Professional Community for Car Dealers, Automotive Marketers and Sales Managers
Welcome to this week’s edition of Beggs on the Used Car Market, with the latest valuation data from Black Book. Now that we have reached the fifth month of the year, unless you are in Dutch John, Utah, or some other location of 8,000 feet of elevation or higher, we are probably through with the winter type weather, finally. We may also be past the peak of spring used car activity and…Continue
Added by John Sternal on May 5, 2014 at 8:08am — No Comments
With this Women’s Wednesday we will focus on the Service Drive at your store.
Women buy a car about once every 6-7 years, but they visit the service lane several times a year. The good news? This is where on-going loyalty is developed. The not-so-great news is that 42% of women report they no longer go to the service department where they purchased their vehicle. And, you will never know it is their LAST visit, because they may smile, pay the bill, and never say a word, even…Continue
Black Book, a division of Hearst Business Media Corporation that provides new- and used-vehicle valuation services, custom data licensing solutions, as well as lender origination and risk analysis, has partnered with Chicago-based Cars.com to become the company’s official vehicle valuation service.
“Cars.com is a leader in providing consumers with the resources they need during the buying and selling process,” said Black Book’s Jared Kalfus, vice president of data licensing. “We…
Added by John Sternal on April 28, 2014 at 8:42am — No Comments
Did you know that last year, women purchased an estimated 27 million vehicles? That is the equivalent of 75,000 cars a day at new and used car dealerships. Women are now the fastest growing segment of vehicle buyers and car dealerships are taking notice. To that end, there is much more flexibility when buying a car more than ever!
It seems that women are still more reluctant than men when it comes to the advantages of leasing a car. With the car industry back on its feet…Continue
Added by Anne Fleming on April 24, 2014 at 7:00pm — No Comments
A recently released white paper based on a collaborative study between Cars.com and GFK, reported that consumers are leaving dealership service in favor of independents due to a…Continue
Added by Richard Holland on April 24, 2014 at 5:00am — No Comments
Apple’s recent announcement of CarPlay which will integrate the iPhone, Apple maps and Siri into the car dashboard, is a move meant to compete directly with Google’s Open Automotive Alliance (OAA), and Microsoft’s Sync platform. This means big changes are in store for how shoppers driving, commuting and traveling by car will find and learn about your business.
The fast moving map space plus local-search is attractive areas for innovation for software developers. One of the more…Continue
Added by Anne Fleming on April 21, 2014 at 7:42pm — No Comments
Hello and welcome to this week’s edition of Beggs on the Used Car Market, with used car pricing data from Ricky Beggs and Black Book. Just when most all parts of the country thought winter was gone and pollen from the budding trees was the dominate particles in the air, we hopefully had the final blast of winter weather that swept across the Midwest and actually left Detroit enough of the white fluffy flakes to set an all-time record level of snow for the winter season.
As the Black…
Added by John Sternal on April 21, 2014 at 7:41am — No Comments
Dealers who “get it” know that the key distinction in optimizing sales to women is having exceptional sales advisors who offer exceptional service. But what does…Continue
Hello and welcome to this week’s edition of Beggs on the Used Car Market with used car valuation data trends from Black Book and Ricky Beggs. We trust the market has been good to each and every one of you as a buyer, a seller or a player in the lending side of the business. As I stood on the lanes this week I truly appreciate the comments that were made about the market strength, how some vehicles are identified and listed within the guides, and even the effects that actual VIN decoding…Continue
Added by John Sternal on April 14, 2014 at 7:55am — No Comments
According to Black Book® data, used vehicles model years 2008-2012 overall depreciated -0.3% in March, showing continued strength in seasonal retention compared to the -1.1% rate in February. Domestic cars gained in value by +0.7%; import cars depreciated -0.6%; domestic trucks gained in value by +0.6%; and import trucks depreciated -0.8%. Average pre-recession depreciation is historically between -1% and -2% monthly, and Black Book expects overall 2014 depreciation of -13.5%.
