offers a range of free, accessible solutions. By leveraging these tools, salespeople can save time, improve customer interactions, and ultimately drive more sales.

My name is J.D. Mixon, the Director of Marketing and Customer Success with DrivingSales. With over 10 years in the automotive retail space and more than 20 years in marketing. I hope you enjoyed these tips. Comment with what else you would like AI to help you with and I'll make it my next project for you!

Celebrating National Receptionists Day: The Cornerstone of Automotive Retail

As we celebrate National Receptionists Day, it's crucial to reflect on the pivotal role receptionists play, particularly in the automotive retail sector. National Receptionists Day offers a prime opportunity to appreciate these essential team members, rather unsung heroes, who often manage our front desks and first impressions. Despite their value of receptionists and their critical role in shaping customer experiences, receptionists in the automotive industry are frequently underappreciated and paid rates that don't reflect their true value.

The Vital Role of Automotive Receptionists

The receptionist in any car dealership is more than just a gateway to the services offered; they are the linchpin in customer relations. Their ability to manage customer flow, address concerns with professionalism, and maintain efficiency is unparalleled. Yet, these responsibilities seem juxtaposed against the reality that many are only offered minimum wage and are often the least experienced team members. On this National Receptionists Day, we need to ask ourselves why there's such a stark contradiction in how we ignore the value of receptionists.

Why Invest in Your Reception Team?

Understanding the breadth of a receptionist's impact might illuminate why they deserve more than what is often afforded. They are not merely answering calls or greeting customers; they are the first real human interaction that clients have with your business. A positive beginning can set the stage for successful sales and lasting customer loyalty. Therefore, recognizing their contribution should go beyond verbal affirmations—it should be reflected in their remuneration and opportunities for professional growth.

The Economic Sense of Valuing Receptionists

From a purely business standpoint, investing in a capable, content, and well-compensated reception team makes sense. Skilled receptionists contribute to lower turnover rates, higher customer satisfaction or dealership CSI, and, likely, increased sales. On National Receptionists Day, and every day, they should be seen as a crucial investment in the dealership’s brand and operational success. These unsung heroes should be “unsung” no longer. 

Bridging the Gap on National Receptionists Day

This National Receptionists Day, let's start bridging the gap between the perceived and actual value of our automotive receptionists. Each interaction they manage, every problem they solve, and the cheerful way they represent our brand are foundational to our business's success. Their role should be celebrated with fair compensation and recognition that mirrors their significant contributions. I can’t begin to tell you the number of times I have seen a skilled receptionist completely turn a negative situation around. 

A Call to Action for Automotive Dealerships

To my peers in retail automotive management, this National Receptionists Day calls for a realignment of our practices concerning our reception staff. By enhancing their working conditions, we not only bolster morale but also enrich the customer's experience. Let’s commit to not only celebrating National Receptionists Day but also to enacting changes that uplift our front-line ambassadors.

Bridging the Gap: The Integral Roles of BDC Agents and Receptionists

Similarly to our receptionists, BDC agents serve as fundamental components of the automotive retail environment. However, they are another group of unsung heroes of automotive. They manage both inbound and outbound communications, nurturing customer relationships and driving sales opportunities. Furthermore, their role closely mirrors that of receptionists, with both positions critical in forming first impressions and maintaining customer engagement. However, despite their crucial contributions, BDC agents, like receptionists, often receive minimal recognition and compensation that does not reflect their value to the business.

Enhancing Recognition and Rewards for Frontline Staff

In addition, investing in the professional development of BDC agents is just as essential as it is for receptionists. These roles require robust product knowledge, advanced communication skills, and the ability to handle stress effectively. Therefore, enhancing their training and offering fair wages not only elevates their job satisfaction but also boosts their performance capabilities. Consequently, this improvement in performance directly affects customer satisfaction and loyalty. By valuing BDC agents equally with receptionists, we fortify our dealership’s operational effectiveness and foster a more united, motivated team.

Conclusion

As we honor National Receptionists Day, let’s champion the cause of our receptionists who ensure our businesses run like well-oiled machines. Their multifaceted role is integral to our operations and deserves recognition that extends beyond mere acknowledgment. By investing in and valuing our receptionists properly, we not only elevate their roles but also enhance our entire business model.

Remember, a chain is only as strong as its weakest link. In the context of automotive retail, the receptionist is far from being the weakest link; rather, they are the robust cornerstone that deserves our respect and investment.

