Insights From September 2024

Focus on Retention Amid Market Shifts

September 2024 saw U.S. auto sales decline by 11% year-over-year. Despite high interest rates impacting affordability, the seasonally adjusted annual rate (SAAR) rose to 15.9 million. Electric vehicle (EV) sales continued to rise but remained below expectations, with affordability and inventory challenges limiting broader growth.

Given these conditions, customer retention has never been more important for dealerships. A well-implemented loyalty program, like those offered by Dealership for Life, can keep customers engaged and returning for services, ensuring steady revenue during unpredictable market shifts.

Key Takeaways:

• Sales Decline: 11% drop in year-over-year sales.
• SAAR: Increased to 15.9 million.
• EV Growth: Continues but falls short of predictions.
• Retention Importance: Loyalty programs are critical for sustaining long-term dealership profitability.

By offering incentives like pre-paid maintenance and rewards, dealerships can build lasting relationships, keeping customers coming back even during challenging market conditions.

Act Now:

Contact Dealership For Life today to schedule a demo of how our programs and services can take your dealership to the next level and overcome the ever-changing industry.