October 25, 2013
Need to Know
INDUSTRY NEWS IN THE LAST 24

lithia_motors22 Lithia 3rd Quarter Shows Increased Dealer Profitability

Lithia Motors’ high­est quar­terly adjusted net income is based on new and used sales, ser­vice and parts per­for­mance as deal­ers focus on local geo­graph­i­cal areas.

Find out more about the com­po­nents in Lithia’s third quar­ter report. [More]


Market Wired
hyundai_hydrogen_fuel_cell22 Hydrogen Car from Hyundai Coming Next Year

Hyundai Motor Group is bet­ting heav­ily on the world’s light­est gas – with sales of its new hydro­gen fuel-cell vehi­cle set to begin in the U.S. early next year.

Find out more about Hyundai’s U.S. hydro­gen fuel cell ven­ture. [More]


The Detroit Bureau
jeep_cherokee22 At Last, 2014 Jeep Cherokees Are Shipping to Dealers

Chrysler has started ship­ping the first 2014 Jeep Chero­kees to deal­ers, after a 2-month delay, after work­ing up a fix for the “incred­i­bly elab­o­rate soft­ware system.”

Find out more about the lat­est Chero­kees with a nine-speed trans­mis­sion. [More]


Detroit Free Press
south-park

BLOG: Green Auto Market

While it has taken a while for the cre­ative team at “South Park” to slap around the Model S, the plug-in car did get a few moments on screen. Tesla Motors joins the ranks of Sci­en­tol­ogy and the Toy­ota Prius in get­ting lam­pooned… How CTDI is able to sal­vage and “reman­u­fac­ture” more than 90% of a vehicle’s elec­tron­ics parts and com­po­nents… Octo­ber 17th saw the 40th anniver­sary of the OPEC oil embargo. Here’s what remem­ber­ing the ini­tial embargo seems to mean today…

VIDEO: Service and Customer Retention
manson-gregg
  Be Like Corvette, Not a Chevette
 

Here are three solid rec­om­men­da­tions about how your ser­vice depart­ment can make the OEM buzz word “cus­tomer reten­tion” actu­ally turn out to be “cus­tomer repur­chase intention.”


Click here to watch video
VIDEO: Good Times for Pickup Leads
Gutierrez_Alec_KBB field trip
  Pickup Truck Demand Way Up
 

KBB’s Alec Gutier­rez says….

1. New pickup truck sales are up 20% to 25% depend­ing on model and year.
2. As new home con­struc­tion picks up, we see shop­pers jump into pick­ups.
3. Used truck val­ues at auc­tions also show a lot of strength.

Hear what Alec Gutier­rez says about which spe­cific mod­els are see­ing the most strength…..


Click here to watch video




Dealer Pain Points
BY NADA UNIVERSITY

Dollars and cents of nuts and bolts The Dollars and Cents of Nuts and Bolts

A highly prof­itable ser­vice depart­ment saved more than a few deal­ers dur­ing the eco­nomic down­turn. Once con­sid­ered the back end of the business,it’s now the back­bone of a deal­er­ship. But just as impor­tant as increas­ing ser­vice rev­enue, is keep­ing a lid on expenses.

Click here to learn more.

Service center Why You Should Close Your Back Parts Counter

Shut­ting down your back parts counter may sound dras­tic but some deal­ers have done it with good results. They include more effi­cient — and prof­itable — parts and ser­vice departments.

Click here to watch the video and learn more.

Reputation online Is Your Reputation Getting Hammered Online?

Rep­u­ta­tion. It takes years and untold amounts of money to build a solid rep­u­ta­tion. But only sec­onds to lose it on the Internet.Brand dam­age usu­ally refers to a prod­uct in cri­sis. But in the case of deal­er­ships, the brand is the dealer’s name.

Click to see a video that describes some of the chal­lenges and solutions.

Doing It Right  
HOW-TOs BY INDUSTRY EXPERTS

The data from a recent sur­vey has revealed that spend­ing is increas­ing rapidly over smart­phones and tablets.

Accord­ing to the results of a recent study, con­sumers con­tinue to love every­thing about their mobile devices and are using them on an increas­ing basis as a part of their over­all shop­ping expe­ri­ences through mobile commerce.

Con­sumers are using their smart­phones to help them to inter­act with their favorite retailers.

A mobile com­merce report revealed  that 55 per­cent of all time spent online on retail had orig­i­nated from a smart­phone device, com­pared with only 45 per­cent stem­ming from a desk­top or lap­top device.

In June 2013, mobile com­merce from smart­phones made up 44 per­cent of the time spent on retailer sites.

Read on ….

 
Behind the Numbers  
USED VEHICLE VALUES

CNW Research Pres­i­dent Art Spinella has a few more provoca­tive points to make – new vehi­cle lease resid­ual value fore­casts are being over­val­ued 5% to 10%. This is being done to get monthly pay­ments lower and beat com­peti­tors in new vehi­cle sales.

Spinella is also fea­tured in a video inter­view with even more provoca­tive things to say. Here he takes apart the usual fore­cast num­bers being placed on new vehi­cles – month-over-month and year-over-year have less mean­ing these days, he says. Sea­sonal adjust­ments aren’t as real as incen­tive adjustments.

Other remar­ket­ing ana­lysts appear to be dis­agree­ing with CNW Research’s warn­ing about leas­ing being in trou­ble; one of them being Craig Car­row of Fis­erv, who’s fea­tured in a Skype video interview.

