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Asbury Automotive Group Inc (ABG) Q1 2021 Earnings Call Transcript

Asbury Automotive Group Inc (ABG) Q1 2021 Earnings Call Transcript
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Digital Retailing Still a Work in Progress, Executives Say

Digital Retailing Still a Work in Progress, Executives Say
Some retailers just aren’t feeling the urgency, especially mom-and-pop operations that can’t, or won’t, make the necessary investments in online retailing, says Jeff Dyke, president of Sonic Automotive.
Everybody in the auto retail space agrees: Digital retailing, which has been slowly progressing for over a decade, took a big leap forward because of the coronavirus pandemic. So, what continues to be the holdup?
First and foremost, buying a car is complicated, with a lot of moving parts, say speakers at the recent Reuters Automotive Retail 2021 conference.
For example, according to David Hult, president and CEO of Asbury Automotive Group, 70% of buyers have a trade-in, and of those, 80% have an existing loan they have to pay off. It’s difficult and expensive to come up with a single tool that can do it all, he says. ....

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Caroffer's New Group Trade Platform Helps Dealers Optimize Profitability And Automate Inventory Management Across Multiple Stores

Caroffer s New Group Trade Platform Helps Dealers Optimize Profitability And Automate Inventory Management Across Multiple Stores
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PLANO, Texas, Jan. 7, 2021 /PRNewswire/ CarOffer, retail automotive s first automated instant wholesale vehicle trade platform, rolled out a new vehicle sourcing and trading solution to meet the inventory needs of dealer groups. Now, in-group dealers can leverage all of the power of the CarOffer Matrix platform but at a multi-store level, allowing them to buy, sell and trade among each other and match inventory needs to specific stores. Centralized control, real time appraisals and one bill of sale give dealer groups a new edge to increasing profitability and efficiency. ....

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