October 10, 2013
Need to Know
INDUSTRY NEWS IN THE LAST 24

mc_connell_forrest22 New NADA Officers Officially Elected

The National Auto­mo­bile Deal­ers Association’s board of direc­tors announces it has elected For­rest McConnell, III, as chair­man for 2014.

Read more about the offi­cers elected to the top spots. [More]


NADA Front Page
gnyada_logo22 New York Dealers Pumping Billions Into the Economy

A new eco­nomic impact study indi­cates fran­chised new car deal­ers in the New York metro area are respon­si­ble for thou­sands of jobs, cars sold and an eco­nomic boost.

Get the details from the study by the Greater New York Auto­mo­bile Deal­ers Asso­ci­a­tion. [More]


PR Newswire
honda_accord_2014hybrid22 Honda Aims Hybrid Resurgence at 50 mpg Accord

Honda Motors plans a gasoline-electric lineup over­haul start­ing with a 2014 Accord Hybrid flag­ship sedan rated at 50 mpg that goes on sale Octo­ber 31.

Find out more about the Accord Hybrid and rivals from Ford and Toy­ota. [More]


Detroit Free Press
TODAY: Training and Resources from NADA University Can Make Your Dealership More Successful; Streamlining Service to Increase Profits; More 
Video news that moves people and ideas
Rogers_Mark_NADA

Measuring Success in a Changing Internet Landscape

The Internet-based sales land­scape is always chang­ing. Luck­ily, NADA offers a manager’s group to show­case Inter­net man­agers who are win­ning online.

Rogers_Mark_NADA Measuring Success in a Changing Internet Landscape
MARK ROGERS 20 Group Manager, NADA
filan-kevin Keeping Up with Online Training
KEVIN FILAN VP of Customer Marketing & Industry Relations, AutoTrader Group
ODell_Shane_NextGear Capital Driving Faster Turn Time and More Revenue
SHANE O’DELL Chief Operating Officer, NextGear Capital
VIDEO: Constantly Learning and Improving
rose-erica
  FUEL: An Online Community of Dealer Learning
 

Stay in touch with 20 Group class­mates and share impor­tant learn­ing on NADA University’s new online social community.


Click here to watch video
BLOG: Automotive Digestibles
Parker_Chuck_blog
  Nobody is Talking to Each Other: The Twelve Informational Silos of Automotive Marketing
 

As a keen daily observer, par­tic­i­pant, reporter, and pub­lisher of auto­mo­tive mar­ket­ing com­mu­ni­ca­tions & infor­ma­tion, it appeared to me ini­tially that there were at least ten infor­ma­tional silos func­tion­ing at present in the auto­mo­tive mar­ket­ing com­mu­ni­ca­tions infra­struc­ture — silos that sim­ply aren’t com­mu­ni­cat­ing with one another.

But now it appears to me that there are actu­ally as many as 12. Read on to see the list…


Click here to read more




Dealer Pain Points
BY NADA UNIVERSITY

Parts The Survivalist Parts Manager

Unless you’re a sur­vival­ist, you don’t have a year’s sup­ply of food in your house. Why tie up the money and some of the food inven­tory could spoil.

But does your parts man­ager have sur­vival­ist ten­den­cies? Is your parts depart­ment over­stocked with parts that are on the costly road to obsolescence?

Click here to learn more.

Cash Is Your Cash Stuck in “Park”?

Run­ning a deal­er­ship would be a lot eas­ier if only your cash moved as fast as the vehi­cles you sell. Some of your cash is going nowhere fast. Where is it?

Stuck in “park,” sit­ting on your used-car lot. It only takes a few wrong turns for your used-vehicle inven­tory to put a sig­nif­i­cant dent in your cash flow.

Click here to learn more.

salessuccess_1_6_2009-4_35_pm.jpg Boosting Be-Backs and Closing Ratios

Deal­ers have lived the adage, “If at first you don’t suc­ceed, try, try again.” But is your sales depart­ment giv­ing up after the first try? Some­times prac­tices and pro­ce­dures, or the lack of them, pro­duce the same result.

Man­agers and employ­ees need to know that the store’s success—and their jobs—depend on get­ting a sec­ond chance with peo­ple who didn’t buy on their first visit.

Click here to learn more.

Doing It Right  
HOW-TOs BY INDUSTRY EXPERTS

NADA ACADEMY Accept­ing Appli­ca­tions for New Classes!

DCA: Jan 6 2014, Feb 10 2014

GDM: Jan 13 2014, Feb 17 2014

ATD Truck Dealer Acad­emy: Mar 3 2014

Spe­cial Ops train­ing pro­grams allow depart­ment man­agers to attend indi­vid­ual weeks of the Acad­emy. Hone skills spe­cific to your needs in:

• Finan­cial Management

• Fixed Oper­a­tions 1 (Parts)

• Fixed Oper­a­tions 2 (Service)

• Vari­able Ops I – Dig­i­tal mar­ket­ing, inven­tory con­trol, show­room traf­fic pro­ce­dures, new– and used-car sales

• Vari­able Ops II – Pay plans; leas­ing; F&I; new– and used-car sales; hir­ing, devel­op­ing and retain­ing sales staff; expense con­trols; ROI

Go to www.nada.org/nadauniversity/academy to down­load sched­ules and appli­ca­tions for all pro­grams or call 800.557.6232 for dates and availability.

