The squeeze has been on for dealers and vendors for a very long time.
As much as we all do not want overregulation, here is an example of why it's important monopolies do not exist and fair business practices are in place.
While there is much the companies mentioned offered to the industry early on, I've watched firsthand as it became increasingly difficult, if not impossible, for vendors to integrate their services for their dealers. Add to this ill-defined, lengthy time to add services and the high cost portioned out to both the vendor and the dealer
A smaller, yet quite promising startup I'm helping shared their initial startup costs upward of five figures. Choking out small businesses and potential competitors before they can even get a foothold with their solutions for our dealers was bound to have a reckoning day.
In a time where APIs are the law of the day and digital life has become app based, I wonder who will emerge out of this with solutions much more friendly and cost efficient.
Elevating automotive partnerships helps us all.
So does healthy and fair competition.
Many newsworthy stories are happening in our space, and I thought my network would appreciate Cliff Banks' insights as he always brings a very needed perspective and depth to the story.