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Recent CDK Survey Shows Only Few Automotive Dealers Have Implemented AI Solutions Despite Showing a Significant Interest
According to a recent survey by CDK, despite a significant interest from most automotive dealers, few have implemented AI solutions. The most commonly used solutions, Parts Inventory Predictors and Consumer Credit Predictors, were used by…
77% of Dealership F&I Teams Believe In-Person Interaction with Sales Reps is Key to Increasing Business with Lenders
While AI has penetrated various aspects of the automotive industry, many dealers have yet to embrace it in the sales process. According to the J.D. Power 2023 U.S. Dealer Financing Satisfaction Study, 77% of dealership…
Illinois Passes Bill Explicitly Permitting Dealers to Deliver Vehicles to a Customer’s Home and Conduct Sales Activities Online
Illinois Gov. J.B. Pritzker recently signed Senate Bill 1896, which clarifies language regarding automotive retailing in the state. Licensed dealers are now explicitly permitted to “conduct sales activities, including the collection of electronic signatures, via…
Equipment Finance Industry Confidence has Rebounded in Recent Months
The Equipment Leasing and Finance Foundation’s Monthly Confidence Index for the Equipment Finance Industry reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives in…
The Average Age of Light Vehicles in the US has Reached a Record High 12.5 Years
The average age of cars and light trucks in the US continued to increase in 2023 to 12.5 years, up over 3 months from 2022. This marks the sixth consecutive year that the average vehicle…