Read on for more infor­ma­tion on NADA 20 Group, Upcom­ing Webi­nars, NADA and ATD Con­ven­tion Workshops

 
Behind the Numbers  
GASOLINE PRICES

Now is a good time to be sell­ing fuel effi­cient vehi­cles – ethanol cred­its could push increased gaso­line prices – and car shop­pers would be look­ing for a solution.

It’s com­ing from ethanol cred­its that are shoot­ing up in price this year – and have become a very attrac­tive Wall Street investor mar­ket for JP Mor­gan and other finan­cial insti­tu­tions mak­ing big prof­its from the credits.

For oil com­pa­nies and refin­ers, those prices have hit hard and they say the cost has to be passed on to con­sumers through gaso­line sta­tion pump prices.

Lately it’s become a bat­tle ground for oil pro­duc­ers and automak­ers ver­sus the US Envi­ron­men­tal Pro­tec­tion Agency and ethanol pro­duc­ers over whether gaso­line should go up from 10% ethanol blend (E10) to E15.

Read more about the bat­tle going and what it could mean for gaso­line prices……




Build a Better Dealership
SMART INSIGHTS FOR SMART DEALERS

millennials_study22Meet the Millennials — Coming to a Showroom Near You!

The Sit­u­a­tion:

Mil­len­ni­als are pro­jected to be the wealth­i­est gen­er­a­tion ever, with a col­lec­tive pro­jected annual income of $3.4 tril­lion by 2018. That should be enough to entice auto­mo­tive deal­ers to want to learn all they can about the gen­er­a­tion born between 1980 and 2000 – 75 mil­lion strong – who col­lec­tively rep­re­sent major dif­fer­ences over the cur­rent crop of car buy­ers and every­one that came before them.

What Does This Mean for Dealers?

Valu­able infor­ma­tion con­tained in the study will help bring younger buy­ers into your deal­er­ship, and what’s more, it will help your sales­peo­ple sell them a suit­able vehi­cle. With­out this infor­ma­tion, you are prob­a­bly los­ing a good num­ber of sales each month.

AutoTrader.com has put together a study that explains who Mil­len­ni­als are, what they think about cars and dri­ving, how they related to auto­mo­tive brands and just about every­thing else today’s auto­mo­tive deal­er­ships need to know about these poten­tial car buy­ers. Drill down fur­ther to get this valu­able infor­ma­tion that will make the dif­fer­ence in sell­ing, or not sell­ing, to Millennials.

serviceDealer Service Advisors Initiate ROs on Walk to Customer’s Car

AutoSoft, Inc. and Dealer-FX have part­nered to offer enhanced cus­tomer ser­vice expe­ri­ence and max­i­miz­ing effi­cien­cies to deal­er­ship operations.

Ser­vice advi­sors can now build imme­di­ate cred­i­bil­ity, value and trust with every cus­tomer by pro­vid­ing wel­com­ing per­son­al­ized service.

Ser­vice advi­sors are now able to record infor­ma­tion while walk­ing a vehi­cle in the ser­vice drive using Dealer-FX’s mobile ser­vice appli­ca­tions. The data is then seam­lessly inte­grated by ini­ti­at­ing a repair order within the AutoSoft DMS. AutoSoft DMS stream­lines  paper­work and com­pletes every­thing from sched­ul­ing, report gen­er­at­ing and follow-up marketing.

Learn more about the benefits!

Smart Thinking - Pass It On  
CHRIS BAVIS OFFERS SERVICE DEPARTMENT ADVICE

At Issue:

Time and money wasted in the Ser­vice Depart­ment cost deal­ers and their deal­er­ships pre­cious dol­lars that could have been profit-makers.

The Back­story:

Unnec­es­sary steps taken in the Ser­vice Depart­ment waste time and crush finan­cial per­for­mance. Case in point: the aver­age vehi­cle repair order. Typ­i­cally, two to three hours of a repair order are wasted when techs have to hunt down parts and tools. This adds time and money to the aver­age vehi­cle repair order.

Chris Bavis, who teaches Fixed Oper­a­tions Parts at the NADA Acad­emy, wants deal­ers to under­stand the lost dol­lars that wasted time can pro­duce. Drill down fur­ther to find out what Chris sees as the sim­ple fix.

 
Big Data and the Dealership  
SIR TERRY LEAHY EXPOUNDS ON DATA INVESTMENT MANAGEMENT

The Sit­u­a­tion:

What IT peo­ple nowa­days call “Big Data” is what CEOs and lead­ers – includ­ing Dealer Man­agers – describe as Data Invest­ment Man­age­ment, and Britisher Sir Terry Leahy is con­sid­ered the God­fa­ther of Big Data. Why? Because he made it work in favor of his com­pany to increase prof­its by at least 25 percent.

What does this mean for Auto Dealerships?

With the acqui­si­tion of sophis­ti­cated soft­ware that deal­er­ships use today, an enor­mous amount of cus­tomer data is being accu­mu­lated – but it is hardly being put to use.

Sir Terry Leahy, for­mer CEO of British retail com­pany Tesco, says busi­nesses change slowly, but cus­tomers change quickly. As they change, you change. Drill down to get valu­able tips on how to uti­lize the cus­tomer data you already have to retain cus­tomers and acquire new ones.










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