Post by Michael Webb

Bain & Company press release from 2018 - "Potential One-Two Punch of Recession and Shifting Demographics Could Reduce Total US Vehicle Demand to About 11.5 Million by 2025" They revised these numbers to 14M by 2040. Why the drop in new car sales? - Slowing population growth - 1.6 births per woman - Fewer teens getting driver's licenses - Only 50% of 16 year olds have a DL - Younger buyers are purchasing fewer new vehicles - 18-34 - Less than 10% of new registrations - Afforability is an issue - 20% of new car payments are $1000+ - Vehiclse last longer - 12.8 average age - Alternative transportation reduces ownership - Uber, Lyft, etc. A shrinking new vehicle market makes customer retention a competitive advantage. That's why two of the largest public dealer groups partner with us. We don't sell flashy AI. We deliver proven outbound strategies that increase RO count, improve retention, and drive measurable revenue. Never hurts to see what's out there... #auto #service #fixedops #fixedoperations #ai #customerexperience #autoengage