We have different piggy banks in the automotive industry. Dealers need to deposit local, profitable sales and service transactions into their piggy banks to measure growth and success. I wrote this article in hopes of gaining feedback and insight on a subject where I believe our industry could improve.
Dealers have been increasing digital marketing investments for years but more recently the online marketing machine is running out of gas. Dealers are spending more on marketing and selling fewer vehicles. Net profit margins are down as healthcare, insurance and financing costs increase.