CarGurus Director of Sales in Canada Sam LaPointe recently joined Joe Overby of Auto Remarketing Canada to discuss some of the challenges and opportunities facing car dealers in Canada. In the podcast, they also delve into topics including:
You asked and we listened. CarGurus is excited to announce the launch of IMV Scan, a new tool that allows our dealer partners to use a VIN to get an estimated Instant Market Value (IMV) and receive a breakdown of the price ranges for each deal rating – all before adding the vehicle and price to their inventory feed. IMV Scan lives within the CarGurus app and is available to dealers who are currently enrolled in Enhanced, Featured, and Featured Priority packages on a trial basis through the end of 2020.
At CarGurus, we understand quick and effective lead follow up is critical for dealers to win the sale. That’s why we’re thrilled to announce our partnership with Calldrip, a lead management software focused on speed of response, that helps our dealer partners connect with more customers and close more deals.
In less than 30 seconds, Calldrip connects your dealership sales team with hot, ready-to-buy shoppers by converting online leads into phone calls. Though Calldrip helps you get the shopper on the phone almost immediately, it’s up to your dealership staff to do the rest. Remember, your number one objective should be to get the customer into your showroom for an appointment whenever possible.
To help you get the most from this partnership, we’ve put together four best practices for handling these leads below.
As COVID-19 restrictions continue and even increase in pockets across Canada, automotive sales have been remarkably resilient. Consumers who formerly relied on public transit or ride-hailing are buying cars for the first time or replacing their existing vehicles, spurred on by the social distance they naturally provide.
But do automotive dealers need to worry about another decline as we head into winter and a second wave? From the perspective of complete shutdowns, most likely not: the lessons learned through the initial spring lockdowns are allowing dealerships and other low-risk businesses to continue operating with the right measures in place.
However, some tweaks to the systems and mindsets put in place in April and May could help dealers stay ahead of the unforeseen challenges through the colder months.
Inventory acquisition has long been a pain point for dealers. It requires a combination of data, precedent, and dealer’s intuition to keep a lot stocked with in-demand vehicles that will move. And that’s before you consider other factors that fluctuate like changing consumer behavior, economic trends, and unanticipated events that affect supply and demand.
Dealers have been weathering changes and adapting their strategies for decades. However, the Covid-19 pandemic has had an unprecedented impact on the industry—particularly, on supply. It’s led to auctions moving online, manufacturing plants being shut down by OEMs, lease extensions, and an overall shift in consumers’ preferences. Together, these variables have added up to a shortage of quality new and used vehicles unlike ever before.
And just like that, CarGurus’ second annual Navigate automotive conference has come to an end. During a year that’s been anything but normal, it was great to have more than 700 dealers and industry partners from the US, UK, and Canada come together to share ideas and strategies for growing their businesses during this unique time. To everyone who attended this year’s event—thank you, and we hope to see you in person next year!
In the meantime, here are a few of the key themes from the event:
Don’t miss Navigate, CarGurus’ second annual automotive conference, coming straight to you virtually on October 26th & 27th. We’re gearing up for an amazing two days filled with fresh approaches, the latest industry trends, and speakers you won’t hear anywhere else. Can’t attend live? No problem. Register today to get access to all the sessions next week, so you can watch at your own pace.
See what’s in store:
Last year, CarGurus introduced the world to a new kind of automotive conference: Navigate. This year, we’re going virtual—and it’s less than a week away!
We’ve got an exceptional agenda planned, and we’re thrilled to announce the latest session at Navigate:
We hope you have your calendars marked for Navigate, CarGurus’ second annual automotive conference, on October 26th & 27th. This year, the event has been reimagined: it will be held virtually and for free!
We’ve got an outstanding agenda planned—there’s sure to be something for everyone, from dealership owners and GMs to sales staff and marketing managers. With so much to experience at Navigate, we’ve highlighted some of the sessions you won’t want to miss below.
Dealers have always been known for their charitable giving, partnering with food pantries, sponsoring local baseball teams, and most recently supporting hospital staff and first responders. Last month, we launched our Driving Difference contest as a way to celebrate and reward those helping out in their communities. We asked dealers to share on social media what they’ve been doing to spread positivity and use #DrivingDifference. We received entries from dealers across the country and, after weeks of anticipation, we are thrilled to announce our winners!
The winners of the $1,000 prize were selected by a panel of judges based on factors like the impact of their work and creativity. Check out the winning dealers and their entries below: