October 2, 2013
Need to Know
INDUSTRY NEWS IN THE LAST 24

chrysler_group_llc22 Chrysler Posts Slight Gain in September Sales

While ana­lysts are pre­dict­ing an indus­try sales slip for Sep­tem­ber, Chrysler Group LLC posts a slight increase for the month, con­tin­u­ing its win­ning streak for 42 months, best Sep­tem­ber since 2007.

Get the facts and fig­ures as reported for Chrysler Group Sep­tem­ber sales. [More]


Bloomberg News
ford_china_sales22 Ford Posts Best September Since 2006

Ford Motor Com­pany reports its Sep­tem­ber auto sales and marks the 11th con­sec­u­tive month of year-over-year sales increases, with the Fusion, Fiesta, F-Series and Lin­coln all doing well.

Get the details on Ford’s Sep­tem­ber 2013 auto sales fig­ures. [More]


PR Newswire
cfpb_logo22 Dealers Receive Warning Letter from Auto Lenders

Some auto deal­ers are report­ing they received a warn­ing let­ter from their auto lenders con­cern­ing pos­si­ble dis­crim­i­na­tion prac­tices against minori­ties dur­ing the loan process.

There are many view­points on the rea­son and effi­cacy of these let­ters. [More]


Automotive News
TODAY: Spinella Thinks Incentives Will Drag Down Resale Values; Successful Service Departments Focus on Essentials; More 
Video news that moves people and ideas
Spinella_Art_site visit

Wish Lists: Tapping Into What Car Shoppers Want

Auto indus­try ana­lysts and fore­cast­ers tend to only look at the auto mar­ket, but that “wish list” needs to expand for a broad look at what con­sumers care about.

Spinella_Art_site visit Wish Lists: Tapping Into What Car Shoppers Want
ART SPINELLA President, CNW Research
filan-kevin Big Data Tells a Simple Story
KEVIN FILAN VP, Customer Marketing & Industry Relations, AutoTrader Group
heather-mackinnon-skype Service Reviews: An Opportunity for Growth
HEATHER MACKINNON VP of National Accounts, DealerRater
VIDEO: The Auto Industry Today
williams-mike
  The Industry is Moving Fast — With Good and Bad Results
 

Both con­sumer and deal­ers have a lot of infor­ma­tion at their fin­ger­tips and are mov­ing fast. This cre­ates a volatile sit­u­a­tion that’s chock-full of advan­tages and disadvantages.


Click here to watch video
BLOG: Automotive Digestibles
chucksBlog
  Another Brake Shoe About to Drop? Car Part Makers Nailed for Price Fixing
 

The Shock­ing Sit­u­a­tion: So far, nine Japan­ese car parts man­u­fac­tur­ers have been hit by the U.S. Depart­ment of Jus­tice with fines total­ing $740 Mil­lion for price fix­ing. That’s in addi­tion to 20 com­pa­nies that have been fined $1.6B — and so far 17 exec­u­tives have gone to jail.

So … What parts went to what OEM?


Click here to read more




Dealer Pain Points
BY NADA UNIVERSITY

50-Person-with-Hamburger Time Wasters That Kill Service Profits

Do you put the ketchup on a burger before you cook it? Of course not. There’s a sequence to prepar­ing the burger and adding the fix­ings. Ser­vice and parts depart­ments have their own sequence but some are out of whack. And when that hap­pens it eats into the store’s profitability.

Watch this video and we’ll show you how improve pro­duc­tiv­ity and prof­its with advice on how to ensure you’re struc­tured for success.

Service-Department-Wide-Shot-1024x576 Mismanaging Workflow Hurts Bottom Line

To the aver­age con­sumer, one ser­vice tech is the same as another. Savvy ser­vice man­agers know bet­ter and uti­lize per­son­nel to pro­duc­tively man­age a work­flow that requires dif­fer­ent tal­ent and skill levels.

The chal­lenge for ser­vice man­agers is sim­i­lar to one fac­ing coaches of sports teams: putting the right play­ers on the field and in the right posi­tions to succeed.

Click here to learn more.

Tech-working-on-car-1024x576 Used Car Manager Headache: Waiting for Reconditioning

Why do some deal­er­ships ignore their deal­ers’ invest­ments? Trade-ins sit and sit, wait­ing to be reconditioned.

The used-car man­ager, who needs those vehi­cles ready for retail because he’s des­per­ate for inven­tory, just can’t seem to get anyone’s attention.

What’s the solution?

You’ll find a few when you watch this video.

Doing It Right  
HOW-TOs BY INDUSTRY EXPERTS

An increas­ing num­ber of busi­nesses embrace social media at con­fer­ences and tradeshows. Out­lets such as Face­book, Twit­ter, and Google+ can help make the most of the expe­ri­ence, hit­ting each of what should be your three main targets:

• Pro­mot­ing your brand

• Meet­ing exist­ing and prospec­tive customers

• Hav­ing fun

That last point may seem triv­ial, but tak­ing along your more socia­ble and out­go­ing team mem­bers will add value to the expe­ri­ence, as well as giv­ing staff a change of scenery and a new and diverse set of chal­lenges to meet.

