October 15, 2013
Need to Know
INDUSTRY NEWS IN THE LAST 24

jeep_cherokee_delayed22 Chrysler Dealers Ask – Where’s the ‘Beef’?

With each pass­ing day, Chrysler deal­ers are grow­ing more ner­vous about the lack of any 2014 Jeep Chero­kees to sell, already at least two months late in delivery.

Find out more about the issue that has held up this pop­u­lar model. [More]


Detroit Free Press
l_a_auto_show22 L.A. Auto Show to Host Dozens of Debuts

The 2013 L.A. Auto Show, Novem­ber 22 to Decem­ber 1, will play host to 22 vehi­cles mak­ing their world debuts, with a total of 56 vehi­cle debuts over­all star­ring in this major auto show.

Learn more about the event in one of the world’s largest car buy­ing mar­kets. [More]


LA Times
electric_rental_cars22 Electric Cars Hit Yet Another Snag

Mak­ers of elec­tric vehi­cles have been some­what dis­ap­pointed in sales vol­ume, but now the stall in pop­u­lar­ity enters another arena as well.

Find out more about which auto­mo­tive busi­ness is feel­ing the fall­out. [More]


Bloomberg News
TODAY: How to Sell Used Cars for More; Are Credit Scores Holding Lenders Back?; More 
Video news that moves people and ideas
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…..

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
pechstein-scott-aug2013 Millennials’ Buying Habits Shaped by Today’s Events
SCOTT PECHSTEIN VP of Sales, Autobytel
VIDEO: Successful Holiday Sales
misty-cole-onecommand
  Holiday Greeting Cards Drive Winter Traffic
 

Hol­i­day cards strengthen cus­tomer affin­ity with your deal­er­ship. They also demon­strate your appre­ci­a­tion for cus­tomer loy­alty, and cre­ate top-of-mind aware­ness that dri­ves addi­tional traffic…


Click here to watch video
VIDEO: Establish Trust, Build Loyalty
warkentin-dave
  Dealing with the Credit Challenged
 

When track­ing credit-challenged cus­tomers, extended grace peri­ods and pay­ment reminders are a great way estab­lish trust and build loyalty.


Click here to watch video




Dealer Pain Points
BY NADA UNIVERSITY

How to stop chasing cash every day How to Stop Chasing Cash Every Day

Unfor­tu­nately, some deal­ers are col­lect­ing receiv­ables at about the same pace as the horse and buggy era.

Today, we live in a tweet and text-message world. Fail­ure to quickly col­lect vehi­cle receiv­ables leaves many deal­ers in the frus­trat­ing and uncom­fort­able posi­tion of chas­ing cash every day.

Click here to learn more.

Website lonely and forgotten Is Your Website Lonely and Forgotten?

Your web­site looks great. And it should. You spent enough money on it. But is it as lonely as a pimply-faced teenager with­out a date on a Fri­day night?

The fact is that lonely web­sites make for lonely showrooms.

Click here to learn how to make some changes that will make it eas­ier for you to “hook up” with poten­tial suit­ors online.

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.

Doing It Right  
HOW-TOs BY INDUSTRY EXPERTS

There are lots of online sources with tips on how to “present” your car in the best light or “find­ing the right venue” to sell the vehicle. 

Tak­ing the right pic­tures (right angle/light), list­ing the vehi­cle with all the fea­tures and dis­clos­ing all the dam­age and mechan­i­cal issues DOES NOT get you more for your car.

It sim­ply increases the chances of find­ing a buyer that wants the type of vehi­cle that you have in the con­di­tion that your vehi­cle is in currently. 

These are SELLING TIPS, they should also include that you should NEVER EVER try to hide any­thing when sell­ing a vehi­cle to any party.

This makes for an espe­cially bad expe­ri­ence when you sell a vehi­cle to the pub­lic.  These buy­ers come to your place of busi­ness – they know where you live!

Keep read­ing!

 
Behind the Numbers  
INVESTMENTS

While eco­nomic recov­ery has been grad­ual in the US for automak­ers, there’s another sign a solid foun­da­tion is being set. Automaker stock prices have been strong – and are expected to see solid per­for­mance in the fourth quarter.

Gen­eral Motors and Ford have seen big stock price increases; Tesla Motors has seen share prices hit unbe­liev­able high lev­els, though that has soft­ened since its bat­tery fire story broke.

