In this episode of The Coaches Corner, Bobby Hobbs and Paul Brown discuss the current state of the auto industry, specifically the rise in auto loan amounts and the importance of maximizing technology in dealerships.
Key takeaways from the episode:

Data shows that 19% of new car loans in Q4 2023 were over $1,000 per month, with average terms increasing and interest rates decreasing.
Dealerships need to stay informed about trends to make the most of opportunities, especially given customer acclimation to higher payments.
Dealerships often underutilize their CRM systems and should focus on inputting actionable notes to identify areas for improvement and use data for targeted marketing.
Dealers should also evaluate the use of service aspects of their CRMs, used car tools, and DMSs to ensure they are maximizing their investments and eliminating redundancies.
The potential of AI to revolutionize dealership operations, including training and customer follow-up, is discussed, emphasizing the importance of embracing new technologies.

#cardealership #autoindustry #CRM #AI #technology #finance #sales #trends #podcast #coachescorner #thecoachscorner

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