Low profit margins, high turnover and fewer visitors are some of the hallmarks of running a dealership today. Buyers, who have become accustomed to transparent buying processes online, are expecting to do more of their researching, shopping, financing and paperwork online, and younger customers are increasingly happy to complete the entire process through a Web-based store. In fact, research by eBay Advertising found that 63 percent of vehicle shoppers are thinking about shopping online. Does this mean dealerships are doomed?
No, but it does mean that OEMs and dealerships need to make some changes.
Read the full article at Cantin Automotive Insider.