This article was originally published February 7, 2018. Since that time, Senior Vice President of Sales Charles Dortch III delivered a presentation to the ADOMA Bay Area chapter on March 21, 2018 in Burlingame, Calif.
The Auto Dealers Office Management Association (ADOMA) provides auto industry professionals with “a forum for education and the exchange of ideas and information to improve the administration of the automotive industry.” Through the association’s chapters (Los Angeles, Inland Empire, Orange County, Bay Area and Sacramento), Educational Conference (July 19 – 22, 2018), and ADOMA Mini Conference (October 21, 2018), the organization works to grow the industry and support California auto dealers.
Professionals interested in improving customer satisfaction rates, increasing the likelihood of return customers, reducing risks and increasing sales can consider implementing one or more of the solutions listed below and or joining the ADOMA membership program.
CrossCheck’s expert representative Senior Vice President of Sales Charles Dortch III will present at the upcoming Sacramento chapter meeting on Feb. 20 (meetings are held the third Tuesday of each month). Dortch will highlight auto dealership concerns and proven solutions. The meeting will take place at Logan’s Roadhouse in Elk Grove, Calif.
Top Dealer Concerns
The automobile remains America’s preferred form of passenger travel, according to Statistica. In 2017, U.S. car sales decreased slightly from 7.9 million units in 2014 to 6.3 million units due to an increase in consumer demand for larger vehicles. U.S. light truck sales in 2017 reached nearly 11.1 million units. In an ever-changing market where competition is high, finding effective strategies that combat obstacles remains crucial.
Released in September 2017, the Q3 2017 Cox Automotive Dealer Sentiment Index by Cox Automotive measured “dealer perceptions of current retail auto sales and sales expectations” for October 2017 through December 2017. The report found that franchise dealers’ top five concerns consist of market conditions (38 percent), competition (36 percent), expenses (21 percent), consumer confidence (20 percent) and staff turnover (20 percent).
Independent, used-only dealers identified limited inventory (40 percent), market conditions (36 percent), credit availability to consumers (30 percent), competition (29 percent), and expenses (23 percent).
In a recent post, CrossCheck produced an infographic showcasing the survey’s findings.
The Q4 2017 Cox Automotive Dealer Sentiment Index revealed similar concerns. Of those surveyed, market conditions remained the number one concern for franchise dealers at 40 percent, followed by competition (32 percent), staff turnover (21 percent), expenses (20 percent), and consumer confidence (19 percent).
For independent, used-only dealers, concerns over limited inventory fell to 31 percent, with market conditions increasing to 45 percent. Credit availability for consumers (39 percent), competition (37 percent) and expenses (33%) persisted as top factors that independent dealers believe are “holding their businesses back”. Additional concerns shared among all dealers include consumer transparency in pricing, credit availability for businesses, interest rates and dealership systems and tools.
Solutions for Auto Dealers
With the National Automobile Dealers Association (NADA) predicting the sale of 16.7 million new cars and light trucks in 2018, auto dealers would be well served to find solutions to remain competitive and successful.
CrossCheck Solutions for Auto Dealers
As a leader in the payments industry with over 30 years of experience, CrossCheck provides a variety of payment solutions for auto dealerships. CrossCheck is an accredited member of the Better Business Bureau (BBB) with an A plus rating. Our reliable products increase sales, reduce risk and improve customer service and convenience.
Our standard Check Guarantee service approves checks at the point of sale within seconds via terminal, phone or internet before being deposited at the bank. Returned checks with an approved status can be submitted to CrossCheck for processing and reimbursement. By implementing Check Guarantee, auto dealers can:
- Approve checks from out-of-town, out-of-state, U.S. territories and Canada
- Increase revenue
- Confidently accept checks with reduced risk
- Receive free 24/7/365 customer service, technical support, account set-up and training
To learn more, download our free guide.