When customers already know which vehicle they want, dealers may be tempted to lead with price. Not so fast, says Product Prep’s Gerry Gould, who shares a five-step process to build trust in the dealership before you build the deal.
Edmunds analysts say the average cost to buy a 3-year-old unit now stands at $32,461 as shoppers face a “fundamentally repriced” market. +
The latest quarterly VIN-based inventory report from Lotlinx finds rebounding sales driven by new launches but offset by persistently aged inventory. +
All customers want a good deal, but they want the right vehicle even more. Top trainer Gerry Gould of Product Prep teaches a process that respects and reflects the modern car buyer’s path to purchase.
Kelley Blue Book reports an average transaction price of $49,220 in May, down 0.5% from April but up 1.2% year over year amid heavier incentive spending. +
A New York City agency announced that Honda of the Bronx has agreed to settle a lawsuit alleging more than 350 violations of consumer protection laws. +
The Cox Automotive/Moody’s Analytics Vehicle Affordability Index increased from 35.1 in March to 35.2 in April after five months of incremental improvement. +
S&P Global Mobility will offer its FeeSync platform to all U.S. dealers for no charge, providing a single, secure interface for fee structure changes. +
TrueCar will implement a new vehicle pricing standard as part of an effort to help dealers remain in compliance with federal regulations against deceptive tactics. +
Kelley Blue Book reports trucks and SUVs are largely to blame for April’s average new-vehicle transaction price of $49,461, a 1.8% year-over-year increase. +
