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Dealers: Focus on experience, not price

F&I income represented 2.9 percent of new-vehicle sales and 3.8 percent of used-vehicle sales in 2018, compared with 2.9 percent and 3.7 percent in 2017, according to NADA’s annual financial profile of U.S. franchised new-vehicle dealerships. (DAVID PHILLIPS)
May 27, 2019 04:00 AM

How you compete in the retail automotive marketplace is a choice. Either you choose as your primary focus to compete on aggressive pricing or on creating a differentiated customer experience. It is my perspective as an industry veteran that the vast majority of dealers choosing price do so because they don't have a clear vision of how to compete by creating and consistently delivering a customer experience superior to the competition.

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