Insights From June 2024

In a dynamic auto market where new-vehicle prices remain robust, maintaining customer loyalty is more critical than ever. Recent insights from Kelley Blue Book underscore key trends that reinforce the value of implementing a dedicated loyalty program for your dealership.

Insights from June:

Declining Incentives: Despite ample inventory, incentives decreased to 6.4% of ATP ($3,102), reflecting automakers’ disciplined pricing strategies to manage profitability.

Affordability Challenges: While the market average is elevated, 40% of vehicles transacted below $40,000 in June, highlighting varying price points crucial for customer affordability.

Rise in EV Prices: Electric vehicle prices trended higher in June, reaching $56,371 on average, driven by market leader Tesla’s strategic pricing adjustments.

Why Implement a Loyalty Program?

Enhance Customer Retention: Amidst rising vehicle costs, a loyalty program fosters lasting relationships beyond the initial sale, encouraging repeat business and customer advocacy.

Differentiate Your Dealership: Stand out by offering personalized rewards and incentives that resonate with customer preferences, reinforcing your commitment to their satisfaction.

Maximize Lifetime Value: Engage customers through tailored experiences that increase repair orders & lifetime value, contributing significantly to your dealership’s profitability.

How Dealership For Life Can Help:

At Dealership For Life, we specialize in crafting custom loyalty programs tailored to elevate customer retention strategies. From customized rewards structures to seamless integration, we empower your dealership to thrive in a competitive market.

Act Now:

Ready to drive customer loyalty and boost profitability? Contact Dealership For Life today to discover how our proven strategies can transform your dealership’s future amidst evolving market dynamics.