GM has been ben­e­fit­ing as see­ing more of its fed­eral loan being paid off recently.

For the rest of this year, invest­ment ana­lyst firm Zacks expects auto­mo­tive stock value to con­tinue see­ing strength in the fourth quar­ter. It should be one of the very best sec­tors for stock investors.

Read more about what ana­lysts think about automak­ers as wor­thy stock to consider……




Build a Better Dealership
SMART INSIGHTS FOR SMART DEALERS

follow_up_calls22The Follow-Up Call – a Neccessity or On Its Way Out?

The Sit­u­a­tion for Dealers:

Some sales man­agers are telling their teams to place a follow-up call when the poten­tial cus­tomer walks out of the show­room with­out buy­ing. Other sales man­agers are telling their teams: “for­get it, if he’s inter­ested in buy­ing a car he’ll be back.”

Advice is pour­ing in – and sales man­agers must sift through the pros and cons of spend­ing time on the follow-up call.

Before you make a deci­sion on whether or not to use the “follow-up call” strat­egy, drill down fur­ther to see what Dave has to say – along with advice from experts on how and when to fol­low up with poten­tial cus­tomers once they leave your showroom

Dash scoreBlack Box in Cars to Mean an “Automotive Graph” to Know Where You Are

Dash Labs is test­ing its Dash mobile app, a small device sim­i­lar to a black box used in com­mer­cial air­lines and mil­i­tary jets that can be installed under the steer­ing wheel of any vehi­cle made after 1996.

The app tracks 300 data points, includ­ing the type of vehi­cle being dri­ven, who’s in it and the time of day and vehi­cle location.

“We’re cre­at­ing the auto­mo­tive graph,” said Jamyn Edis, CEO and founder of Dash Labs, allud­ing to Facebook’s social graph.

Dash has a game com­po­nent that ties into a user’s social accounts and can mea­sure that infor­ma­tion against Face­book friends, or con­nec­tions on Foursquare, Insta­gram and Twit­ter. Each time a Dash user starts their car, the app begins har­vest­ing data that can be trans­ferred from the device to their phone via Blue­tooth or wi-fi connections.

A Dash user could keep track of where they’ve dri­ven on a map and tag it with meta-data. That infor­ma­tion could be used by gas sta­tions or other retail­ers and ser­vices to push out offers based on where peo­ple travel. The sys­tem also sug­gests a diag­no­sis if the check engine light goes on and indi­cates a rea­son­able price for repairs.

What can this mean for the deal­er­ship? Keep read­ing!

Smart Thinking - Pass It On  
TRAIN YOUR TEAM TO SELL IN TODAY'S WORLD

The Issue:

With all the talk about the chang­ing demands of car shop­pers, let’s not for­get about the indi­vid­u­als who sell to those shop­pers. It’s time to cre­ate a lean, mean, ver­sa­tile sales team. And the first step is get­ting your team to buy in.

Are you ready to find out what it takes to build a win­ning sales team?

Aaron Has­sen, writ­ing for DrivingSales.com, presents the argu­ment for mov­ing away from the old-school way of think­ing for car sales­peo­ple. Drill down fur­ther to get good, solid advice on out­selling the com­pe­ti­tion at your dealership!

 
Subprime Lending Today  
NEW APPROACHES TO SUBPRIME AUTO LENDERS

At Issue:

As the econ­omy con­tin­ues to thaw, auto lenders are revis­ing their mar­ket­ing and risk assess­ment strate­gies – look­ing for ways to securely tap into this expand­ing mar­ket oppor­tu­nity. That means auto deal­ers and their lenders must find the fastest path to reach­ing the right con­sumers, at the right time, with the right offer—before their competition.

Tak­ing a Closer Look at the Three Cs – Credit, Capac­ity and Collateral

Many lenders are ques­tion­ing credit pol­icy, and return­ing to such tra­di­tional lend­ing guide­lines as the Three Cs” – credit, capac­ity and col­lat­eral. It is gen­er­ally accepted that prob­lems in any of these areas can result in loan default, but for very dif­fer­ent rea­sons. Drill down fur­ther to learn more about credit score infor­ma­tion and gain a new under­stand­ing of its importance.










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






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