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"Nomadic" consumers are one example of a viable opportunity, but to attract these buyers you need to
understand the unique factors driving their purchase decisions. For example, nomadic buyers are
typically more price-sensitive, emphasizing the importance of structuring an offer that takes advantage
of OEM incentives and financing terms.
Economic uncertainty will push many would-be new vehicle shoppers to consider pre-owned options.
This comes at the same time as industry-wide new vehicle shortages and used vehicles flood the
market. This "perfect storm" is creating an opportunity for dealers to prioritize managing their pre-
owned and new vehicles from the same platform, enabling them to more efficiently match customers to
the vehicle they're predicted to be the most likely to purchase.
Look to F&I to Offer Customer Relief
While growing consumer interest appears to be sparked by manufacturer incentives like zero-percent
financing, many of those offers are expected to sunset soon (or already have), putting the pressure of
delivering attractive auto financing back on dealerships.
F&I will be a make-or-break for many customers. It's likely that many shoppers returning to market will
be highly price-sensitive, while others will have postponed purchases because of income disruptions.
Keep your F&I and sales teams connected, communicating and working from the same set of
customer insights to ensure an honorable financing offer is regularly part of the car sales process.
Measure What Matters
Oftentimes dealers get so focused on sales goals that they neglect to pay attention to dealership
performance metrics that offer insight into all aspects of the sales cycle.
By examining metrics like per-sale profit and marketing ROI, dealers can make strategic decisions on
where to focus their future efforts. Integrate data from your sales platform, DMS and CMS to account
for factors like cost accounting, labor cost, inventory and pricing and to ensure your reporting isn't
siloed by department, which is ineffective.
Ready to kickstart your dealership's sales efforts following the COVID-19 crisis? We're here to help.
Contact us
today for a free Market EyeQ demo.
NOMADIC HOUSEHOLDS, OR SHOPPERS WHO
HAVE NO BRAND OR DEALER LOYALTY, WILL BE
IN-MARKET FOR A CAR IN 2020
MILLION
9
IHS Markit
