October 16, 2013
Need to Know
INDUSTRY NEWS IN THE LAST 24

krafcik_john22 Government Shutdown Sure to Affect Auto Sales

Automak­ers are hop­ing the gov­ern­ment shut­down will end soon, as some are report­ing a decline in sales dur­ing Octo­ber due to the stand­off in Washington.

Find out what Hyundai Motor U.S. sales unit CEO John Kraf­cik has to say. [More]


Bloomberg News
mobility_future22 The Future Car is a What…?

With tech­no­log­i­cal advances so sophis­ti­cated and read­ily avail­able, they will one day add a new dimen­sion to the mobil­ity behav­ior of human beings, accord­ing to a recent report.

Find out what Frost & Sul­li­van projects the future car we will be dri­ving will be like. [More]


PR Newswire
bmw_electric22 Consumer Demand Dictates Course of Electrics

Despite neg­a­tive news to the con­trary, Amer­i­cans are still very inter­ested in elec­tric vehi­cles and BMW is about to boost pro­duc­tion to com­ply with demand in the U.S. and elsewhere.

Find out which BMW model is sell­ing off the shelves before it hits show­rooms. [More]


Detroit Free Press
TODAY: Tech-Savvy Customers Get the Deals; Reviewing an Innovative Loan Information System; More 
Video news that moves people and ideas
carrow-craig

Leasing is On the Upswing

We’re see­ing very high pen­e­tra­tion rates for leas­ing today — and next year lease returns are expected to be 70% higher than this year. So what will hap­pen a cou­ple years down the road?

carrow-craig Leasing is On the Upswing
CRAIG CARROW Vice President of Automotive Solutions, Fiserv
Gutierrez_Alec_KBB field trip Pickup Truck Demand Way Up
ALEC GUTIERREZ Senior Market Analyst, Kelley Blue Book
rowe-jared Delivering Meaningful Content
JARED ROWE President, Kelley Blue Book
VIDEO: What Independents Need
parker-scott
  DMS Tailored for the Independent Dealer
 

Inde­pen­dent deal­ers have DMS con­cerns that are some­times dif­fer­ent from fran­chise dealers.


Click here to watch video
BLOG: Automotive Digestibles
ChucksBlog
  How You & Leasing Can Ensure Your Dealership’s Future–By Not Being a Dealership
 

The Appar­ent Sit­u­a­tion: Leas­ing is back in the dealer show­room – With sup­pos­edly less risk based on the “right” resid­u­als to keep the trek toward 16M new vehi­cle sales going, all while being a cat­a­lyst to trans­form what “deal­ers” think they must do.

The smartest option for deal­ers may well be not to act like a deal­er­ship at all. For exam­ple, by  becom­ing a com­plete  “Per­sonal  Vehi­cle Trans­porta­tion Cen­ter” and using the leas­ing con­cept to help trans­form the way you sell cars.


Click here to read more




Dealer Pain Points
BY NADA UNIVERSITY

tires Pumping Up Service Profitability

Are your ser­vice advi­sors on the look­out for wear and tear on the vehi­cles pulling into the ser­vice drive? All it takes is a few sec­onds to check the tread and add a line to the repair order.

Improv­ing the customer’s grip on the road also pro­pels prof­itabil­ity into the fast lane for both your ser­vice and parts departments.

Click here to learn more.

cashflow_1_10_2010-9_59_am.jpg Cash Flow Giving You a Sinking Feeling?

You’re mak­ing sales and show­ing a profit but the bank bal­ance is close to zero or worse! If you’re in choppy finan­cial waters, then some­where in the store there’s a Bermuda tri­an­gle swal­low­ing up cash and threat­en­ing to sink the dealership.

As cap­tains of the ship, deal­ers must locate the prob­lem and chart a course to calmer waters.

Click here to learn more.

Website Hits and Misses Website Hits and Misses

In base­ball, a bat­ter can’t just have a good-looking swing. He’s actu­ally got to hit the ball. It’s the same with websites.

Is your site even get­ting to first base with poten­tial cus­tomers? Is it strik­ing out too much? And just as in base­ball if a bat­ter is not per­form­ing well, the man­ager makes adjust­ments. You’re the man­ager of your Inter­net team.

Click here to learn more.

Doing It Right  
HOW-TOs BY INDUSTRY EXPERTS

In today’s auto­mo­tive mar­ket, the younger and more plugged-in cus­tomers are bet­ter informed about their buy­ing options.

This is not lim­ited to the selec­tion of a vehi­cle or a deal­er­ship, but also extends to the deci­sion of how to finance their purchase.

The days of going to the library to look up a used car value, con­tact­ing var­i­ous banks to find out rates and call­ing a friend who gets an indus­try pub­li­ca­tion to look up avail­able incen­tives are long gone.

Nowa­days, most con­sumers have access to exten­sive online infor­ma­tion, includ­ing the var­i­ous finance options avail­able, from the com­fort of their home.

This new car-buying par­a­digm results in cus­tomers who have done their research upfront and, in many cases, are less inclined to need the rec­om­men­da­tion of a dealer because they walk into the show­room with a spe­cific vehi­cle, price and finance option in mind.

This type of cus­tomer is much harder to con­vert to another financ­ing option than one who walks into a deal­er­ship with just a monthly pay­ment in mind.

