Automotive News - October 10, 2016 - Supplement - S10

As the automotive industry closes out 2016, it's only natural to wonder, What's on the horizon for the next year? The way cars are bought and sold will continue to evolve and dealers are ﬁguring out how to navigate the ever-changing retail landscape. A few trends are no mystery and here is what we know. Lower fuel prices will keep driving light trucks and SUV sales. Expiring leases will ﬂood the market and give used cars a sales boost while putting pressure on new-vehicle prices. OEMs will spark a renewed interest in new-car purchases by ramping up incentives. In terms of ﬁnancing, the industry has been and will continue stretching the terms of consumer loans to make payments more 10 / JM&A GROUP / OCT '16 JM&A Group understands it's our responsibility to develop the necessary processes and solutions to help dealers address the changing retail industry. We work with our dealer partners to create a solid foundation and build a framework that gets them ready for the future. To maintain margins in an industry that is leveling off, it will be important to look at all facets of dealer operations, not just front-end revenue. F&I sales is an increasing opportunity, thus dealers have been focusing on their F&I departments. Ultimately, a store's success will come down to customer satisfaction and loyalty. Technology has dramatically changed the dealership's role and its relationship with consumers. And to entice tech-savvy customers -many of whom are Millennials-dealers will have to up their "digital game." Enhancing the online car-buying experience not only ensures F&I is part of the transaction, but it puts the consumers in control of the information they want and where they want to be in the purchase process. Earning buyers' trust and making digital connections will get them into the store. But this is merely scratching the surface. Remember when cruise control was the "new autopilot"? Advancements in technology are happening faster and faster every day. Connected cars and vehicle safety features have become today's norm. Automakers are either piloting autonomous vehicles or are already in the next phase of production, and legislature is moving quickly to establish laws in preparation of self-driving cars on the road. JM&A Group understands it's our responsibility to develop the necessary processes and solutions to help dealers address the changing retail industry. We work with our dealer partners to create a solid foundation and build a framework that gets them ready for the future. We are conﬁdent our value proposition provides dealers with the best practices to support their needs, improve performance, and increase proﬁtability. So start planning ahead now and let us know how we can help you get there. * !&3#'9;3$0c£-=-'8'3!£ preparing for tomorrow affordable. Loans that once topped out at 60 months are now extended to 72 months, or even 84. Of course, this will keep car buyers out of the market longer, so dealers will have to be more creative in how they respond to the changing marketplace and meet consumer demands.

Table of Contents for the Digital Edition of Automotive News - October 10, 2016 - Supplement