Fixed Ops Magazine - 2023 Vol 20 02 - 32

FEATURE BY KRISTY HUNDT
WHAT TO
KNOW ...
AND DO
IN 2023
Meet and Exceed Customer Expectations
as you watch your Service Operations Grow
T
hese past few years have been difficult for the
automotive retail industry, including the semiconductor
chip shortage, the COVID-19 pandemic,
the drive toward electric vehicle manufacturing,
and the continued shift to digitalization.
Dealers had to - and continue to - make sometimes
painful changes or potentially suffer the fate of other
industries. We pulled together some of the most important
trends and predictions so you can stay in-theknow
and plan accordingly.
FOUR AUTO RETAIL
INDUSTRY PREDICTIONS
1. Used Car Sales Increase & Prices Lower
Disruptions in the supply chain, such as increased raw
material costs and chip shortages, have caused problems
in recent years. This caused a lack of new vehicle
inventory and price increases for new cars. According
to CNBC.com, the average price of a new car in the
U.S. was up 6.3% in 2021. This price increase fueled
32
demand for used vehicles, increasing their prices by
about 43%.
As new car production improves, however, demand
for used vehicles will ease up and prices will continue
to decrease in 2023. J.P. Morgan estimates that
used vehicle prices will decrease by about 10% to
20% in 2023.
2. Electric Vehicle (EV) & Hybrid Sales
Growth Slows
According to BloombergNEF, while EV adoption will
rise this year, it will be at a slower pace than in the
past two years. Sales increased from around 3.2 million
in 2020 to over 10 million in 2022. The association
added that there will be a total of 13.6 million
plug-in passenger vehicle sales in 2023, with about
three-quarters of those being fully electric.
EVs and hybrids require less long-term maintenance
and require fewer mechanical replacement parts.
Without optimizing service department strategies
and processes, it could mean less revenue for fixed
ops. Dealers will need to market differently to their
http://www.CNBC.com

Fixed Ops Magazine - 2023 Vol 20 02

Table of Contents for the Digital Edition of Fixed Ops Magazine - 2023 Vol 20 02

Fixed Ops Magazine - 2023 Vol 20 02 - 1
Fixed Ops Magazine - 2023 Vol 20 02 - 2
Fixed Ops Magazine - 2023 Vol 20 02 - 3
Fixed Ops Magazine - 2023 Vol 20 02 - 4
Fixed Ops Magazine - 2023 Vol 20 02 - 5
Fixed Ops Magazine - 2023 Vol 20 02 - 6
Fixed Ops Magazine - 2023 Vol 20 02 - 7
Fixed Ops Magazine - 2023 Vol 20 02 - 8
Fixed Ops Magazine - 2023 Vol 20 02 - 9
Fixed Ops Magazine - 2023 Vol 20 02 - 10
Fixed Ops Magazine - 2023 Vol 20 02 - 11
Fixed Ops Magazine - 2023 Vol 20 02 - 12
Fixed Ops Magazine - 2023 Vol 20 02 - 13
Fixed Ops Magazine - 2023 Vol 20 02 - 14
Fixed Ops Magazine - 2023 Vol 20 02 - 15
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Fixed Ops Magazine - 2023 Vol 20 02 - 17
Fixed Ops Magazine - 2023 Vol 20 02 - 18
Fixed Ops Magazine - 2023 Vol 20 02 - 19
Fixed Ops Magazine - 2023 Vol 20 02 - 20
Fixed Ops Magazine - 2023 Vol 20 02 - 21
Fixed Ops Magazine - 2023 Vol 20 02 - 22
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Fixed Ops Magazine - 2023 Vol 20 02 - 24
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Fixed Ops Magazine - 2023 Vol 20 02 - 27
Fixed Ops Magazine - 2023 Vol 20 02 - 28
Fixed Ops Magazine - 2023 Vol 20 02 - 29
Fixed Ops Magazine - 2023 Vol 20 02 - 30
Fixed Ops Magazine - 2023 Vol 20 02 - 31
Fixed Ops Magazine - 2023 Vol 20 02 - 32
Fixed Ops Magazine - 2023 Vol 20 02 - 33
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Fixed Ops Magazine - 2023 Vol 20 02 - 40
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Fixed Ops Magazine - 2023 Vol 20 02 - 42
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Fixed Ops Magazine - 2023 Vol 20 02 - 45
Fixed Ops Magazine - 2023 Vol 20 02 - 46
Fixed Ops Magazine - 2023 Vol 20 02 - 47
Fixed Ops Magazine - 2023 Vol 20 02 - 48
Fixed Ops Magazine - 2023 Vol 20 02 - 49
Fixed Ops Magazine - 2023 Vol 20 02 - 50
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Fixed Ops Magazine - 2023 Vol 20 02 - 57
Fixed Ops Magazine - 2023 Vol 20 02 - 58
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