Welcome to Knowledge Base!

KB at your finger tips

This is one stop global knowledge base where you can learn about all the products, solutions and support features.

Categories
All

Products-CDK Global

Navigating Inventory Challenges: CDK Global Insights on Car Buying Experience in October

Inventory Impact on Ease of Purchase

In October, CDK Global observed a notable decrease in the Ease of Purchase score, with only 87% of car buyers finding the process easy. This decline from the previous months suggests that disruptions in inventory, such as stop sales, model year turnovers, and natural disasters, have affected the car buying experience. Despite the drop, the current score is still higher than the same period last year, indicating ongoing challenges for franchised car dealers.

Challenges in Finding Desired Vehicles

One significant impact of inventory disruptions was the decrease in the number of buyers who were able to find the vehicle they wanted in stock. This percentage fell to 49% in October from 54% in September, leading to difficulties in test driving as well. While more buyers resorted to buying their cars in transit or ordering from the factory, the overall ease of the process remained consistent at 76%.

Extended Purchase Timeline and Customer Concerns

The data also revealed that shoppers experienced longer-than-expected purchase timelines in October, with 32% indicating delays compared to 25% in September. Some buyers expressed challenges with the finalization process, citing an overwhelming number of choices and excessive paperwork. Moreover, the completion of necessary forms saw a slight decrease in perceived ease.

Outlook for the Fourth Quarter

As the fourth quarter progresses, CDK Global anticipates further challenges in the Ease of Purchase metric if inventory issues persist. The industry may face continued declines unless inventory smooths out to ensure a strong finish to the year. Addressing these inventory-related hurdles is crucial for enhancing the car buying experience and maintaining customer satisfaction.

Revolutionizing Automotive Dealerships with CDK Global's Dealership Xperience Platform

CDK Global's Ongoing Innovation with Key Partners

CDK Global has recently extended its service agreement with Holman, one of the largest privately-owned dealership groups in the U.S. This partnership highlights CDK's commitment to ongoing innovation of the Dealership Xperience Platform. By collaborating with key partners like Holman, CDK continues to revolutionize the automotive retail industry, offering cutting-edge solutions and services to enhance the dealership experience for customers and employees alike.

Read article

Transforming Auto Dealerships with CDK Global Solutions

Enhancing Customer Experience

In today's digital age, consumers expect a seamless and efficient car buying experience. CDK Global offers a comprehensive digital retailing platform that simplifies the process for customers, whether they choose to shop online or in the showroom. By allowing customers to lead their buying journey and reducing wait times, dealerships can enhance customer satisfaction and drive sales. Additionally, CDK Global's Customer Relationship Management (CRM) solution enables dealers to connect with leads effectively and strengthen existing relationships, leading to real growth opportunities.

Read article

The Significance of Designing License Plate Frames for Car Dealerships

Designing a Impactful License Plate Frame

License plate frames play a crucial role in promoting car dealerships, but it's essential to design them strategically to make a lasting impact. When crafting these frames, less is more. Focus on clearly identifying the dealership that sold the car without cluttering the frame with excessive information. A veteran branding expert suggests that the dealership name and a short slogan are sufficient to convey a consistent branding message. By keeping the design simple and focused, you can ensure that drivers remember your dealership's name, which can lead to increased brand recognition and customer retention.

Read article

Empowering Dealerships with Data-Driven Intelligence - CDK Global

Unleash the Power of Data and Intelligence

CDK Global offers cutting-edge business intelligence and data analytics solutions to help dealership businesses thrive in a competitive market. By harnessing the power of data-driven intelligence, your dealership can deliver personalized experiences to customers, efficiently manage data, and improve overall performance. Requesting a demo will give you a hands-on experience of how our solutions can revolutionize your dealership operations.

Read article