BVM August, 2016 - page 32

32 Business View Magazine - August 2016
National Automobile
Dealers Association
Study Outlines Best Practices to Improve Dealer Performance in Digital Age
U.S. new-car dealers have tremendous opportunities
to expand their businesses and improve profitability,
despite challenges to current retailing models, con-
sultants from McKinsey & Company said at the 2015
National Automobile Dealers Association/J.D. Power
Automotive Forum in New York City.
During the forum, McKinsey & Company’s Stefan
Knupfer, a senior partner and 20-year veteran in the
auto industry, and Robert Mathis, a partner within the
firm’s Automotive & Assembly Practice, unveiled “Fast
forward: How US auto dealers can drive sustainable
economic performance in the digital age,” a new study
that provides a strategic perspective on opportunities
and challenges in the U.S. retail-auto sector.
Among their key findings, McKinsey and NADA found
that if carmakers and dealers make the necessary
investments to achieve operational excellence and
streamline marketing expenses, dealer profitability,
on average, could hit the levels of today’s top quartile
performing dealers. These benefits could include in-
creased returns on marketing investments and higher
customer satisfaction.
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