Incentives: Rubik’s Cubes for retailers
Wednesday May 1, 2019
Incentives can seem like a Rubik’s Cube. Discounts and rebates — triggered by numerous factors — are like the moving puzzle parts that eventually result in a quoted price for consumers. There is customer money, dealer money, lease discounts, spiffs for members of the National Funeral Directors Association, rebates for Realtors and so on.
One thing is clear: Even amid such complexity, the more accurate consumer information that dealers and their finance departments have, the better.
According to the J.D. Power 2018 U.S. Sales Satisfaction Index Study, among customers who shopped but didn’t buy a vehicle at a dealership, 14 percent said they rejected the store because they had difficulty getting a straight answer on price. Nine percent walked away because of a perception of dishonesty.