As fraudsters become more sophisticated and opportunistic, dealers and lenders need to pivot away from standard risk mitigation strategies and implement a multilayered approach.
Gen Z may face challenges when trying to purchase a car, like credit invisibility, meaning they lack a mainstream credit history that lenders use to assess whether to extend a loan.
Data can help us understand how and when certain economic indicators might trigger movement in the industry. It'll help us plan and prepare well in advance, and importantly, allow us to find opportunity for quicker recoveries once the downturns hit.
Automotive retailers can learn from other digital retailers as the digital car-buying trend grows.