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Power Minute #1: After A Record Sales Year, What's Ahead in 2016?

We can all appreciate the record automotive sales year that 2015 brought with it. But, what's ahead for the auto retail industry in 2016?

Watch this brief "Power Minute" video to gain a quick look at the December 2015 sales report and what’s projected for February.

Video transcript:

Today, we’ll be taking a quick look at the December 2015 sales report and what’s projected for February.

Happy to report: December marked the best-ever retail sales month with total sales up 136K to 1.64M. Though sales growth was off the charts, the month’s reported SAAR of 17.3M was not so great.

3 conditions drove this record sales performance:

  • High incentive spends
  • Increased pickup, SUV, van sales
  • More consumers returning to market, particularly as their leases expire

So to close this month strong, what do you need to know?

  • January will produce the lowest retail sales of the year
  • Large pickup sales will experience typical seasonal month-over-month declines
  • Luxury sales will also experience steep seasonal declines as holiday marketing and incentive programs conclude

To learn more about what your dealership can do to begin 2016 strong, please visit mypowerdealer.com. Thanks for watching, stay tuned for the next edition of “Power Minute”!

 

Brought to you by:

Visit MyPowerDealer.com to learn more about PowerDealer: a FREE Web-based dealer management software that provides access to 100% pure retail transaction data, based on more than 117 million new and used vehicle sales, enabling a meaningful comparison of an automotive market dealership’s performance against their local market.

It’s simple: When dealers use the data that tells a clear story, they drive better business results for their new-vehicles, used car inventory, and F and I departments.

Dealers enrolled in PIN have access to a full suite of dealer-specific and market-comparison reports designed by J.D. Power, and also receive a complimentary subscription to the company’s Powergram automotive newsletter.
 

PIN retail solutions include PowerDealer New and Used Vehicle Sales Tools:

  • Used-Vehicle Inventory Tools — The Used-Vehicle Booking Tool and Guidebook Pricing allow dealers to improve inventory mix by providing model-level ROI performance, along with pricing and market demand metrics. These tools assist in identifying the most desirable models for a given market, in terms of ROI, turn rates, and pricing.
        
  • Customer Mapping and Zip Code Tools — These tools allow dealers to benchmark marketing program effectiveness by identifying their customers on Google maps or comparing sales across selected ZIP codes and time periods.
      
  • New/Used Average Deal Recap Report — Identifies performance gaps versus the market on deal structures and highlights areas where adjustments may be made to improve volume and profitability.
      
  • New-Vehicle Inventory Performance Report — Provides performance by model line for each franchise the dealership sells, compared with other PIN dealers in the market area carrying the same franchise. This information improves the ability to identify stocking options by monitoring inventory movement and gross potential.
       
  • New/Used Finance/Leasing Report — Allows retailers to identify lender options, buy rates, and term structures of lenders in their geographic market.
     
  • New-Vehicle Franchise Performance — A PIN exclusive report that identifies franchise performance across nameplates in the dealer’s marketplace, as well as key components of deal structure, select back-end sales, finance reserve, warranty penetration, price, and income.
     

PowerDealer Fixed Operations Tool

  • Service Key Performance Indicators — Provides a quick snapshot of current business, customized to present user-defined goals across a number of KPIs.
  • Summary Scorecards and Employee Performance Reports — A performance based system that provides service managers the ability to track each staff member’s sales data and identifies which maintenance sales items are being sold and which ones are not. The detailed, individual, printable scorecards provide managers with information necessary to motivate high performers who are already achieving desired results as well as coach and develop low performers.

See more at: www.jdpower.com/data-and-analytics/automotive-retail-solutions

Views: 223

Tags: J.D. Power, PowerDealer, automotive, dealer, forecast, retail, sales

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Comment by Bernardo56 on January 29, 2016 at 12:33am

Maybe we can add embrace an omnichannel strategy

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