Ally Financial is increasing wholesale credit lines for dealers as they ride the wave of improved sales. The lender expanded wholesale limits for more than 40% of its dealer clients.
Dealers are doing an array of things to boost their fixed operations, from building new facilities with prominently located service lanes to using CRM software for systematic marketing.
Family businesses aren’t inferior to corporate enterprises. A properly run car dealership will do well, whether it is owned by a major corporation or mom, dad and the grown kids.
Overproduction, particularly by domestic auto makers, glutted the market, forced dealers to take cars they didn’t want, drove down prices, hurt residual values and betrayed customers, he says.