Andrew Diffenderfer is the co-founder and partner at Foundation Direct, a leading provider of tech solutions for search.

In this episode we discuss the current state of the car industry and consumer behavior in the digital age. We also discuss the shift in the industry towards 2023 and what dealers can expect in the coming years, including the importance of putting as much emphasis on service and fixed operations as on sales. Andrew also touches on the increase in transaction prices and the trend of consumers choosing to service their cars rather than buying new ones.

As the auto industry continues to evolve, it's important for dealerships to stay ahead of the game and prepare for the future. According to industry experts, the next few years will see a shift in consumer behavior and a change in the way that manufacturers approach the market.

One key trend that is expected to emerge is the rise of electrification in the auto industry. With many manufacturers focusing on producing more electric vehicles, it's important for dealerships to be prepared to meet the needs of this growing market. While EVs offer a number of benefits, they also present new challenges for dealers and manufacturers. For example, the maintenance requirements for EVs are different than those of traditional gasoline-powered vehicles, and consumers may not be fully aware of these differences. In addition, there are distribution challenges involved in getting EVs to dealerships, as well as the cost of incentives offered by manufacturers.

Another important consideration for dealerships is the issue of retention. In the past, manufacturers have focused on the number of cars sold and the percentage of those customers who return for service. However, it's important for dealerships to approach retention from the opposite perspective, by focusing on retaining service customers and using that as a way to sell more cars. Many manufacturers focus on retention rates based on the number of customers who return to a dealership for service after making a purchase. However, this approach may be backward, as it is often easier to retain a customer who has already received service from a dealership, regardless of where they purchased their last car. This means that dealerships should prioritize customer satisfaction in their service departments in order to increase retention and drive sales.

Overall, it's important for dealers to consider the shifts in the industry and how they can adapt to them in order to continue their success. By staying informed and adapting to these changes, dealerships can continue to thrive in a rapidly evolving market. Tune in for an insightful conversation on the future of the car industry.

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