Professional Community for Car Dealers, Automotive Marketers and Sales Managers
The Manager says, "Do you have any sales experience?" The kid says "Yeah. I was a vacuum salesman back in North Dakota." Well, the boss was unsure, but he liked the kid and figured he'd give him a shot, so he gave him the job. "You start tomorrow. I'll…Continue
Added by Manny Luna on June 16, 2014 at 3:30am — No Comments
Savvy dealers are turning to low cost alternatives like Facebook and Twitter and other social media outlets as their alternative. Not only is it free, but it can help you interact with your future and existing customers in real-time. It's no secret that Dealers will do just about anything to…Continue
Today’s Women's Wednesday is going to focus on what it is women really want when buying a car.
What Women Want, starring Mel Gibson, was a great movie about an ad executive, who, after an injury, had the ability to read women’s minds. He could do wondrous things with that power. Knowing what women car buyers want is crucial for dealerships to be successful in today’s market.
Female customers are the fastest growing…Continue
Added by Anne Fleming on June 11, 2014 at 6:30am — No Comments
Swapalease.com, the nation’s largest car lease marketplace, released its latest report on vehicle incentives from May, and one particular area stood out: Despite all the attention on recalls, few GM brands are currently listed with a cash incentive.
Cash incentives are a normal practice in the world of automotive sales, but what makes this report different is that the Swapalease.com marketplace involves person-to-person transactions. According to incentives data from May listings,…Continue
Added by John Sternal on June 10, 2014 at 6:01am — No Comments
Here is this week's Used Car Market Report with the latest data from Black Book. What a week it has been for the Editorial team at Black Book! From viewing auctions online and the editors actual attendance, we were hands on with at least twelve auctions, to go along with the sixty-three physical auctions the Black Book survey personnel attended and reported the actual market activity from.Throw in the numerous electronic data feeds and we have a great feel for the market activity.
Added by John Sternal on June 9, 2014 at 8:30am — No Comments
According to Black Book® data, the average price of a used vehicle for model years 2008-2012 overall dipped slightly during May, the beginning of a summer season that typically sees higher depreciation compared with spring levels. Average segment prices saw -0.4% depreciation in May compared with the previous month (+0.9% in April). Domestic cars changed -0.5%; import cars changed -0.9%; domestic trucks gained +0.5%; and import trucks changed -0.4%. Average pre-recession depreciation is…Continue
Added by John Sternal on June 5, 2014 at 9:10am — No Comments
Help grads get rid of their car.
According to the National Retail Federation, Americans are on track to spend over $4.7 billion in cash, gift cards, clothing and electronics for graduates this year. They're also facing a still-tough job market. Today’s crop of new B.A.s are staring at roughly 8.5 percent unemployment and 16.8 percent underemployment, according to the…
Added by John Sternal on June 4, 2014 at 11:59am — No Comments
Here is this week's Used Car Market Report with the latest data from Black Book. Last week was a semi-short week as we all had the chance to remember and honor those who have served in the military. No matter where a holiday falls there is some effect on the rhythm of the auctions and buying and selling needs of the wholesale markets.
Overall the changes to the values were more stable with no extremes in the level of change. Even though there were comments within the Black Book survey…Continue
Added by John Sternal on June 2, 2014 at 11:57am — No Comments
Today’s Women’s Wednesday focuses on women’s reviews, and why they MUST be a critical, daily and intentional component of your business practice – both with the sales team and in the service drive.
As the #BigDataAuthority on women’s dealership experiences, we have shared that this powerful buying segment will purchase 27 million cars at new and used car dealerships this year. That equates to over 75,000 vehicles a day. What is your share of…Continue
Swapalease.com, the nation’s largest car lease marketplace, says its customers continue to escape their car leases at a near-record pace. According to data from April listings, car lease drivers in April planned to escape their lease contracts 15.3 months into their lease, slightly off the record pace set back in January of 13.9 months.
Based on lease contracts with an average term of 36 months, the current pace of exit continues to expedite in pace. Prior to 2014, the average…
What if there was a way to increase deliveries by 20% without spending tens of thousands on advertising, staffed events, mailers, etc.? Suppose these sales would be simpler, at higher grosses, and totally controlled by the dealership? And, unlike any other marketing service, what if you could prove the value of the service by tracking deliveries and gross and comparing it to your current methods? Now, imagine being able to do this 24/7 from anywhere in the world.
How does this…Continue
Added by John Fuhrman on May 21, 2014 at 5:35am — No Comments
The majority of consumers shopping for a new car lease are frustrated with the disconnect between advertised automotive deals and the cars they end up looking at inside the dealership. These findings were part of a joint online study between Swapalease.com and Wantalease.com from April 10 – April 24, 2014, presented to more than 1,000 drivers across North America. Complete results of the study may be found by clicking here.
Millions of cars…
Added by John Sternal on May 20, 2014 at 10:36am — No Comments
Added by Anne Fleming on May 19, 2014 at 5:16pm — No Comments
Here is this week's Used Car Market Report with the latest data from Black Book. It has been an extremely busy week for the Editors at Black Book attending physical auctions and watching other auctions online, while also analyzing thousands of records from remarketing data feeds from all across the country, We even had the opportunity to get hands on insight into a couple of significantly refreshed models that are soon to be hitting the new car market through the franchised dealers. Getting…Continue
Added by John Sternal on May 19, 2014 at 8:06am — No Comments
It is amazing to see how things have completely changed in recent years, especially when it comes to what most people prefer between cars and motorcycles. Cars have been a favorite for many people over the years because they are neat and in most cases used as status symbol. The cost of fueling and maintaining a car has gone up in recent years and most people are now going for motor scooter, motorcycles and bicycles because they use less fuel or no fuel and are also easy to maintain. This…Continue
Added by Kerry Blake on May 14, 2014 at 10:39pm — No Comments
As competition tightens, the need for exceptional leaders at dealerships couldn’t be greater...
Wayne Gretzky, the hockey…Continue
Added by Anne Fleming on May 14, 2014 at 4:00am — No Comments
Top performing dealers have discovered the secret sauce that maximizes profit and turn
By Keith Platt—Market Performance, Dealertrack Technologies
Deciding between higher front end profits or faster turn times is the age old best practice debate in the used car business. On one hand, some say “focusing too heavily on front end gross slows turn times and minimizes volume”. While others say “focusing too heavily on turn…Continue
Added by Keith Platt on May 13, 2014 at 12:01pm — No Comments
Despite growing supply challenges, profitable portfolio growth opportunities remain for automotive lenders according to a new white paper from Black Book Lender Solutions. The new white paper: “Finding Portfolio Growth Amidst Changing Supply Levels” may be downloaded by clicking here.
Increasing supply has become more of…
Added by John Sternal on May 13, 2014 at 7:50am — No Comments
They say a picture is worth a thousand words. If that’s the case, what is a video worth? 46% of people say they’d be more likely to seek out information about a product or service after seeing it in an online video. As an Auto dealer, are you leveraging the use of video to help sell more vehicles each month and engage your customers? Video marketing and YouTube in particular, can…Continue
Added by Jason Turner on May 8, 2014 at 8:48am — No Comments
According to Black Book data, the average price of a used vehicle for model years 2008-2012 overall increased in price during April, capping a strong spring selling season. Average segment prices saw +0.9% retention in value compared with the previous month (-0.3% depreciation in March). Domestic cars gained +2.7%; import cars gained +0.2%; domestic trucks gained +2.2%; and import trucks gained +0.5%. Average pre-recession depreciation is historically between -1% and -2% monthly, and Black…Continue
Added by John Sternal on May 8, 2014 at 8:42am — No Comments