Professional Community for Car Dealers, Automotive Marketers and Sales Managers
Do you believe in luck? Do you consider yourself a lucky person or are you waiting for your ship to come in? There is a difference between luck and randomness. You should create your own luck and remove the randomness of your results.
Recently, I conducted a sales meeting for a business. Before I gave the meeting, I entered the meeting area before the sales team arrived and I taped a $20 bill to the bottom of a chair. During the meeting, I asked everyone to stand up…Continue
Added by Mark Tewart on February 11, 2014 at 8:30am — No Comments
Hello and welcome to this week’s edition of Beggs on the Used Car Market, the very latest used car market data provided by Black Book and Ricky Beggs. Well, at least in the southeastern United…Continue
Added by John Sternal on February 10, 2014 at 12:20pm — No Comments
Recently, I conducted one of my sales seminars where I spoke about ideas that center around the following skill sets — sales, people, life and marketing. Some of the attendees at the program had been to three, four or more of my seminars in the past. In listening to the results of many of the repeat attendees, it struck me like lightening what the most important word I heard over and over in their successes: action.
In a series of recent sales meetings, I explained a…Continue
Added by Mark Tewart on February 10, 2014 at 8:30am — No Comments
What business are you in? “The car business” would probably be your normal answer. I would invite you look deeper into that question. Rarely, is your first answer to that question your most accurate answer. The majority of businesses fail, or fail to reach their potential, because the owner and managers haven’t figured out the most important and most basic question: “What business are we in?”
Saying you are in the car business seems logical. However, that answer does not stir…Continue
Added by Mark Tewart on February 7, 2014 at 8:30am — No Comments
On November 19, 2005, a day after having surgery, I was diagnosed with squamous cell carcinoma cancer. I would compare receiving the news to going to the dentist and being numbed. However, this numbed my whole body. For 20 minutes I rushed through all kinds of thoughts and emotions – shock, anger, “why me?” questions, sadness.
After the 20 minutes, I made a big decision. I decided to live. I decided that all of the emotions and thoughts I was experiencing were not supporting…Continue
Added by Mark Tewart on February 6, 2014 at 8:30am — No Comments
Swapalease.com, the nation’s largest car lease marketplace, reports that the average monthly payment for a car lease on the road today is $572.42, down from an average of $590.38 back in August. Monthly payments on leases have continued to decline stemming from aggressive lease deals and increased incentives offered on leases since 2012.
Compared with year-ago payments, the Chevrolet Cruze has declined the most among the most popular lease vehicles. The average monthly payment for…
Added by John Sternal on February 5, 2014 at 10:44am — No Comments
When you have a first encounter with a customer, they are usually wondering one simple question. Can I trust you?
There are three stages of buying:
1. Character and Trust
I don’t know that one stage is more important than the other but I do know that the trust stage usually happens first. When you build a house and the foundation is weak, no matter how nice a house you build it comes…Continue
Added by Mark Tewart on February 5, 2014 at 8:47am — No Comments
Swapalease.com, the nation’s largest car lease marketplace, says its customers are escaping their car leases at a new record pace. According to data from December 2013 listings, the average months remaining on cars listed during the month was 22.1, a new record for the 14-year-old marketplace. The previous record was 21.8 months remaining, set back in August 2006 and prior to the recession.
With average lease terms still set at 36 months,…
Here is the latest Used Car Market Report from Ricky Beggs and Black Book. I knew it was going to be a great week when a couple of dealers from Ohio, that were on the same flight and whom I did not know, but who watch this video market blog every week, had one of the flight attendants come to my seat and start asking questions about Black Book. I thought this a little strange but like I tell…Continue
Added by John Sternal on January 29, 2014 at 6:12am — No Comments
This years NADA was definitely one for the books. Taking place in one of the best cities in America, New Orleans, LA. The times to be had were extremely fun and the information we gathered on the auto industry was insightfully eye opening.
The convention center was like a massive maze of everything auto with our friends being scattered…Continue
Added by Josh Knutson on January 28, 2014 at 7:39am — No Comments
I had a new salesperson in a dealership call me and the main thing that we talked about was how training was nonexistent at the dealership that he worked at. It reminded me of how years ago when I joined the automotive industry I was sat in a room with four other people and the sales manager told us…Continue
Added by J.R. Batchelor on January 22, 2014 at 6:32pm — No Comments
2013 was dubbed the "Year Of The Lease", which means 2014 might be known for the "Year Of The Lease Pull Ahead". What is a lease pull ahead program and how might it impact the automotive industry?
Scot Hall, Executive Vice President of Swapalease.com, offers the following insight.
Lease pull ahead programs are used by manufacturers and dealers to entice lease drivers into turning in their leases early in order to “re-lease” another vehicle. It’s a forgiveness opportunity on…
Added by John Sternal on January 22, 2014 at 5:53am — No Comments
Here is the latest used car market valuation report from Ricky Beggs and Black Book. The New Year is now in full swing. A non-SEC team has finally been named college football’s national champion. Now we are just a couple of…Continue
Added by John Sternal on January 20, 2014 at 1:33pm — No Comments
According to Black Book data, used vehicles model years 2008-2012 overall depreciated -1.4% in December, slightly better retention compared to the -1.7% rate in November. Domestic cars depreciated -1.6%; import cars were -1.3%; domestic trucks were -2.0%; and import trucks were -1.0%. Average pre-recession depreciation is historically between -1% and -2% monthly.
Added by John Sternal on January 16, 2014 at 8:28am — No Comments
Swapalease.com, the nation’s largest car lease marketplace, reports lease credit approvals were up slightly in December (73.3%) compared with November levels (70%). The overall approvals rate on the year finished at 72.7%, compared with a 2012 rate of 65.3%.
Holiday lease shopping from a higher population of well-qualified…
Added by John Sternal on January 14, 2014 at 7:36am — No Comments
Its that time of year again, when we all gather in the largest building NADA find and consume everything auto. As we approach one of the biggest conferences of the year we take a look at what to expect.
Technology has the pedal to…Continue
Added by Josh Knutson on January 14, 2014 at 7:00am — No Comments
Hello and welcome to this week’s Beggs on the Used Car Market Report from Ricky Beggs of Black Book. Although this is the second Monday of 2014, this is the first current market focused report for 2014. For those of you who tuned…Continue
Added by John Sternal on January 13, 2014 at 10:55am — No Comments
Mobile has gained some major horsepower in the automotive industry in 2013, and with technology continually expanding at rapid rates, 2014 is sure to be one for the…Continue
Added by Josh Knutson on January 8, 2014 at 6:30am — No Comments
Added by John Sternal on January 2, 2014 at 8:25am — No Comments
1. Sales wise 2013 seemed like a strong comeback year for the industry. What activities or trends do you think helped dealers this year?
This year has been great and the auto industry will probably finish with an annualized selling rate of close to 16…Continue
Added by Phil DuPree on January 1, 2014 at 12:00pm — No Comments