2018 GNYADA Membership Directory

Fixed Ops Cox Automotive calculations indicate there is a $99 billion opportunity with fixed ops, and dealers are currently capturing only 30% of that market. Consumers say convenience, value, and trust affect where they choose to get their vehicle serviced. Dealerships can compete by implementing conveniences like online scheduling and by offering and promoting competitive pricing and price-match guarantees while focusing on advertising messages about high quality service (e.g., OEM parts and certified technicians). Consumer Credit The market would not have seen the growth of 2015 and 2016 without credit and its availability.We are currently at a very low default rate and we will likely see this healthy default-rate level continue. The trend of longer loan terms has been growing and there is a likelihood to continue to see longer terms on loans (e.g., longer than 60 months). Dealership Staffing As dealers face increasing margin compression and operating costs, profitability is being tied up in comprehensive operational inefficiencies. Employee recruitment, retention, and development (staffing), are the biggest sources of operational opportunities that dealers have today, but two out of three dealers have no staffing strategy in place. The Economy Fundamentally, how the economy is performing directly correlates to sales, and next year’s growth is likely to be similar to this year’s if not slightly better!

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Information provided Courtesy of Dealertrack Technologies 888.705.7926; www.dealertrack.com