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

auto_lease22 Lease Prices Continue to Rise

Accord­ing to Swapalease.com, aver­age car lease prices rose 1.2 per­cent, year-over-year, in Octo­ber as some pop­u­lar car leases have taken a notice­able jump this year.

Find out more about the leas­ing mar­ket­place among today’s pop­u­lar leases. [More]


Swapalease Press Release
edmunds_logo22 Strong November Sales Seen as Year Winds Down

Edmunds.com fore­casts strong sales in Novem­ber with an esti­mated SAAR rate of 15.7 mil­lion, up from Novem­ber 2012 fig­ures but edg­ing slightly down from October.

Get the details on Edmunds’ fore­cast ahead of automaker sales fig­ures for Novem­ber. [More]


Edmunds.com
los_angeles_auto_show22 New-Vehicle Debuts: Smaller and Pricier

The Los Ange­les Auto Show is a smor­gas­bord of new vehi­cles that includes a wave of smaller more expen­sive cars aimed at peo­ple seek­ing a lux­ury pack­age, accord­ing to ana­lysts attend­ing the show.

Take a closer look at automaker pre­sen­ta­tions mar­keted to sell “entry-level lux­ury”. [More]


Detroit Free Press
carrow-craig

VIDEO: Leasing Residuals Getting Where They Should Be

As leas­ing heats up, it’s get­ting more com­pet­i­tive, and more lenders have entered the mar­ket. Con­se­quently, leas­ing resid­u­als today are a bit more in line with where they should be.

The EcoCAR2 Competition
Choi_Michael_ECOCar2
  Training Tomorrow’s Automotive Engineers
 

Col­lege stu­dents are gain­ing great expe­ri­ence — and a few job offers — from par­tic­i­pat­ing in GM and EPA’s EcoCAR2 competition.

BLOG: Automotive Digestibles
postit-face
  Have Dealers Had Enough of New Mouse Traps, Evangelical Trainers, Etc.?
 

The Sit­u­a­tion: Have you had enough? In lis­ten­ing, infor­mally sur­vey­ing, and observ­ing what is hap­pen­ing with dealer adop­tion of ven­dor sys­tems, sales pitches, mag­a­zine mar­ket­ing, and con­stant con­fer­enc­ing – not to men­tion how-to arti­cles by eager con­sul­tants, train­ers, and hun­dreds of sales­peo­ple – one can begin to con­clude that dealer man­age­ment & their team are “maxed” out on the appli­ca­tion of tech­nol­ogy sys­tems, overnight trans­for­ma­tion of their sales teams and the day-to-day man­age­ment of a typ­i­cal deal­er­ship in general.





Dealer Pain Points
BY NADA UNIVERSITY

Do your allstars earn allstar pay Do Your All-Stars Earn All-Star Pay?

Every depart­ment has its chal­lenges. In ser­vice, maybe the mar­ket­ing isn’t work­ing. Maybe there are delays at the parts counter. Or maybe the techs aren’t motivated.

Pay­ing for per­for­mance can incen­tivize the ser­vice department.

Are you meet­ing or beat­ing NADA finan­cial per­for­mance guide­lines? Click here to learn more.

49-Tech-working-on-engine-1024x576 Poor Parts Profits? Here’s the Fix.

You can’t rack up prof­its in ser­vice with­out parts. But too many deal­er­ships have too many parts that are obso­lete and quickly declin­ing in value, if not almost worth­less. So the prof­its you pocket in ser­vice are lost to the hole in your pocket in parts.

What to do?

Watch this video to find out how to sew up that hole to ensure that your pocket for parts is profitable.

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.

Doing It Right  
HOW-TOs BY INDUSTRY EXPERTS

Sat­is­fac­tion with the car buy­ing process decreases sig­nif­i­cantly once con­sumers make the tran­si­tion from online shop­ping to in-store pur­chas­ing, and nego­ti­at­ing the value for the trade-in is the activ­ity with which they are least satisfied.