Read on…

 
Behind the Numbers  
USED VEHICLE VALUES

As deal­ers see growth in used vehi­cle sales vol­ume, find­ing the best strat­egy for lead gen­er­a­tion is crit­i­cal for retain­ing tal­ented employ­ees and increas­ing rev­enue and profits.

A few years ago, a deal­er­ship might have had one used car man­ager han­dling most of the sales trans­ac­tions; lately that’s evolved into a team that includes inter­net sales and needs more resources and sup­port. They might be expected to call a long list of leads, which can wear thin later in the day.

“They’re gen­er­at­ing more leads with less value,” said Michael Richards, Pres­i­dent of Tril­ogy Automotive.

Tril­ogy talked to Used Car Mar­ket Reports about what it takes reach car shop­pers with gen­uine pur­chase intent ver­sus what Trilogy’s Michael Richards calls, “arti­fi­cially man­u­fac­tured leads.” And how new car deal­ers asked Tril­ogy for guid­ance on used car lead gen­er­a­tion. Read on for more……




Build a Better Dealership
SMART INSIGHTS FOR SMART DEALERS

auto repairSafety-Related Auto Repairs Delayed by Drivers

Extended war­ranty provider ForeverCar.com ana­lyzed 1,500 com­ments on Twit­ter and Face­book dur­ing the last three months to bet­ter under­stand dri­ver pri­or­i­ties when it comes to vehi­cle repairs.

“Peo­ple can’t live with­out their air con­di­tion­ing, but they will find every way to delay mak­ing pay­ments for a sus­pen­sion sys­tem,” said Russ Carpel, CEO and founder of ForeverCar.com. “Our claims admin­is­tra­tors are not at all sur­prised to see this type of sen­ti­ment, as many of them wit­nessed this type of ser­vice pri­or­ity in many repair facil­i­ties through­out the country.”

The results were eye-opening …

nissan_leaf22Solid Used Segment to Reach: Green Cars

Look­ing for a prof­itable used vehi­cle mar­ket seg­ment to reach? How about green cars – hybrids, elec­tric vehi­cles, and fuel effi­cient vehicles?

Fran­chised and inde­pen­dent deal­ers are see­ing a lot of used inven­tory on the mar­ket today, and some of it, espe­cially trucks, is see­ing strong pric­ing. What we’re see­ing though is that deal­ers are doing well by sell­ing lots of used vehi­cle the right way.

Prices might be down on small, fuel effi­cient cars and hybrids, but all things con­sid­ered, they’re not bad – and sell­ing a lot of them can be prof­itable.

There’s a cou­ple of inter­est­ing announce­ment this week that speak to the issue – one is that Nis­san has added its Leaf elec­tric car to its cer­ti­fied pre-owned vehi­cle list; and the other is an online tool for used cars rat­ing fuel effi­ciency and emis­sions from the US Dept. of Energy (DOE) and Envi­ron­men­tal Pro­tec­tion Agency (EPA).

Check out details on these announce­ment and three other sig­nif­i­cant indi­ca­tors that used green cars are a mar­ket niche to con­sider……

Smart Thinking - Pass It On  
A MORE EFFICIENT LOAN PROCESS

The Prob­lem:

Auto fun­ders and deal­ers need help chang­ing the way finan­cial ser­vices are deliv­ered with a process and sys­tems that makes the loan and lease trans­ac­tion work effi­ciently and eas­ily in the F&I depart­ment of deal­er­ships and in the lend­ing insti­tu­tions that finance new and used vehi­cle purchases.

The Solu­tion:

Fis­erv dri­ves inno­va­tion in Pay­ments, Pro­cess­ing Ser­vices, Risk & Com­pli­ance, Cus­tomer & Chan­nel Man­age­ment, and Insights & Opti­miza­tion, and lead­ing the trans­for­ma­tion of finan­cial ser­vices technology.

Fis­erv can help change the way you serve your cus­tomers — pro­vid­ing new prod­ucts and ser­vices, rev­o­lu­tion­iz­ing finan­cial trans­ac­tions, deep­en­ing loy­alty while giv­ing you keen insight into cus­tomer behav­ior. Drill down fur­ther to learn more about all the things you need to prof­itably grow your business.

 
Buying Preferences Today  
DIGITAL MARKETING, MEDIA, AND COMMERCE

The Sit­u­a­tion:

U.S. retail mcom­merce sales growth has been dra­matic over the past few years. As a result, eMar­keter has curated a roundup of key trends, sta­tis­tics and infor­ma­tion rel­e­vant to retail­ers who can no longer ignore the mobile lives of dig­i­tal shop­pers – and that includes auto­mo­tive deal­er­ships, par­tic­u­larly as it relates to the Ser­vice Depart­ment and after­mar­ket products.

How Will This Infor­ma­tion Affect Your Dealership?

Deal­ers, your Ser­vice Depart­ment, your after­mar­ket prod­uct pro­mo­tions and even your car sales are affected more and more by shop­pers using mCom­merce to research and buy while on the move daily. Drill down fur­ther to get the lat­est sta­tis­tics in a grow­ing trend that affects auto­mo­tive deal­er­ships more and more.










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NADA University
One Source, Endless Possibilities, 24/7.






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