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

edmunds_logo22 Edmunds: Used Car Prices Are Softening

Used car prices have hit their low­est lev­els in four years, accord­ing to Edmunds.com, with softer prices seen as a good sign for used car buyers.

Find out more about what Edmunds.com’s Joe Spina has to say. [More]


Edmunds.com
reed_brian_intersection22 AutoTrader Leads Series B Financing Investment

The Auto­Trader Group and Inter­sec­tion Tech­nolo­gies Inc. announced the clos­ing of a Series B Financ­ing invest­ment that will assist auto­mo­tive dealers.

Learn more about the trans­ac­tion from IT CEO Brian Reed. [More]


PR Newswire
e_golf_electric22 VW Puts First Mass-Produced Golf EV on Display

Ahead of its debut next week at the Los Ange­les Auto Show, auto jour­nal­ists were given a sneak pre­view of the 2015 Volk­swa­gen E-Golf elec­tric car.

Is this the next step in VW’s attempt to be “the world leader in e-mobility” by 2018? [More]


Green Car Reports
ciarrocchi-big

VIDEO: Looking Out for the CFPB

A good eval­u­a­tion of your deal­er­ship, with a focus on con­sis­tency in your approach, could find oppor­tu­ni­ties to improve in com­pli­ance and dis­cover poten­tial areas for profit.

VIDEO: The Hard Facts
galbraith-hardfacts
  Are You Focused on the Consumer?
 

Train­ing young mar­keters and sales­peo­ple? Then don’t use the phrase ‘I would’ — because that puts the focus on you, not the consumer.


Click here to read more
BLOG: Green Auto Market
green_machine_blog_image
  OEMs are Buying into Hydrogen FCEVs
 

Hydro­gen fuel cell elec­tric vehi­cles (FCEVs) are at a cross­roads rem­i­nis­cent of Kevin Cost­ner in “Field of Dreams” — if you build it, they will come. There’s not much of a fuel­ing infra­struc­ture out there or new vehi­cles on dealer lots. Tesla Motors CEO Elon Musk tends to scoff at them com­pared to plug-in elec­tric vehi­cles, but the major OEMs are putting their bets on FCEVS. Read all about it, and much more.


Click here to read more




Dealer Pain Points
BY NADA UNIVERSITY

dealer wesite Online Expectations Rising

The mar­ket changes fast. If you’re post­ing just a pic­ture or two of each vehi­cle on the used-car lot, then the mar­ket has passed you by.

Watch a video that demon­strates where the mar­ket is going.

underperforming service advisors Underperforming Service Advisors

Ser­vice advi­sors can have a huge impact on the bot­tom line if they’re trained to make orders, not just take them.

Suc­cess can depend on ask­ing the right questions.

Click to learn more.

autorepairman_1_13_2009-8_14_am Process Makes Perfect

Prac­tice makes per­fect, but even the best peo­ple will deliver spotty results unless they’re fol­low­ing a well-defined process.

In the ser­vice depart­ment, get­ting the process off to a good start is crit­i­cal to a prof­itable end­ing.

Click to learn more.

Doing It Right  
HOW-TOs BY INDUSTRY EXPERTS

The pri­mary focus of a suc­cess­ful RPM strat­egy is to gain bet­ter vis­i­bil­ity into the entire pre-owned oper­a­tions life­cy­cle, and most impor­tantly, act on oppor­tu­ni­ties for secur­ing quicker turn and higher gross simultaneously.

1. Ana­lyze sold units from the pre­vi­ous day. 
Can you see any trends in the units sold from yes­ter­day? And given what you sold, what is your plan to replace this inven­tory with addi­tional pre-owned units?

2. Ana­lyze appraisals from pre­vi­ous day. 
Review past appraisals with your sales con­sul­tants, and put a game plan together to recap­ture poten­tial lost trades.

Keep read­ing for the remain­ing tips from Dan Moran of First­Look.

 
Behind the Numbers  
USED VEHICLE VALUES

We’ve been hear­ing a lot about how used vehi­cle val­ues will be soft­en­ing. Well, that moment seems to have arrived, with fur­ther evi­dence com­ing from the Edmunds quar­terly report.

Accord­ing to Edmunds.com’s quar­terly report, post-recession prices hit their peak in Q2 2011 and have just gone down to their low­est level in four years.

What’s behind that? Joe Spina, direc­tor of used car analy­sis at Edmunds.com, says that new cars are where the demand is going. Other ana­lysts would point to the impact of off-lease vehicles.

Loans for new vehi­cles are plen­ti­ful, which also con­tributes some­what to used car prices soft­en­ing as new cars become a more attrac­tive choice for a lot of consumers.

There is good news for deal­ers in the Edmunds.com report – check it out……




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  
Streamline Your Business Operation with AutoSoft

At Issue:

Auto deal­ers have long searched for more con­ve­nience in man­ag­ing sales and ser­vice oper­a­tions, inven­tory man­age­ment, and con­nec­tiv­ity to 3rd party appli­ca­tions. In essence, what was needed was a Deal­er­ship Man­age­ment Sys­tem (DMS) that would work smoothly in tan­gent with a Cus­tomer Rela­tions Man­age­ment Sys­tem (CRM).

Stream­line Your Busi­ness Oper­a­tion with the AutoSoft “Traf­fic Cop”!

Is your deal­er­ship look­ing for the secret to a smooth and suc­cess­ful busi­ness oper­a­tion in both sales and ser­vice man­age­ment, look no fur­ther. Drill down fur­ther to uncover the ben­e­fits of hav­ing a Traf­fic Cop!






Dealer Resources 
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OneCommand
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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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