automotiveMastermind

  • Predictive Analytics in the Auto Industry

    Predictive Analytics in the Auto Industry

    Technology is rapidly transforming the automotive industry, and predictive analytics (while now a common industry buzzword) are a core differentiator for dealers who use it well.

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  • 3 Ways to Maximize Your Dealership Marketing ROI

    3 Ways to Maximize Your Dealership Marketing ROI

    While some dealers benefited from record-breaking sales and profit margins in 2020 and into 2021, maximizing the efficiency and efficacy of your dealership’s marketing is as important today as ever.

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  • 3 Emerging Dealership Challenges & How Dealers are Overcoming Them

    3 Emerging Dealership Challenges & How Dealers are Overcoming Them

    Aside from inventory shortages impacting a vast majority of brands, dealerships from coast to coast are strategizing on to overcome new and ongoing challenges alike.

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  • Q2 2021 State of Automotive Sales & Inventory

    Q2 2021 State of Automotive Sales & Inventory

    Following challenges from COVID-19 and growing inventory concerns spurred by the microchip shortage in early 2021, dealers’ performance in Q2 varied greatly from brand to brand, and store to store.

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  • 4 Ways to Improve the Dealership Customer Experience Amid Inventory Shortages

    4 Ways to Improve the Dealership Customer Experience Amid Inventory Shortages

    Today’s buyers are more informed than ever and most are well aware of the ongoing inventory challenges dealerships are facing – as well as how the vehicle shortages are impacting car sales prices.

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  • 3 Dealership Tips for New Inventory Presales

    3 Dealership Tips for New Inventory Presales

    In the dealership world, the one topic on everyone’s mind is inventory shortages. From coast to coast, nearly every brand is experiencing new vehicle inventory shortages, challenging dealers to adapt.

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  • 4 Steps for Dealers to Address Inventory Shortages with Consumers

    4 Steps for Dealers to Address Inventory Shortages with Consumers

    According to a recent industry survey, 76% of in-market vehicle buyers are aware of the ongoing chip shortage, 83% of which are aware of its impact on the new vehicle market.

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  • 3 Proactive Sales & Pre-Owned Acquisition Opportunities

    3 Proactive Sales & Pre-Owned Acquisition Opportunities

    Looking specifically at pre-owned, the average retail selling price of pre-owned vehicles by new car dealerships has increased by 11% compared to 2020.

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  • How to Acquire Pre-Owned Vehicles Through the Service Drive

    How to Acquire Pre-Owned Vehicles Through the Service Drive

    Forecasts from IHS Markit estimate 1.3 million fewer light vehicles were produced in the first quarter of 2021 due to chip shortages and other external influences.

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  • 3 Ways for Dealers to Acquire & Maximize Their Pre-Owned Inventory

    3 Ways for Dealers to Acquire & Maximize Their Pre-Owned Inventory

    For auto dealers, the ongoing chip shortages have resulted in historically low new vehicle inventories, as well as contributed to sky-high auction prices for pre-owned models.

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  • 3 Emerging Opportunities for Auto Dealers Amid Chip Shortages

    3 Emerging Opportunities for Auto Dealers Amid Chip Shortages

    Amid countless external factors driving ongoing chip shortages, dealers are forced to adapt to evolving inventory challenges to secure both their immediate and future success.

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  • How Data Mining Tools Help Dealers Acquire Pre-Owned Inventory

    How Data Mining Tools Help Dealers Acquire Pre-Owned Inventory

    According to IHS Markit, an estimated 1.3 million fewer light vehicles were produced in the first quarter of 2021 because of semiconductor shortages, historically low new vehicle inventories.

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  • 3 Reasons Why Dealers Need to Focus on Loyalty in 2021 More Than Ever

    3 Reasons Why Dealers Need to Focus on Loyalty in 2021 More Than Ever

    According to an IHS Markit report, “During the past several years loyalty has emerged as one of the most watched metrics in the US new vehicle industry, along with market share and profitability."

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  • How To Use Predictive Analytics to Maximize Your Dealership Portfolio

    How To Use Predictive Analytics to Maximize Your Dealership Portfolio

    With countless evolving factors impacting OEM production and deliveries, now is the time for dealers to focus on the elements they can control.

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  • 3 Auto Sales Best Practices: The Dealer Download

    3 Auto Sales Best Practices: The Dealer Download

    Mastermind Chief Commercial Officer launched the video podcast series “The Dealer Download” in 2020 with the goal of helping dealers navigate the pandemic and beyond.

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  • 3 Important Trends Shaping Future Customer Car Buying Behaviors in 2021

    3 Important Trends Shaping Future Customer Car Buying Behaviors in 2021

    As disruptions ranging from rapid digitalization to widespread inventory shortages shake the auto industry, success for dealers continues to be defined by how well teams can adapt and embrace change.

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  • How to Reimagine the Dealership BDC

    How to Reimagine the Dealership BDC

    Dealership business development centers, also known as BDCs, have long been the topic of debate at many auto dealerships. But, never has the topic been more relevant than now.

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  • Busting Three Common Myths About EVs and Auto Dealerships

    Busting Three Common Myths About EVs and Auto Dealerships

    With the automotive industry rapidly recovering while simultaneously evolving to changing consumer buying habits, a once-niche segment has become more top-of-mind for OEMs: EVs.

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  • 4 Tips to Take Your Dealership Reporting to the Next Level

    4 Tips to Take Your Dealership Reporting to the Next Level

    Dealerships of all sizes are undoubtedly familiar with metrics and dashboards. Whether it’s your CRM, DMS or sales platform, a good part of your day is already spent on reviewing performance reports.

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  • 3 Ways to Use Data to Tackle Current Dealership Challenges

    3 Ways to Use Data to Tackle Current Dealership Challenges

    What are your dealership’s greatest challenges in 2021? Are they the same today as they were five years ago? Chances are, they’ve likely evolved over time.

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