The last year brought more than its fair share of challenges to the automotive industry. Disrupted supply chains, paused manufacturing and dealers holding on to inventory for longer periods of time are just a few examples of the curveballs 2020 has thrown at us. But consumers still need cars to get to work, the grocery store and to bring their kids to school, and in this climate, a personal vehicle seems more necessary and important than ever. In fact, 93% of people say they are now using a personal vehicle more than before the pandemic.
So while it’s been a tough year, the used car sector has persevered through it and found new ways to excel. That’s not to say there weren’t pivots made and lessons learned to help us grow. As we shift our focus to 2021, it’s important to evaluate your business practices and identify where you can improve.
To help you navigate through this transition, here are some keys that can help you revisit and recalibrate your strategy so that your success gets on and stays on an upward trajectory in 2021.
Read the full article on pages 18-21 in the January issue of Used Car Dealer magazine.