November 6, 2013
Need to Know

cfpb_monitor22 Bipartisan Group of Senators Confronts the CFPB on Auto Finance

Inter­est­ingly enough, a bipar­ti­san group con­sist­ing of 22 U.S. Sen­a­tors, sent a let­ter to the CFPB rais­ing con­cerns about the fair lend­ing auto finance bul­letin issued last March.

Keep read­ing to learn more about the issue as it was raised in Wash­ing­ton. [More]

CFPB Monitor
automotive_technology22 Technology: The Only Game in Town

There is a val­ley between com­pany exec­u­tives who still regard tech­nol­ogy as a back-office func­tion and an emerg­ing native dig­i­tal estab­lish­ment that sees tech­nol­ogy as an end in itself.

The writer con­tends that many com­pany CEOs don’t under­stand that “deliv­ery is the key”. [More]

USA Today

VIDEO: Blue Book Minute for October

KBB’s Alec Gutier­rez reports that leas­ing is mak­ing up about 25% of new vehi­cle sales now, and that’s the high­est level in about 10 years.

VIDEO: Reassessing September
  Jonathan Banks: September Was Better Than We Thought

Stats for new and used vehi­cle sales in Sep­tem­ber point to a pull­back in demand, but those stats are rather misleading.

Click here to read more
BLOG: Automotive Digestibles
  Make Yourself the Most Influential Person in the Dealership: Get a White Board ASAP

What you want to do: Make a name for your­self and gain more power, influ­ence, and money. Cause your GM or the dealer owner to regard you as some­one who is going places and mak­ing things hap­pen — A team player and poten­tial leader.

How to do it: Go buy two 4×6 White Boards; Put one in your office at the deal­er­ship and the other one in your den or home office. [More]

Click here to read more

Dealer Pain Points

Website Hits and Misses Online Listening Tools

How long would you stay in busi­ness if you dis­con­nected your phones?

Are you dis­con­nected from the “chat­ter” about your store that’s there for any­one with an Inter­net con­nec­tion to see?

Click here to see a video.

measuring right metric for success Are You Measuring the Right Metric for Success?

Every­one wants to grow their busi­ness and increase prof­itabil­ity. But are you man­ag­ing the right met­rics to achieve success?

You may need to re-think your finan­cial tar­gets in a way that revs up your bot­tom line.

Click here to learn more.

Imacon Color Scanner Online Gossip About Your Store Getting Ugly?

What’s the old say­ing about pub­lic­ity? Even bad pub­lic­ity is good, as long as you spell my name right.That may be true for Hol­ly­wood fame and mis­for­tune but that’s not the kind of rep­u­ta­tion that bodes well for long-term suc­cess in the car business.

Click here to learn to defend your online reputation.

Doing It Right  

The recent AuctionGenius/AWG Simul­cast inte­gra­tion helps deal­ers with instant access to a larger pool of avail­able vehi­cles at inde­pen­dent auc­tions they may not have con­sid­ered in the past.

“This inte­gra­tion con­tin­ues our efforts to pro­vide deal­ers con­ve­nient access to a wider vari­ety of whole­sale vehi­cles and help them quickly find and pur­chase the ones that meet their used inven­tory needs,” says Todd Kin­zle, Direc­tor, Oper­a­tions, for vAuto Genius Labs.

“The AWG Simul­cast inte­gra­tion with Auc­tion­Ge­nius fits per­fectly with our goal to help inde­pen­dent auc­tions adopt new mobile and online tech­nolo­gies that help their dealer cus­tomers  buy and sell whole­sale vehi­cles in a more cost-effective and effi­cient man­ner,” says Keith Whann, Founder of the Whann Tech­nol­ogy Group.

Who is using this now?

Behind the Numbers  

For deal­er­ships fol­low­ing envi­ron­men­tal sus­tain­abil­ity strate­gies, recon­di­tion­ing vehi­cles with water­borne paints has become a resource offer­ing cost and time effi­ciency and com­pli­ance with new indus­try stan­dards.  Cal­i­for­nia and Mary­land have their own rules and Vir­ginia is going in the same direction.

Jeff Cox, pres­i­dent of Myr­tle Beach, S.C..-based Col­ors on Parade, says that reg­u­la­tory com­pli­ance gets com­pa­nies to save money using water­borne auto paints and to make the process more effi­cient than it had been in the past. Some of the company’s dealer clients are using clean, water­borne paints as a sell­ing point for mar­ket­ing to car shop­pers inter­ested in green sus­tain­abil­ity issues. It’s also become a cost effec­tive strat­egy for dealer management.

Learn more about the busi­ness oppor­tu­nity and com­mu­nity ser­vice poten­tial of green recon­di­tion­ing paint…….

Build a Better Dealership

automotive_technology22Technology: The Only Game in Town

There is a val­ley between com­pany exec­u­tives who still regard tech­nol­ogy as a back-office func­tion and an emerg­ing native dig­i­tal estab­lish­ment that sees tech­nol­ogy as an end in itself.

The writer con­tends that many com­pany CEOs don’t under­stand that “deliv­ery is the key”. [More]

ces_international22Autonomous Vehicles – What Direction Will Automakers Take?

At Issue:

At the moment, there are two par­al­lel roads to dri­ver­less dri­ving. One involves automak­ers and parts sup­pli­ers work­ing on incre­men­tal advances in advanced dri­ver assis­tance sys­tems (ADAS) that could even­tu­ally fuse into an autonomous sys­tem. This road includes human-machine inter­faces (HMIs) that are situation-aware and thus able to auto­mat­i­cally adapt to dri­ving conditions.

The other road heads straight to a self-driving vehi­cle, with sup­pli­ers work­ing on com­plete autonomous dri­ving sys­tems they hope to sell to automak­ers or even end users. At the moment, the auto indus­try is at a cross­roads since ADAS makes it clear that we’re halfway there already.

No Longer the Stuff of Sci­ence Fic­tion – Your car may be a safer dri­ver than you are!

No longer a ques­tion of ‘if,’ but rather ‘when, shines the spot­light on autonomous vehi­cles as the experts gather in Las Vegas for the Inter­na­tional Con­sumer Elec­tron­ics Show. Drill down fur­ther for high­lights of what will be dis­cussed and how it affects automak­ers and their dealers.

Smart Thinking - Pass It On  

At Issue:

More data is com­ing out every day that sug­gests roughly half – or more pre­cisely – 54 per­cent of dig­i­tal ads aren’t even view­able; that is, they are falling below the fold impres­sions of the ad pre­sen­ta­tion, and are mostly invis­i­ble to the reader.

Are your dig­i­tal ads actu­ally being read by your customers?

What is the point in spend­ing good dol­lars on adver­tis­ing if the gen­eral pub­lic doesn’t get the full oppor­tu­nity to see your ad at first glance? Drill down fur­ther to find out more about “viewa­bil­ity” of online ads.

What Place Should Leasing Play?  

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.

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