“By address­ing the most painful part of the transaction—negotiating the trade-in—dealers can increase cus­tomer sat­is­fac­tion sig­nif­i­cantly, and they can also stand out from their com­pe­ti­tion. It’s a win-win if they implement—and merchandise—the tool in the right way,” said Juan Flo­res, direc­tor of oper­a­tions for AutoTrader.com’s Trade-In Marketplace.

A tool like AutoTrader.com’s Trade-In Mar­ket­place can serve as a bridge between the online and offline aspects of the car shop­ping expe­ri­ence, thereby help­ing deal­ers increase cus­tomer sat­is­fac­tion notably.

Keep read­ing for strat­egy tips from Auto Trader’s Juan Flo­res.

 
Behind the Numbers  
AUTO SHOW

Media at the LA Auto Show saw 56 new mod­els, up from 49 pre­views from the pre­vi­ous year. That could be a decent indi­ca­tion of mar­ket recovery.

The LA Auto Show and Tokyo Motor Show com­peted for atten­tion dur­ing the same time last week. Lux­ury cars and hydro­gen fuel cell vehi­cles were the stars in Los Ange­les, and the Tokyo show was filled with far out, fan­ci­ful con­cept cars.

Con­nected Car Expo was held for the first time ever right before the LA Auto Show started up. Ford’s Jim Far­ley called on automak­ers and tech com­pa­nies to work together to bring the wide gap between tech­nolo­gies together.

On the lux­ury front, Porsche, Lin­coln, Jaguar, Mer­cedes, and Infiniti had a lot to show off.

Hyundai and Honda revealed hydro­gen fuel cell vehi­cles, and 2014 Honda Accord took the Green Car of the Year award. Find out what it was like to be at the LA Auto Show last week……..




Build a Better Dealership
SMART INSIGHTS FOR SMART DEALERS

bad-credit-scoreWhy Should You Care About Five Subprime Auto Loan Predictions?

Just as pay­day lend­ing evolved to bet­ter meet the needs of the under­banked, so will auto lend­ing change to meet the needs of non-prime customers.

That indus­try is large, it’s grow­ing, it’s incred­i­bly frag­mented, it’s inef­fi­cient, it’s lop­sided (the house mostly wins), and it’s one of the largest yet worst con­sumer finan­cial experiences.

New tech­nol­ogy, new busi­ness mod­els and new reg­u­la­tion rep­re­sent an enor­mous oppor­tu­nity for incum­bents and entre­pre­neur­ial thinkers to cre­ate a more effi­cient and more trans­par­ent marketplace.

Here’s what we could see in five years…

Smart Thinking - Pass It On  
WORKSHOPS at the NADA/ATD CONVENTION 2014

There are 159 work­shop ses­sions being offered at the con­ven­tion this year! Work­shops are led by NADA Uni­ver­sity approved experts and guar­an­tee that you will go back to your deal­er­ship with inno­v­a­tive ideas and new prac­tices. Here are sam­ples that may inter­est you:

1. Best Ideas and Prac­tices from NADA 20 Groups

This work­shop will pro­vide some of the ideas and prac­tices voted as the best by NADA 20 Group mem­bers. All deal­er­ship depart­ments will be rep­re­sented. There will be some­thing for every deal­er­ship regard­less of fran­chise, mar­ket, or sales volume.

Pre­sen­ters:
Brad Law­son, NADA, McLean, VA;
Mark Rogers, NADA 20 Group, Ft Collins, CO

2. 2025 Deal­er­ship Vision: What Lies Ahead!

The speak­ers will pre­dict what the indus­try will look like in the year 2025, and key areas that deal­ers need to focus on to be suc­cess­ful. You will be pro­vided a vision of what each deal­er­ship depart­ment will look like and gain valu­able insights to help you make deci­sions that impact today plus the oppor­tu­ni­ties and chal­lenges that lie ahead.

Pre­sen­ters:
Jay Fer­riero, Cap­i­tal Auto­mo­tive, McLean, VA;
Scott Gor­den, Clifton­Lar­son­Allen LLP, Min­neapo­lis, MN;
Karl Schmidt, Morrie’s Auto­mo­tive Group, Min­netonka, MN






Dealer Resources 
Autobytel
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DealerRater.com
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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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