Incentives? A Rubik’s Cube for auto dealers, according to Automotive News
A recent Automotive News article featuring industry experts — including Craig Jennings, president of Autodata Solutions — tackled the complexities of incentives for car dealers.
Staying up-to-the-minute on offers, discounts and rebates in order to properly quote potential customers is a daunting task. Research from Cox Automotive showed wide discrepancies in competitors’ incentive and rebate information. In a study of seven vehicles on the East Coast and West Coast of the U.S., Cox’s rates and incentives unit compared interest rates, cash and conditional incentives through dealer service provider tools. The company found pricing fluctuations of up to $6,750, leading to changes in monthly payments of up to $122.
“There is an incredible need to see and use these incentives,” Jennings told Automotive News. “It is really, really challenging because the manufacturers want these incentives available to dealers. They want consumers to know about them, but they don’t want competitors to know them.”
This leaves dealers scrambling to put together marketing plans in the first few days of each month. Incentive services, such as the one offered by ChromeData (an Autodata Solutions brand), can make sense of the incentive puzzle for dealers with timely and accurate information.
Chrome Incentives Service gives you instant access to available U.S. and Canadian retail and lease offers on any vehicle. This vast resource of data includes customer cash, finance rates, MSRP offers, lease data and special programs, as well as stackability and equipment-specific rules.