Penske Automotive Group's artificial intelligence platform to improve customer service and increase service and parts revenue is expanding across the auto retailer's dealerships nationwide.
Used-vehicle sales giants are among auto retailers assessing and expanding applications of artificial intelligence.
Revenue from advanced driver-assist systems is expected to surge from just $1.7 billion in 2023, a report by Oliver Wyman Forum finds. The firm also expects massive growth in EV charging services.
U.S. sales of the Bronco SUV are down 16 percent this year, but dealers and analysts say it's a function of supply and demand finally normalizing. Accessories and other add-ons remain lucrative.
While one firm is betting on AI's use to price dealerships, some industry experts question its ability to overcome subjective elements of dealership valuations.