The automobile industry has changed a lot over the past 10 years.
Nowhere is this clearer than with the vehicles themselves.
Nowadays, selling these technologically-advanced vehicles means having the right technology to do so, as well. Specifically, with predictive selling, technology in cars can boost F&I profit.
How Predictive Selling Can Increase the Sales of Technologically-Advanced Vehicles
More and more, the technology dealerships use is becoming almost as important as the cars they offer in terms of attracting leads, turning them into customers, and then keeping those customers satisfied.
Of course, the vehicles themselves still reign supreme, especially the newer models with their advanced technological capabilities.
Fortunately, one specific type of technology – predictive selling – is helping dealerships make even more out of the opportunity that these vehicles represent.
How Predictive Selling Leads to Greater F&I Profits
Predictive selling is exactly what it sounds like. It refers to technology that is able to anticipate a customers’ unique preferences. It’s also able to optimize inventory levels by cataloging what customers have bought in the past.
At a dealership, this means that predictive selling helps your F&I experts better understand which products to offer customers. Over time, it also records what products you should consider offering more often and which may not be a good fit for your market.
This is important for technologically-advanced vehicles because their many new features provide so many new opportunities for offering F&I products.
Technologically-Advanced Vehicles Are the Future
It’s important to keep in mind that technologically-advanced cars aren’t going anywhere. In fact, what was considered advanced at the moment will soon be considered standard.
Look at hybrid cars. The technology required to give them their hybrid status used to be about as niche as it gets. Now, they’re growing in popularity and just about every major manufacturer offers multiple hybrid vehicles with more planned in the future.
Furthermore, technologically-advanced vehicles are affordable, as well. Even those with the most modest of budgets can consider a couple models with some truly impressive features.
That’s why it’s important that your dealership embraces this change. Adopt predictive selling, and you can turn what would otherwise be a challenge into a major opportunity.
Technology in Cars Should Boost F&I Profit
If the new wave of technology in cars doesn’t boost F&I profit at your dealership, it’s time to make some changes right away.
At The ACE Group, we can help. Our company specializes in assisting dealerships like yours make the absolute most of their F&I department. This includes understanding how they can use predictive selling to sell more technologically-advanced automobiles with greater profit margins.
Contact us today and we’ll go into further detail how our firm can help your unique dealership meet its specific goals.