DrivingSales: Your Partner in Career Pathing

At DrivingSales, we understand the pivotal importance of receptionists and BDC agents in shaping the customer experience and boosting dealership performance. To empower these essential team members, we offer a comprehensive suite of training resources specifically tailored to enhance their skills and professionalism. Our platform features an extensive selection of courses, with numerous modules devoted exclusively to the development of receptionists and BDC agents. By participating in our targeted training programs, your staff can gain the expertise needed to excel in their roles and drive your business forward. Join our vibrant community at DrivingSales to access these opportunities for continuous growth and development, ensuring your team is equipped to make a positive, lasting impression on every customer interaction.

In the fast-paced environment of automotive dealerships, the Business Development Center (BDC) has emerged as a crucial player in managing customer relationships and driving sales. BDC agents, often the unsung heroes of dealerships, meticulously track every interaction with customers, whether it be through phone calls, emails, chat, etc. This data is demanded to be diligently recorded on multiple platforms such as Customer Relationship Management (CRM) systems, Dealership Management Systems (DMS), scheduling tools, OEM tracking programs, countless shared spreadsheets, and other platforms, ensuring a seamless and personalized customer experience. 

I’ve been lucky enough to build BDCs from the ground up and also to come into established BDCs to help make improvements wherever possible. If there’s one thing that I see far too often is the glaring discrepancy in how different departments within the same dealership approach accountability and the use of communication tools like CRM systems. This disparity raises pivotal questions about efficiency, customer satisfaction, and ultimately, sales performance.

The Accountability Conundrum

Why is it that sales teams, equipped with the same tools and capabilities as BDC agents, often fall short of maintaining a reasonable level of record-keeping? Despite having access to CRM systems that can significantly enhance customer interactions and sales outcomes, the adherence to rigorous tracking is not uniformly enforced. This discrepancy is even more perplexing considering that sales department personnel typically command far higher salaries compared to their BDC counterparts, who are often on the lower end of the wage spectrum. Is it time to rethink how accountability standards are applied across departments?

The Potential of Unified Standards

Imagine the transformative impact on dealership sales if the same rigorous standards applied to BDC agents were adopted by sales teams. By holding salespeople to the same level of accountability, dealerships could unlock a wealth of data-driven insights, leading to more informed sales strategies, improved customer targeting, and ultimately, higher sales volumes. The question then arises: When will dealerships start holding salespeople to the same standard as BDC agents?

Enhancing Customer Satisfaction Through Detailed CRM Notes

The benefits of comprehensive record-keeping extend beyond sales figures. Detailed notes in the CRM is proven to significantly improve customer satisfaction. Wouldn’t it be great to never again have a customer feel they aren’t being heard? By having access to a customer's complete history, sales teams can provide personalized experiences, anticipate needs, and resolve issues more efficiently. This level of attention to detail fosters trust and loyalty, which are critical components of customer retention and word-of-mouth marketing.

As the automotive industry continues to evolve, the need for cohesive and accountable use of CRM and other systems across all dealership departments becomes increasingly apparent. It's time for a paradigm shift that recognizes the value of uniform accountability standards. By bridging the accountability gap between BDC agents and sales teams, dealerships can enhance customer satisfaction, streamline operations, and drive sales to new heights. The question remains: Are we ready to embrace this change?

To be clear, my thoughts on inconsistent accountability don’t apply to every single store out there, but I think most managers who have worked at multiple stores would agree it is far too common. I also want to give a big shoutout to folks like Norma R., Kevin H., and Eric F. for doing things the right way with their own teams and trying to lead up to influence those around them.

Please engage with me in the comments below: How do you think better CRM utilization could transform your dealership's performance and customer satisfaction?

In 2023, the used car market experienced a 5% decrease in prices, marking a significant change from the price surge that occurred during the pandemic. This shift was largely due to improvements in supply chain stability and an increase in new car production. Higher interest rates also played a role, as they led many potential buyers to delay their used car purchases, which in turn contributed to the drop in prices.

The price increase in used cars began in 2020 due to inventory shortages and reached its peak in March 2021. By the end of that year, used cars were 36% more expensive. However, data from Black Book indicates that wholesale prices have recently been on the decline, which has influenced retail prices to fall as well.

While prices have not yet returned to pre-pandemic levels, the current trend suggests that used cars will become more affordable in 2024. The decrease in prices in 2023 confirms earlier predictions that a market correction would occur after the unsustainable price bubble of 2021 and 2022.

An IseeCars study indicates that popular used models are now more affordable than they were in late 2022. This is good news for consumers, as it means that they have a wider range of options when it comes to purchasing a used car.

However, it's important to note that the used car market is still recovering from the effects of the pandemic, and prices are still higher than they were before the pandemic began. Despite this, the recent decrease in prices is a positive sign for consumers and suggests that the market is moving in the right direction

What are you experiencing in your market and where do you think we are headed this year? I would love to hear your thoughts.