GNYADA December Newsletter

AI in Automotive Retail 18

About 60% of dealers are currently testing AI tools, and nearly 15% have started integrating AI into workflows and decision-making. Marketing is the most common starting point because it provides quick, measurable results. Popular use cases include: • 24/7 automated customer engagement through chat, text, or email (52%) • Personalized communications tailored to buying behavior (48%) • Predictive analytics identifying customers most likely to purchase (39%) What’s Holding Dealers Back Despite growing interest, many dealers remain cautious: • 74% are concerned about accuracy or errors

Artificial intelligence (AI) is quickly becoming a part of automotive retailing. Not just a futuristic concept. A new Cox Automotive study, AI Readiness in Auto Retail, reveals that dealerships are increasingly recognizing AI as a business necessity. According to the report, 81% of dealers believe AI is here to stay , and 63% say investing in AI now is essential for long-term success . “ Dealers don’t care about AI for AI’s sake, ” said Lori Wittman, President of Retail Solutions at Cox Automotive. “They care about outcomes they can measure—more cars sold, lower inventory costs, higher gross profit. That’s why we’re focused on delivering results, not just pushing technology.” Where AI is Being Used Today Dealerships are starting their AI journey in practical areas that help them to learn and build trust. Marketing, sales, back office, F&I, and service are the main entry points.

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60% feel uneasy about data and algorithms 66% seek more education and training before expanding usage

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With the average dealership already managing 40+ software systems, the growing marketplace of AI- powered tools can feel complex and overwhelming. Dealers are seeking clarity on what works, what doesn’t, and which tools truly impact profitability rather than simply adding another login. As shoppers continue to move fluidly between online research and in-store purchasing, AI offers opportunities to personalize engagement, optimize pricing strategies, and build customer confidence more consistently. GNYADA thanks Cox Automotive for the contents of this article. Click here to view the full study.

Three Strategies to Build Smart Health Insurance Plans 17

specialty medications, are rising rapidly. Review your pharmacy program each year with your pharmacy benefit manager (PBM) or insurer to ensure its still working for you. Your review should include: • Updating contract terms to stay competitive. • Reviewing trends in generics, brand names, and specialty drugs. • Checking alternative funding programs that help offset expensive claims. A financially viable health plan does not just save money, but it helps your dealership attract and retain good employees. By using data wisely, addressing high-cost conditions, and keeping your pharmacy program current, you can build a plan that supports both your team’s health and your bottom line. For any questions regarding your dealership’s health plans, please contact Mike Conway from the GNYADA Insurance Brokerage, at mconway@gnyada.com.

issues are most common among your employees. Then, consider adding programs that encourage better habits and preventive care. Affordable marketplace solutions like wellness coaching or condition management tools can engage your staff and reduce long-term costs for both your employees and your dealership. 2. Help Employees Shop Smart for Care - Healthcare costs can vary widely, even for the same procedure. When employees understand those differences, they can make better choices without sacrificing quality. Tools that provide cost and quality comparisons help employees choose the right provider.. Combining these tools with models like Reference-Based Pricing which sets fair, predictable limits on what your plan pays can add financial stability and transparency. 3. Optimize Your Pharmacy Program Prescription drug costs, especially

A financially sound health plan is just as important as keeping your dealership’s operations running smoothly. With the right approach, you can stay ahead of rising costs while supporting a healthier, more productive team. Digging into your health benefits data helps you understand employee needs and spending patterns, but staying ahead requires tools that help you look forward and not just back. By comparing your plan coverage to industry benchmarks, you can spot potential cost drivers early and turn numbers into smarter health plan decisions. Knowing what drives your costs is only half the battle. The next step is applying that knowledge to manage them effectively. The following are three proven strategies that data can help your dealership put into action. 1. Address High Costs of Chronic Conditions – Chronic conditions like diabetes, health disease, and obesity are major contributions to health plan expenses. Use your analysis to identify which health

GNYADA’s Surety Bond Saves You Time and Money 19

automatically renewed prior to cancellation. All New Car dealer bonds are effective for 2 years.) Contact your insurance agent or bonding company early if you need renewal paperwork issued. Confirm that your dealership name (inclusive of corporate name and dba (if applicable)) address, and ownership details match, across all DMV and bond documents.

As we approach the end of the year, now is the perfect time for dealers to review upcoming renewal dates for both facility licenses and dealer bonds to ensure there are no interruptions in your dealership’s operations. Dealers should: • Review your facility’s license expiration date (found on your DMV Official Business Certificate).

Need a New Bond or Renewal? GNYADA Can Help. Through GNYADA’s Surety Bond Program, members can take advantage of the lowest rates in the state and a simple, streamlined application process with no credit checks, financial statements, or additional fees for riders. Most bonds are processed within 24–48 hours, saving dealers time and effort. If you have questions or need assistance with a facility or bond renewal, contact the Association at 718.746.5900.

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Check the effective and expiration dates listed on your surety bond. This date does not always coincide with the date on your facility license. (If you have your bond through GNYADA, your bond is

Completing this review now will help ensure a smooth start to the new year without any compliance surprises.