Car dealers among M&A expected to reach record levels in the second half of the year
Tuesday, August 25, 2020
Mergers & Acquisitions is expecting to reach a large increase in profits for the second half of the year. There was a negative in March and April, but there is a strong comeback in May, June, and July. The ability to reduce expenses while increasing the gross margin despite a decline in new vehicle sales shows the adaptability of the auto industry.
The digital retailing efforts and ability to create touchless sales processes along with the large increase of used vehicle sales have helped in these efforts.
Check out the article here.
Action items for dealers:
- Increase used vehicle inventory
- Implement digital retailing to ensure the safety of employees and shoppers