November 21, 2013
Need to Know

hyundai_logo22 Latest Total Value Index Puts Hyundai on Top

Strate­gic Vision’s lat­est Total Value Index sur­vey indi­cates that Hyundai is the top value among auto­mo­tive brands in the U.S., based on 45,952 new car buyers.

Get the details on all the cat­e­gories and the top fin­ish­ers in the sur­vey. [More]

The Detroit Bureau
toyota_camry22 Toyota Plans Tweaks for Top-Selling Camry

As the Toy­ota Camry heads for its 12th straight year as the best-selling U.S. car, the com­pany plans to give “sig­nif­i­cant atten­tion” to refresh­ing some of its features.

Find out what’s in store for the Toy­ota Camry in 2014. [More]

Bloomberg News

VIDEO: Plugging the Revenue Holes in Your Service Department

Gen­eral Man­agers and Ser­vice Man­agers are encour­aged to thor­oughly review and ana­lyze every process to iden­tify rev­enue leaks and con­vert prob­lems to areas of growth and profitability.

BLOG: Green Auto Market
  Having a Bad Week? It Could Be Worse: You Could Be at Tesla.

Things got even worse for Tesla Motors. The National High­way Traf­fic Safety Admin­is­tra­tion is recall­ing the Model S after its third fire in six weeks; and on Wednes­day of last week, three work­ers in its Fre­mont, CA, plant were injured by hot metal on the pro­duc­tion line. Read all about it, plus the EPA’s deci­sion on let­ting go of E15 in gasoline.

Click here to read more
VIDEO: The Hard Facts
  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

Dealer Pain Points

Whats more valuable aged wine or aged parts What’s More Valuable: Aged Wine or Aged Parts?

The sophis­ti­cated palate appre­ci­ates a finely aged wine. The longer the wine bot­tle sits, the bet­ter the taste and the higher the value. Not so with vehi­cle parts. Age adds dust to parts on the rack and red ink to your bal­ance sheet.

Parts need to be fresh. Find out how to keep them that way.

Click here to learn more.

Invoicing at Internet Speed Invoicing at Internet Speed

It’s get­ting to be the end of the month and you have open ROs that delay billing and slow cash flow. Do you know why? Sludge has built up in your inter­nal processes, cre­at­ing finan­cial inef­fi­cien­cies that cost money.

Find out the key pain points and how to fix them.

Click here to learn more.

Freshening Your Parts Inventory Freshening Your Parts Inventory

The parts you have in inven­tory should be as fresh as the fruits in your super­mar­ket. Pro­duce man­agers quickly dis­count pro­duce past its prime, get some cash, and restock with fresh prod­ucts. Deal­er­ships should use the same strat­egy: mon­i­tor what you have in stock and sell off parts that are los­ing value on their way to becom­ing worthless.

Click here to learn more.

Doing It Right  

For the first time, con­sumers who search inven­tory on third-party sites will be con­nected directly to that vehicle’s detail page (VDP) on the deal­er­ship website.

LotLinx now pow­ers 125+ auto­mo­tive search sites, from AOL Autos to Car and Dri­ver, which reach over 85% of all auto shop­pers.  Over 50 deal­er­ships, includ­ing sev­eral major dealer groups, have tested, then expanded, LotLinx and are gen­er­at­ing sig­nif­i­cant increases in sales veloc­ity and ROI.

For exam­ple, across all deal­er­ships using LotLinx, cost per VDP view was $3.08 ver­sus $40.26 for non-branded Search Engine Mar­ket­ing (SEM); cost per unique shop­per was $4 ver­sus $121.72 for non-branded SEM, and engage­ment was 33% higher.

Data con­firms that these con­sumers are more engaged, spend more time on the dealership’s web­site, view more vehi­cles and are closer to a pur­chase than tra­di­tion­ally gen­er­ated traffic.

How does LotLinx work?

Behind the Numbers  

Patent fil­ing wars have been build­ing up over hybrid, elec­tric vehi­cle (EV), and con­nected car tech­nolo­gies. The US auto mar­ket has become a com­pet­i­tive play­ing field for global automak­ers, technology-heavy upstarts, and major indus­try out­siders (such as Sil­i­con Val­ley companies).

Intel­lec­tual prop­erty war is sim­i­lar what has engulfed smart­phone indus­try with fights that automak­ers have been closely monitoring.

In 2008, about 20 patents were filed quar­terly in the US for hybrid or EV tech­nolo­gies – now, automak­ers are fil­ing 90 patents per quar­ter in that area. Con­nected cars and info­tain­ment also expected to be a source of battle.

Sig­nals sug­gest auto indus­try set to become more liti­gious in near future.

Read more about what patent wars mean for the US auto industry……

Build a Better Dealership

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  
2014 NADA/ATD Convention in New Orleans


NADA Con­ven­tion 2014, Jan­u­ary 24–27

Join us in New Orleans, where thou­sands of the nation’s new car deal­ers come to learn, net­work and shop with the industry’s top lead­ers and retail­ers. Get­ting ahead of tomor­row means cap­tur­ing the rac­ing pulse of the indus­try today! The 97th NADA Con­ven­tion & Expo can pre­pare you for your busi­ness for what’s just around the bend.

FORREST McCONNELL will address the Con­ven­tion at the Clos­ing Gen­eral Ses­sion on Mon­day, Jan­u­ary 27, 2014 in the Ernest N. Mor­ial New Orleans Con­ven­tion Center.

For­rest McConnell is pres­i­dent of McConnell Honda/Acura in Mont­gomery, Ala. He started in the auto­mo­tive busi­ness wash­ing cars when he was 14 years old and then sell­ing cars when he was 16 at his family’s deal­er­ship, McConnell Chrysler/Honda in Mont­gomery. McConnell is the 2013 vice chair­man for the National Auto­mo­bile Deal­ers Asso­ci­a­tion and serves on the board of direc­tors, rep­re­sent­ing Alabama’s fran­chised new-car dealers.

Find out more about where McConnell stands on the issues sur­round­ing the CFPB.

Please be sure to reg­is­ter for the con­ven­tion if you have not already done so!

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