Part I: WHY NO INDUSTRY IS MORE RESILIENT
Over the next few weeks, AutoHook will be interrupting your daily COVID-19 newsfeed of doom and gloom to deliver a much-needed dose of positivity to dealers and automotive professionals across the U.S. In our mini blog series, “On the Dealer Front Lines,” we will share real-life stories and lessons learned during some of the toughest times in the auto industry - from the 1989 recession to 9/11, to the Great Recession of 2008, and through ongoing natural disasters.
We’ve been fortunate enough to interview a “task force” so to speak of auto industry veterans, dealership owners, CMOs of large dealer groups, pioneers in the AdTech space, and leaders at the OEM level to collect first-hand anecdotes of how this industry adapted during the catastrophes of the past and the priceless lessons they took with them.
What’s interesting about the way each of these crises in our history unfolded is that each one had a V-shaped curve. Although we were forced to navigate through turbulent times, in most cases, we came back out of these situations better positioned for success than when we went in.
Even more noteworthy is that the real-life stories we’ve collected are not negative ones. They are stories of innovation and of dealers, technology vendors, and OEMs utilizing these times to come together and sharpen their blade while inventing new and better ways of operating.
Today, we face an unprecedented, worldwide pandemic that will undoubtedly bring new challenges no industry will be immune from. However, the silver lining is that there are things dealers can do now in order to weather this storm and come out of it smarter, more prepared, and stronger than ever.
This series will serve as a reminder of the one theme that has consistently united the hardest times in the history of the car business: innovation.
Stick with us during this journey as we share best practices, real-world examples, and lessons learned, infused with near-real-time data to help dealers thrive in a down market.
As Winston Churchill once said, “Those who fail to learn from history are doomed to repeat it.” So, let’s repeat the positivity that came from the lessons we’ve taken with us.
Stay tuned for Part 2 of On the Dealer Front Lines: What NOT to do Right Now.
