Todd V.’s Post

Are you aware of the FCA's consumer duty reporting requirements? Research reported by Motor Trader revealed that many dealers are unclear about these requirements. Out of 889 respondents, a significant number were either unaware of the need to produce a board report or did not know they must submit their first report by 31 July. Additionally, 76% of respondents said they were uncomfortable with what the report should include. 🚗 Read the full story here: https://bit.ly/3Lv6dkO. At insight6, we specialise in developing advanced CX programmes tailored to the automotive industry. Our bespoke feedback tools, trained researchers, and CX solutions have made us the partner of choice for many of the UK's largest automotive dealerships. We work with hundreds of clients across the UK and are the only company with a network of CX Directors to support car dealerships locally. Contact us today to see how we can transform your dealership's customer experience. #CustomerExperience #Automotive #ConsumerDuty #CarDealerships #Compliance

The rising trend of dual pricing and surcharging mechanisms is proving instrumental in significantly lowering processing costs. Learn how dealerships are slashing processing costs: https://lnkd.in/ewJ_RkYU Michael DeLucia

J.D. Powers’ July Metrics Reveals Some Interesting Shifts   For the new vehicle price versus the customer facing price, J.D. Power’s report — which pulls data from the JDPA PIN Incentive Spending Report (ISR) — found that the vehicle price for July was just above $48,000, similar to the last few months. The transaction price, below $46,000, was slightly less than the prior month. Both, however, hovered close to the $46,000 mark.

Explore our latest blog post, "Building Trust and Transparency: Leveraging FTC Rules for Your Orlando Auto Dealership," where we explore how complying with the FTC rules can enhance your auto dealership's reputation, build customer trust, and ultimately contribute to your success. Ready to safeguard your dealership's reputation while enhancing customer trust? Click here to read our blog: https://bit.ly/3wATHfm

Want to know more about credit card surcharging in the automotive industry? Check out this awesome article featuring our amazing leader Amberly Allen!!!

Explore our latest blog post, "Building Trust and Transparency: Leveraging FTC Rules for Your Orlando Auto Dealership," where we explore how complying with the FTC rules can enhance your auto dealership's reputation, build customer trust, and ultimately contribute to your success. Ready to safeguard your dealership's reputation while enhancing customer trust? Click here to read our blog: https://bit.ly/3wATHfm

Explore our latest blog post, "Building Trust and Transparency: Leveraging FTC Rules for Your Orlando Auto Dealership," where we explore how complying with the FTC rules can enhance your auto dealership's reputation, build customer trust, and ultimately contribute to your success. Ready to safeguard your dealership's reputation while enhancing customer trust? Click here to read our blog: https://bit.ly/3wATHfm

Why does change often seem so slow in the automotive industry? Too often, dealerships associate a customer's credit score with their overall worth, a mindset that’s long overdue for a shift. Years ago, it wasn’t uncommon for F&I departments to use derogatory terms like "roach" to describe customers with challenged credit. But let's take a step back: a credit score doesn't tell the whole story. There are countless reasons why someone might be struggling financially, and it's not always due to poor decisions. These customers are reaching out because they need solutions—an affordable, reliable vehicle and the chance to rebuild their financial standing. As industry professionals, we need to be more than just transactional. We need to be problem solvers. Empathy and innovation are key. Think outside the box, approach each customer with care, and remember—if you focus on providing value and nurturing relationships, your dealership will build more loyalty and success than ever before. #AutoIndustryChange #CustomerFirst #EmpathyInSales #NonPrimeSolutions #CreditRebuilding #DealershipGrowth #ProblemSolvers #CustomerExperience #AutoSalesTips #LeadNurturing #ValueFirst #InnovationInAutomotive #SalesSuccess

A considerable challenge today is affordability. Negative equity is at record levels, average vehicle prices are up 30% since 2019, and EV residual values are well below ICE engine vehicles.

🚗 The results are in! With the help of The Harris Poll, we asked 2,000+ people about their opinions and experiences when purchasing a car. We aimed to uncover the truth about consumer trust in car dealers and the realities of the car buying or leasing process. 🔍 We noticed a notable gap between perception and reality: only 1 in 3 reported negative buying experiences such as deceptive selling or hidden fees, and 3 in 4 expressed distrust in dealership pricing honesty. 💡 This discrepancy highlights a critical area for improvement: Transparency. Despite the challenges, this is an opportunity for dealerships to stand out by demonstrating unwavering commitment to honesty and customer satisfaction in the leasing/purchasing process. 🛠️ So, what does this mean for your dealership? It's time to reinforce trust through transparency, ensuring a seamless buying experience that aligns with customer expectations. We can help by guiding dealerships' compliance and building a trustworthy reputation that attracts and retains customers. Head to our blog for the full survey results and recommendations: https://hubs.ly/Q02lZVB60 #CarBuying #DealershipTrust #ConsumerInsights #HarrisPoll