In July 2022, the average monthly payment for a
new vehicle reached $708 – an all-time high.
Meanwhile, average incentive spending per unit dropped
below $900 for the first time.
J.D. Power-LMC Automotive Forecast July 2022
Understanding the Value of Your Loyalty Audience
While some dealers may not consider investing time and resources into building customer retention
while demand is still so high, it's important to remember: Loyalty customers increase in value and
commitment over time.
Dealers need to ensure they're not jeopardizing a long-term customer relationship with a potentially
short-sighted approach. Focusing on dealership customer loyalty equates to a steady supply of
highly profitable sales now – and in the future when inventory levels stabilize.