In the weekly mar­ket report from Black Book, Edi­to­r­ial Direc­tor Ricky Beggs reported that declin­ing gaso­line prices are start­ing to show their usual effect on soft­en­ing prices com­ing to fuel-efficient vehicles.

Find out more about what used vehi­cle mar­ket indi­ca­tors are look­ing like this week…….




Build a Better Dealership
SMART INSIGHTS FOR SMART DEALERS

Used car sales profitsWhere Are Used Car Prices Headed and What Does that Mean for Dealer Profits?

Used car prices have been fluc­tu­at­ing this year in whole­sale and retail trans­ac­tions. Sky­rock­et­ing prices that occurred in the first half of 2011 have been bob­bing up and down since that time.

What are the fore­casts for the rest of this year, along with other met­rics that shape remar­ket­ing profits?

Sup­ply is increas­ing, and there’s debate over whether that means prices will be strength­ened or weak­ened. Sup­ply growth is com­ing from off-lease vehi­cles, rental return, com­mer­cial fleet lease, and more aggres­sive lending.

There’s dif­fer­ing fore­casts com­ing from remar­ket­ing experts.

Here’s what expert are say­ing, along with a few trends to track as the year progresses…..

dos and dontsCombating the Top Mistakes of Automotive Marketing

Sit­u­a­tion:

Con­sumer behav­ior and the pur­chase process have intro­duced changes to auto­mo­tive mar­ket­ing and media attri­bu­tion, but deal­er­ships are look­ing at old met­rics in old ways, accord­ing to Cars.com.

Fol­low­ing these 7 “dig­i­tal sins” could mean a dealer is wast­ing media dol­lars and elim­i­nat­ing adver­tis­ing options that could help influ­ence shoppers.

Solu­tion:

Cars.com aims to posi­tion deal­ers to reach the right audi­ence, build aware­ness, drive con­sid­er­a­tion and ulti­mately improve con­ver­sion rates.

Cars.com Train­ers, Ed Woelfle and Jack Sim­mons, work together to high­light seven com­mon mea­sure­ment chal­lenges, and pro­vide tips to align processes and media buy­ing deci­sions with the behav­iors of today’s car shop­per in a webi­nar titled “The Seven Dig­i­tal Sins of Attri­bu­tion”.

Webi­nar reg­is­tra­tion is free. Read on!

Smart Thinking - Pass It On  
Xtime Introduces its Latest Scheduling System for Dealers

The Sit­u­a­tion:

Your cus­tomers want easy, secure access to your Ser­vice Depart­ment wher­ever they are. Your cus­tomers can now have access to a mod­ern, sophis­ti­cated dig­i­tal inter­face through­out the entire life­cy­cle of vehi­cle own­er­ship. Xtime has intro­duced two new com­po­nents to its sched­ul­ing sys­tem to meet the expec­ta­tions of even the most demand­ing among your cus­tomer base.

“Every aspect of the Xtime con­sumer expe­ri­ence is now state-of-the-art, which enables our deal­ers and man­u­fac­tur­ers to meet the expec­ta­tions of their increas­ingly demand­ing cus­tomer base,” says Neal East, CEO of Xtime.

How is that pos­si­ble? You’re About to Find out!

Deal­ers, if you give your ser­vice cus­tomers a visu­ally appeal­ing, trans­par­ent and con­ve­nient path to buy­ing ser­vice, you will max­i­mize the chance of retain­ing them. Drill down fur­ther to find out what Xtime offers deal­ers to increase ser­vice reten­tion an aver­age of 5 percent.

 
Stopping Auto Theft  
Dealers Can Get Training and Support

The Sit­u­a­tion:

Accord­ing to the FBI Uni­form Crime Report – 2012 – auto theft con­tin­ues to rise – notably in states such as Cal­i­for­nia, where some areas have seen an increase in motor theft up to 60%. The increase is being felt at auto deal­er­ships across the coun­try who are begin­ning to real­ize they need help in pro­tect­ing their inventory.

Motor vehi­cle theft is top­ping the charts as the #1 prop­erty crime in the U.S.

Now is the time to start think­ing about ways to pro­tect your deal­er­ship inven­tory from a vari­ety of ways in which thieves tar­get your deal­er­ship. Drill down fur­ther to learn more about what deal­er­ship auto theft looks like and how is can be prevented.










Dealer Resources 
Autobytel
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DealerRater.com
Helping dealers manage their reputation.
OneCommand
OneCommand deploys leading-edge communications technology proven to increase response rates, drive traffic, and lower marketing costs.
AutoTrader.com
Partnering with AutoTrader.com alone gives your inventory unparalleled online exposure.
Fiserv
Fiserv offerings address every step of the automotive lending process.
Thrifty Car Sales
Find out what Thrifty Car Sales Franchise Opportunities can do for you.
AutoUSA
AutoUSA Internet Sales Solutions brings the best-in-class tools to increase Internet sales and lower costs for automotive dealerships.
IMN
IMN is the digital marketing company that delivers branded newsletters and content for more than 3,000 organizations worldwide, combining custom, vertically-oriented content with advanced publishing technology and services.
vAuto
vAuto's Provision™ suite of inventory management tools is the auto industry's leading solution to help dealers increase used vehicle sales, profitability and return on investment.
Dealer.com
Turn-key automotive Internet marketing on one platform.
NADA University
One Source, Endless Possibilities, 24/7.






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