Dealer’s Using Blockchain, Waiting On The Sales Process, & Swaggy Monday

February 7, 2022
This Monday is a little bit better looking that last Monday. Why? We’re so glad you asked! We just launched the new ASOTU Store where you’ll find a fresh collection of Sophisticated Streetwear for Automotive Troublemakers. Have a look around! And as always, we’re in our seats and ready to give you the edge on today’s most relevant issues in Automotive, Retail, and Technology.
Listen On

This Monday is a little bit better looking that last Monday. Why? We’re so glad you asked! We just launched the new ASOTU Store where you’ll find a fresh collection of Sophisticated Streetwear for Automotive Troublemakers. Have a look around!  And as always, we’re in our seats and ready to give you the edge on today’s most relevant issues in Automotive, Retail, and Technology.

Peloton (acquisition, stay the course, or out of business?)

  • Among prospective purchasers are Nike and Amazon
  • Shares up 30% amidst talks
  • “BMO Capital Markets analyst Simeon Siegel said he is skeptical of the value that Peloton would bring to any major tech company, or an athletic apparel giant such as Nike, ‘given its comparably small size, faltering demand, and declining engagement.’”

Customers still playing the waiting game, and they don’t like it.

  • “Dealership respondents on average said a purchase took 1.8 hours, while consumers on average estimated time spent at 2.1 hours.”
  • “For example, when the sales process was reported to take three hours or longer, 57 percent of dealership respondents said reentering information was a pain point.”

German Dealers using Blockchain to process finance transactions

  • Instant verification means eliminating most paper work potentially saving bank fees of up to 1.5% of the transaction
  • Dealers may be able to process financial transactions entirely without the banks involvement AND be more secure
  • When toying with the idea of using blockchain for car financing, one dealer said the thought was “a bit like asking if you should use a laptop for your bookkeeping.” But dealer interest has grown as banks and start-ups have validated the concept.