Does your dealership struggle with factory rebates and incentives? Mention the word “incentives” to your staff, and you will probably send everyone out of the room. Unless your OEM automatically populates them on your website, you are stuck with the daunting task of manually applying the discount if you want to be competitive. Even if the OEM publishes them to your site, you are still tasked with manually applying the rebates if you market your vehicles on other sites.
Rebates and incentives usually change monthly, but lately the manufacturers have been making mid-month changes in an effort to be competitive with the other manufacturers. When this occurs, dealers are faced with the challenge of having to update the programs multiple times per month.
The manufacturers are also becoming much more specific with the rebates: cab type, fuel type, box length, engine driveline and now even sub-trim just to name a few. The Ford F-150’s alone have over 15 current rebates to choose from this month. Also manufacturer promotions like Employee Pricing and the latest 20-25% MSRP sales have become fashionable but the OEM’s have not provided their dealers with an easy way of showing potential customers these discounts. It ultimately causes havoc with your sales managers and potentially lost sales from these incentive not being posted in a timely manner. The only solution is for your staff to manually discounting every vehicle that qualifies. When the promotion ends, you then have to go in again and adjust the price. Finally, assuming that you have the correct rebate attached to your vehicles, you now need to choose whether you want to offer any “extra” programs such as Ford Costco and GM Card Application Bonus. As you can imagine, rebates can be a real nightmare for those responsible for implementing.
Rebates are a great way to prompt your online shoppers to action without digging into your gross. According to JD Power’s 2016 New Autoshopper study, 88% of shoppers say that price is the determining factor for contacting a dealership. Pricing is critical and rebates ensure that you remain competitive. Without a competitive price, shoppers will “de-select” your store. Shoppers typically don’t understand or care about rebates, they just look at the final selling price. When you shop online and see the exact same item for two different prices, which seller do you contact?
AIM Experts has developed an automated rebate solution. Currently used by over 300 Canadian car dealerships, the AIM rebates are designed to automatically attach to each unit individually based on the rebate and vehicle parameters. AIM also has developed technology to immediately apply Employee Pricing or the percentage off savings to any listing we manage. The incentives are automatically discounted from the MSRP to show the consumer the savings. They can be customized to add in additional incentives that you would like to apply. The rebates can be sent to any place that the vehicle is being advertised. They are also compliant to local governing bodies (i.e. VSA, OMVIC and AMVIC). Rebates update the day they are issued on both your website and anywhere the vehicle is listed .
To learn more contact your AIM Experts account manager today.