WardsAuto Dealer 5
 
WardsAuto Dealer 5
 

APRIL 24, 2023

Welcome to the Monday, April 24, 2023, edition of WardsAuto Dealer 5. As always, there's plenty of news about the auto sector. We've gathered some of the most notable stories from WardsAuto and beyond to ensure you are in the know.

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1.

Fixed Ops Boosts F&I Profits as Car Profits Dip

AutoNation’s average gross profit per new vehicle is down 15% vs. the same quarter a year ago.

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2.

Why Auto Dealers Should Embrace Online Auctions

The benefits of online auctions include increased efficiency, reduced costs and broader reach.

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3.

Vehicle Prices Drop

“Dealers simply don’t have the pricing power they did six months ago,” says Kelley Blue Book’s Rebecca Rydzewski.

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Competition for Sales Is Back — But Is Your Sales Staff Ready to Sell Again?
Using in-market leads can save time, save money and retain more salespeople – and having access to daily-defection data is where it all begins.

4.

Pandemic-Fueled Car Price Hikes Reportedly Contributed to Inflation

Dealerships were able to markup their prices to a peak of 144.7% between December 2019 and December 2022, according to research.

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Gizmodo

5.

Dealer Inventory Is Almost Back to Pre-Pandemic Levels

Car prices may continue to fall.

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That’s our WardsAuto Dealer 5 for today. We’ll be back soon with more high fives.

As always, please feel free to pass this along to your colleagues and others who are interested in automotive insights. 

If you have questions, concerns or story ideas, please contact editor Nancy Dunham at NDunham@WardsAuto.com
Thanks for reading. We'll be back soon with more of the latest news.