Steve Greenfield

Here's a new analysis of automotive DIYers in 2024 with some surprising results. We're indebted to Michael Chung at Auto Care Association, who generously let us dig deeper into a market research project conducted by Hanover Research. The original project looked at primary reasons for DIY and do-it-for-me (DIFM) consumer behavior, and we wanted to specifically look closer at DIYers and their unique characteristics. In this analysis, we look at what projects DIYers tackle, DIY demographics, where they get their information for repair and maintenance projects, and how reliable they view sources of information. We hope you find this helpful. Click here: https://lnkd.in/gm38BQR8 #autocare #marketresearch #automotive #aftermarket #consumerresearch #digitalmarketing #diy #difm

4

Attention Auto Dealerships! 🚨 Stay ahead of cyber threats and protect your business. Learn from the recent CDK Global cyber incident and implement robust cybersecurity measures. Your dealership's security is non-negotiable. Stay informed and stay safe. https://lnkd.in/ewP-4ppE  #CyberSecurity #AutoIndustry #CDKIncident #StaySafe #CallSolutionsUSA

3

Newly released data from the Presidio-NCM Average Dealership Performance Benchmark reveals that the typical dealer isn’t acting quickly enough to rein in expenses that rose during the heights of the pandemic profit boom. The average dealership saw its variable gross profit plunge 32 percent since 2022, but its total personnel expense has dropped by just 6 percent during the same period. “We’re surprised that the typical dealership hasn’t adjusted its spending and variable costs as quickly and appropriately as it should have given the decline in profitability over the last two years,” said George Karolis, president of The Presidio Group. “This is a time when dealers must be nimble and adjust quickly to the industry’s changing circumstances, and many of them have not.” According to the benchmark, which is produced by The Presidio Group and NCM Associates, net pretax profit for the average franchised store dropped 33.4 percent through the first half of 2024 compared with the same period in 2023. Even so, the average dealership’s profit was still 1.7 times 2018’s level. For more insight and data on the average dealership’s performance, see the full Presidio-NCM benchmark report here: https://lnkd.in/ejV9YtKu. #dealerships #DealershipPerformance #PresidioGroup #NCM

16

SCOOP: Massive win for New York dealers: NY Gov. Kathy Hochul just signed a new law requiring automakers to cover ALL warranty repair costs. Now – automakers must pay dealers based on actual retail labor time. But that's not all... The bill also forces manufacturers to cover diagnostics, and they can't deny warranty claims simply because they're out of parts… What’s more? This law could benefit NY dealers in many ways: 1. Boosting technician employment 2. Better pay for warranty work 3. Reclaiming market share from aftermarket shops The big question is – will other states follow New York’s lead? Read today’s top automotive stories, presented by OPENLANE US: https://lnkd.in/ge9R7NyH (CDG News Exclusive)

261

42 Comments