Professional Community for Car Dealers, Automotive Marketers and Sales Managers
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
Whether you are a football fan or not, unless you have been living in a cave you have probably heard a lot about Johnny Manziel and Tim Tebow. What Tebow and Manziel have in common is that both are former Heisman Trophy winning college quarterbacks. What they both also have in common is that they are both very much hated and reviled by so many.
From the outside looking in, they are polar opposites in many ways. Tebow is publicly very religious and Manziel is not. Tebow is…Continue
Added by Mark Tewart on May 7, 2014 at 9:22am — No Comments
Getting a car has become a normal part or phase of a person’s life, and everyone goes through the stage of wanting or needing their own car. A lot of people, however, can get taken aback by everything they have to go through just to get a car. The procedure can be messy, with all the visits to car dealers, and choosing and deciding, and paperwork. It can get even messier when a person gets intimidated and pushed into making a deal he doesn't really want to get into in the first place. Other…Continue
Added by Kerry Blake on May 7, 2014 at 3:30am — No Comments
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%.