Here’s what you missed on the inside track this week.
Michigan Chevy Dealership Fails to Procure Titles
A Michigan Chevy dealership was recently in the hot seat and suspended from selling cars for 15 days. The Secretary of State announced the license suspension of Patsy Lou Chevrolet in Flint Township for failing to provide titles to buyers as required by law. The complaint also stated that the paperwork submitted post-sale contained false information. Title fraud and non-compliance is a hot button topic for dealerships, and failure to follow local and federal laws means lost revenue. Read about it here.
How Are Your Dealerships Email Open Rates?
Deciding where to invest your marketing dollars isn’t a decision you take lightly. You know you need to attract new customers and keep your existing clients coming back, but you can’t afford to invest time or resources into something that isn’t going to deliver the results you expect. Email marketing is a cost-effective solution that gives you the power to reach customers in a place most people visit every day — their inbox.
How can dealerships use this tool effectively to reach their customer base and attract sales? This Dealer News Today exclusive breaks it down for dealerships with tips and tricks to convert open rates into leads.
Sub-prime Loan Defaults Highest in 20 Years
Sobering statistics from Fitch Ratings dictate that consumer rates of default on subprime auto loans have reached the highest rate – 5.8 percent – since 1996. The numbers, which were aggregated from March (the most recent data available) are higher than those seen during the 2008 financial crisis. Dealer News Today has the details here.
AI, Machine Learning, Predictive Analytics = More Car Sales
Raising the bar on customer service is crucial for dealerships as prospective buyers resort to different channels to research more on a vehicle, ask questions, or raise complaints. As dealerships fight it out to stay ahead of the competition, they have to prioritize customer care, loyalty, and satisfaction, and for this, CRM has to complement human efforts and provide better and faster solutions. How? Through artificial intelligence. You do use AI in your dealership operations, probably every day. It’s time to start harnessing the technology to help you sell more cars. Here’s how.