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Drive to Success: The Road to Recovery

by Lindsay Lauck
on April 29, 2020

A series of unprecedented challenges is forcing the auto industry to revolutionize its strategies, redefine goals, and adapt seemingly overnight. The digital transformation taking place, however, was long overdue. As dealers figure out how to retain business continuity, more tech-savvy dealerships using integrated technologies and offering creative service options for buyers are gaining an edge. It’s too early to see which businesses will thrive, however, it’s clear that the road to recovery will depend greatly on technology, digital integration, and adaptability.

1 – Digital Transformation Is The Auto Industry’s Road To Recovery

Forbes: Even before the current economic slowdown, the automotive industry was facing serious challenges. Now, it’s facing a crisis. The only way out is through, as they say, and digital transformation is the key to recovery.

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2 – Millennials a Probable Key for Auto Industry Recovery

CBT News: Millennials will play an important role in the recovery stage of the post-contraction economy, according to research. Dealers can leverage relationship-building and data-mining now to optimize this buying group when that time comes.

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3 – Coronavirus: Five Strategies for Industrial and Automotive Companies

McKinsey: Achieving success in the automotive market goes beyond resilience. Make sure your business is ready to thrive by learning the five stages set forth by experts in this plan.

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4 – How the Automotive Industry can Build Brand Resilience During COVID-19

Adobe: Auto brands and businesses embracing digital technologies are in for a faster recovery and higher resilience than their competitors. Throw in customer loyalty, retention, and good will towards the less fortunate and you have a winning combination.

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5 – Hub Aims to Help Dealers Build Resilience, Reimagine the Future

Auto Remarketing: A new hub of resources aimed at helping dealerships resolve current challenges and reimagine their business for the future is bringing continuously updated free webinars, articles, thought leadership, and best-practices to the public. This digital education center is aimed at building economic business continuity for all dealers across the country.

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Tags: Digital Transformation, Drive to Success, Recovery, Resilience

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