Business View Magazine | April/May 2022

80 BUSINESS VIEW MAGAZINE VOLUME 9, ISSUE 4 to outbid each other. This competition benefits consumers, who usually don’t have access to or the time to pursue such an array of lenders. And dealers compete on service and parts, providing consumers with access to professional and certified repairs virtually anywhere at any time. Consumers also benefit when dealerships take on warranty and recall work. That’s because dealerships get reimbursed by the manufacturers for performing warranty and recall repairs, which enables dealers to make warranty and recall repairs at no cost to their customers and makes dealers strong advocates for their customers. LOCAL COMMUNITIES BENEFIT With franchised dealerships, vehicle manufacturers gain a free distribution channel for their products. Local dealerships have invested more than $200 billion in land, buildings and infrastructure to sell and service vehicles. New-vehicle dealerships have transformed over time from corner lots adjacent to service stations into multi-million-dollar facilities with modern amenities, focused on customer satisfaction. DEALERSHIP MODEL CONTINUES TO ADAPT AND EVOLVE As auto retail evolves to a more data driven, tech-centric marketplace, Illinois dealerships are on the cutting edge as they adapt to succeed. Our dealers are exceptional at competing for customers and profit in an ever-changing retail climate while building profitable, valuable businesses for the future. With new technology platforms, drivetrains and new forms of vehicle ownership, the dealership business model of tomorrow will continue to evolve, and our dealers will continue to provide the best vehicle buying experience for their customers.