According to a recent Bloomberg survey, auto sales are on pace to rise at least 10 percent for the third consecutive year. The U.S. sales rate exceeded the 14.5 million pace, which was the average estimate of 16 analysts in Bloomberg’s survey. This rate is the best industry sales pace since 14.95 million in March 2008, according to the Automotive News data center.
September highlights:
- Chrysler sales rose 12 percent to 142,041 vehicles for its 30th straight gain
- GM’s sales rose 1.5 percent
- Toyota Motor Corp. led with the biggest gain, with sales surging 42 percent
- Honda boosted sales by 31 percent
Does it sound like Americans are beginning to raise their heads and purchase the big-ticket items they’ve been holding off on? They might be. However, the pain and fear caused by the economic turmoil of the past few years translates to smarter purchasing decisions combined with wariness of job instability. For example, small cars with better gas mileage are on pace to capture the largest share of the U.S. auto market since 1993. Do you remember what was happening in 1993? Like today, we were on the tail end of a recession and on the precipice of new economic growth and 22 million new jobs.
So, what if you could empower consumers to take action – get over the hump and make a decision about a new vehicle purchase, while at the same time differentiate your dealership from the competition?
Now, you can with WALKAWAY® — the industry’s first and only debt cancellation vehicle return program. WALKAWAY® enhances customer satisfaction by empowering consumers to make their next vehicle purchase with confidence, knowing that if unforeseen life events occur, they are protected. This unique program also gives you a proactive way to manage risk by adopting a strategy that decreases repossessions and collection costs and strengthens margins and profitability by closing more sales and enhancing loan volumes.
Provided by EFG Companies, the innovators behind the renowned Hyundai Assurance program, WALKAWAY® has proven to help sell more cars, differentiate dealerships in a crowded market, save deals, and drive additional revenue with upgrade opportunities.
Contact EFG today for a complimentary analysis on how the program will impact your business.