Con­fer­ences are where up-to-the-second media such as Twit­ter come into their own, help­ing make the phys­i­cal event vir­tual, and bring­ing some­thing very local­ized to a wider—and poten­tially global—audience.

Keep read­ing for six tips to make your social media efforts successful.

 
Behind the Numbers  
USED VEHICLE VALUES

CNW Research Pres­i­dent Art Spinella sees new vehi­cle incen­tives com­ing back up that will even­tu­ally hit used vehi­cle val­ues as automak­ers com­pete to increase their mar­ket share.

In a recent video inter­view, Spinella points to Ford putting up to about $12,000 on the F-Series pickup – with about two thirds com­ing from man­u­fac­turer cash back and the other third com­ing from dealer and regional incetives.

Deal­ers are in a posi­tion where they have to dis­count more and give more on trade-ins to close deals, he said.

Other remar­ket­ing experts appear to dis­agree with Spinella’s warning.

Tom Kon­tos and NADA Used Car Guide saw incen­tive spend­ing drop in August and so far haven’t issued warn­ings on incen­tives spend.

Per­haps there’s a dif­fer­ence in how CNW Research and Auto­data define and track incen­tives? Read on for more………..




Build a Better Dealership
SMART INSIGHTS FOR SMART DEALERS

car_woo_capture_leads22Would You Like a Leg Up on Closing More Online Leads?

The Sit­u­a­tion:

Chal­lenged by a highly com­pet­i­tive mar­ket in 2012, Volk­swa­gen of Down­town LA was look­ing for ways to cap­ture more of the mar­ket share of online customers.

Look­ing for a Solution:

As part of its plan to aggres­sively con­quest Inter­net buy­ers, the deal­er­ship brought vet­eran Inter­net Sales Direc­tor Dave Erick­son on board.

Luck­ily for Volk­swa­gen of Down­town LA, their newly-hired Inter­net Sales Direc­tor knew exactly what to do! There isn’t a deal­er­ship in the world that can’t use more sales per month, so it’s a given that your dealer man­ager will take the time to drill down fur­ther and find out what one deal­er­ship did to increase sales imme­di­ately and consistently.

ReviewsThe Importance of Service Reviews

As one of the busiest areas in the deal­er­ship, it can be chal­leng­ing to fit ser­vice reviews into the daily processes of the ser­vice depart­ment. How­ever, when done cor­rectly, it can pay big div­i­dends – in one dealership’s case a 50 per­cent increase in ser­vice traf­fic and profit.

One dealer that has tack­led this prob­lem head on, Bozard Ford Lin­coln, of St. Augus­tine, FL  started a rep­u­ta­tion man­age­ment pro­gram approx­i­mately three years ago and now has built over 1,000 reviews. In that time the deal­er­ship has boosted sales from under 100 to 317 vehi­cles per month; and ser­vice has enjoyed a 50 per­cent RO count increase.

Jeff King, Gen­eral Manager/VP with Bozard Ford Lin­coln sees a clear cor­re­la­tion between online reviews and sales and ser­vice busi­ness.

Keep read­ing for his sug­gested best prac­tice tips!

Smart Thinking - Pass It On  
AUTOMAKERS AND THE MOBILITY MIX

At Issue:

Although con­sumers will con­tinue to include personally-owned vehi­cles in their mobil­ity mix, more are also turn­ing to dif­fer­ent modes of trans­porta­tion. How­ever, given their role in dri­ving the econ­omy, automak­ers can be among the lead­ers in estab­lish­ing new mobil­ity busi­ness mod­els. Automak­ers have a unique win­dow of oppor­tu­nity to estab­lish them­selves as providers of mobil­ity solu­tions and cement their posi­tion in this emerg­ing marketplace.

“Every­one must change their prod­uct mix; OEMs ignor­ing this will not be able to stay in the mar­ket over the long run.” [Euro­pean OEM]

The IBM Insti­tute for Busi­ness Value has con­ducted a study by inter­view­ing auto­mo­tive exec­u­tives around the world. Drill down fur­ther for high­lights from the results of this study as it affects automak­ers and their dealers.

 
Building a Better Service Department  
LANCE BOLDT OFFERS ADVICE ON BUILDING RAPPORT AND TRUST

At Issue:

Suc­cess in the Ser­vice Depart­ment of an auto­mo­tive deal­er­ship cen­ters around the inter­face between you and your cus­tomer. In the process, there are 6 ele­ments that must be con­sid­ered essen­tial to sat­is­fy­ing your cus­tomers and assur­ing they will return time and again.

What Ele­ments Make Up a Suc­cess­ful Cus­tomer Interaction?

Lance Boldt, Vice Pres­i­dent and Co-Founder of AutoNetTV Media, Inc., brings together impor­tant ele­ments to pull together to make your Ser­vice Depart­ment cus­tomer friendly. Drill down fur­ther to put these ideas to work in your deal­er­ship Ser­vice Depart­ment today!










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NextGear Capital
We are the largest independent inventory finance provider for used automobiles providing inventory financing to dealership operations in the areas of Retail, Wholesale, Rental, and Salvage.






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