Survey Shows Dealers Move to Digital

By Staff Writer September 16, 2020

Protective Asset Protection, a provider of F&I programs, services and dealer owned warranty company programs, found that the COVID-19 pandemic forced many dealers to quickly implement digital retailing options. It resulted in 68 percent of respondents are now offering F&I product selection and pricing online. It also forced many dealers to quickly implement digital retailing options.

This is Protective’s latest industry survey which shows how COVID-19 impacted auto dealers and their efforts to quickly implement digital tools and resources available to consumers shopping for vehicles and F&I product options.

Protective commissioned an online survey of nearly 400 automotive dealership executives and Only 58 percent said they were making these F&I options available online before the pandemic. Another 68 percent said they’re now offering financing options/loan applications online, compared with 55 percent before the pandemic.

Roughly one in five dealers said their sales have increased as much as 10 percent since the pandemic went into effect, with dealers leveraging more digital tools. Looking forward, while 19 percent of dealers believe their digital retail sales will remain flat, nearly a third (29 percent) said they believe their digital sales will increase slightly.

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Last modified on Monday, 21 September 2020 12:45