Hello and welcome to this week’s edition of Beggs on the Used Car Market, with the latest vehicle valuation data from Ricky Beggs and Black Book. We trust you have had a good week on the retail lots, in the auction lanes and airwaves and within the finance offices.
For those of you who have commented over the past several weeks that you expect the market to…
Added by John Sternal on April 7, 2014 at 8:22am — No Comments
Welcome to Women Wednesdays!
Have you ever walked into a store or visited their website and seen an award that says “Voted #1 in 2010”?
Doesn’t that beg the question and make you wonder what happened since then; who has won it this year?
This situation can be likened to when car dealers have a lapse in (getting) consumers reviews on dealer review sites
– like Google, Yelp, Dealer Rater, Women-Drivers.com etc. On our site, we have some dealers with…Continue
Added by Anne Fleming on April 2, 2014 at 4:14pm — No Comments
With reports of the “sellers are happy” and “it’s a sellers’ market”, the results of the weekly market changes were bound to show continued strength. The only question remaining was just how strong it would actually be after a full week of auction activity. Welcome back to this week’s Used Car Market Report with insights from Ricky Beggs from Black Book.
As I reviewed the…
Added by John Sternal on March 31, 2014 at 7:59am — No Comments
Hello and welcome to this week’s edition of Used Car Market from Black Book. And by springtime, not just because the calendar says we have reached that point in the year, but after talking with a couple of industry folks in Detroit, the DC area and even from two mid-west states, there was a freshness in their voices due to no…Continue
Added by Manny Luna on March 30, 2014 at 12:30am — No Comments
Hatchbacks are pretty versatile vehicles – they are affordable, you have relatively powerful options, they have decent mileage and they are great for getting around the city. It’s no wonder that they are a popular option amongst young people looking for the most bang for their buck and a way to keep future expenses to a minimum. There are plenty of choices, but there are some things you need to consider when looking a good, affordable hatchback that will suit your needs.…Continue
Added by Kerry Blake on March 27, 2014 at 5:00am — No Comments
Much has been said about using social media for businesses, but it seems like most information is aimed towards the typical small retail business or service provider. Too many dealers seem to ignore basic tips or strategies to leverage social media for the benefit of the dealership. To help solve this problem, here's a quick and easy guide to getting started with social media.
Hello and welcome to this week’s edition of Beggs on the Used Car Market from Black Book. And by springtime, not just because the calendar says we have reached that point in the year, but after talking with a couple of industry folks in Detroit, the DC area and even from two mid-west states, there was a freshness in their voices due to no snow in the air or on the ground, with some sunny…Continue
Added by John Sternal on March 24, 2014 at 8:58am — No Comments
Welcome to Women’s Wednesday. When women perceive they are not treated the way they expect at car dealerships, 65% leave and do not return. That’s a lot of business walking out the door and buying down the street. What can your dealership do to turn more browsers into buyers? We compile a lot of data from dealer reviews, and below are the top three reasons women buy from the dealership they do.
1.Treatment by Sales Person
How well women are treated is the…Continue
Swapalease.com, the nation’s largest car lease marketplace, reports lease credit approvals during the month of February were at 66.6%, down from the 70.5% level in January and 73.3% level in December of 2013. February’s rate was the lowest since September of 2013, when the marketplace saw just 62.9% approvals from credit applicants. So far in 2014 the credit approvals rate stands at 68.3%, close to the level Swapalease.com considers “healthy” at 70.0%. Over the last twelve months, the credit…Continue
Added by John Sternal on March 18, 2014 at 1:20pm — No Comments
Whether it’s the film industry or the auto industry, the shift in lead roles is hard to miss. The 2014 Oscars that took place a couple of weeks ago was truly a revelation of the changing gender role trends in films. More than one film nomination had strong female leads, enjoying almost all the air time as opposed to…Continue
Added by Anne Fleming on March 18, 2014 at 9:18am — No Comments