In the wake of COVID-19, dealers and F&I managers are wondering what continued impact this pandemic will have on the industry. Black Book’s SVP of data science and VP of automotive valuations, shared their analyses and predictions, of what you and other automotive executives may face as we move forward.
What will selling and servicing cars in the New Normal be like post COVID-19? If you are a professional, know your product, care about your clients, communicate with customers on their terms, and focus on an ownership experience that fits their life, you will succeed.
As COVID-19 has lead to more vehicles being financed and purchased online, the ability of the F&I department to sift out synthetic fraud will be increasingly valuable to them. F&I managers are encouraged to take another look at available technologies to identify synthetic fraud when practiced against their dealership.
New car buyers still walk into a dealership to purchase the actual vehicle, but most would prefer to spend less time on-site, giving the dealer and sales team less time to build a trusted relationship with customers.
The future is upon us and dealerships need to take action and embrace the knowledge transformation. This article will discuss different trends in the learning space and how they are going to affect the way personnel working in dealerships learn.