November 18, 2013
Need to Know

krafcik_john22 Fuel Cell Vehicles Figure Prominently at L.A. Show

Hyundai North Amer­ica CEO John Kraf­cik says the automaker will unveil a hydro­gen fuel cell vehi­cle at the Los Ange­les Auto Show this week, as other fuel cell vehi­cles dis­play around the world.

Hyundai is one of sev­eral automak­ers putting fuel cell vehi­cles on dis­play. [More]

Detroit Free Press
kbb_logo22 Kbb Links Up With Bitauto and CADA

Kel­ley Blue Book announces a joint ven­ture with Bitauto Hold­ings, pro­vid­ing inter­net con­tent and mar­ket­ing ser­vices for the Chi­nese auto­mo­tive industry.

Learn more about what KBB, Bitauto and CADA exec­u­tives have to say.

Kelley Blue Book
subaru_forester22 Subaru Does Well in Crash Safety Tests

Sub­aru con­tin­ues to do well as a man­u­fac­turer grounded in safety, the only automaker receiv­ing Top Safety Pick rat­ings from the Insur­ance Insti­tute for High­way Safety for four years in a row.

Get the details on some of Subaru’s vehi­cles receiv­ing high gov­ern­ment rat­ings. [More]

PR Newswire

VIDEO: Incentives are Sneaking Back Into the Game

CNW Research Pres­i­dent Art Spinella sees that:

1. New vehi­cle incen­tives com­ing back up — and that will even­tu­ally impact the val­ues of used vehi­cles.
2. Ford pickup incen­tives draw Chrysler and GM into the bat­tle.
3. Deal­ers are in a posi­tion where they have to increase – such as dis­count­ing more and giv­ing more on trade-ins to close deals.

Spinella has a lot more to say about the impact of incen­tives on the used car mar­ket. Watch the video for more.

VIDEOS: NADA in Washington
  NADA is Fighting for Dealers

The NADA is fight­ing for deal­ers in Wash­ing­ton, D.C., on issues span­ning the spec­trum from the Estate Tax to Keep­ing Auto Loans Afford­able and Acces­si­ble to Fuel Econ­omy. Watch these great videos to learn more about what they’re doing on your behalf.

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

magic Magic of Disappearing Profits

Magic acts are for the circus—not your deal­er­ship. Every­one knows they’re not cut­ting a woman in half but you won­der, “How did they do that?”

Do you have magi­cians mak­ing prof­its “dis­ap­pear” in the ser­vice department?

You can find out and cor­rect it.

Click here to learn more.

Bermuda trianle swallows parts profits Bermuda Triangle Swallows Parts Profits

Whether through theft, fraud or sim­ply poor prac­tices and processes, it’s easy for prof­itabil­ity to erode in the ser­vice department.

But when it hap­pens, it’s a stealth attack. No alarms blare. No one dials 9–1-1. In fact, nobody notices a thing.

Click to learn more.

Free inspections the cure for low service sales Free Inspections: The Cure for Low Service Sales

When peo­ple go to the doctor’s office, they get a free inspec­tion, which some­times results in more tests and reme­dies, and bet­ter health out­comes. Plus, the nec­es­sary addi­tional work increases the doctor’s revenue.

The same process in your ser­vice lane can increase rev­enues and cus­tomer satisfaction.

Click here to learn more.

Doing It Right  

With the lat­est Tele­phone Con­sumer Pro­tec­tion Act (TCPA) rules set­tling into place, we’ve got to remem­ber that not all texts are cre­ated equal. Is your dealership’s tex­ting up to snuff? Do what it takes to get there…because 97% of texts are opened and read within 3 min­utes vs. 22% of emails!

First Things First: What Are the New Rules? 

The TCPA is often updated to reflect changes in tech­nol­ogy and use, and the 2013 updates say…

• Mes­sages (phone calls and texts) must include the abil­ity to imme­di­ately opt out – effec­tive Jan. 14, 2013
• You must get unam­bigu­ous writ­ten con­sent before send­ing tele­mar­ket­ing calls or text mes­sages via auto­matic tele­phone dial­ing sys­tems (ATDS) – effec­tive Oct. 16, 2013
• Estab­lished busi­ness rela­tion­ships with con­sumers no longer relieve you of that writ­ten con­sent require­ment – effec­tive Oct. 16, 2013

What can you do to stay com­pli­ant? Check out these seven point­ers, then make sure you do your research and talk with an attor­ney for spe­cific legal advice.

Behind the Numbers  

Ser­gio Mar­chionne, chief exec­u­tive of Fiat and Chrysler, is count­ing on a merger of the two com­pa­nies as Fiat’s finan­cial per­for­mance gets hit.

Fiat’s third quar­ter prof­its were hurt, but Chrysler had strong results.

Mar­chionne would like to see the two com­pa­nies merge to bet­ter com­pete with global majors GM and Volk­swa­gen.

His efforts have been under­cut by union health­care trust Veba, which owns 40.5% of Chrysler not held by Fiat; Veba wants to see an ini­tial pub­lic offer­ing that Mar­chionne would rather avoid.

Mar­chionne has been cred­ited for cre­at­ing a part­ner­ship and inte­gra­tion between Fiat and Chrysler, avoid­ing the mess that hap­pened not long ago with Daim­ler not treat­ing Chrysler as an equal part­ner. Read all about what’s next for the Fiat and Chrysler merger.

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 next Jan­u­ary, 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.

DAVID W. WESTCOTT, cur­rent NADA Chair­man, will address the Con­ven­tion at the Open­ing Gen­eral Ses­sion on Sat­ur­day, Jan­u­ary 25, 2014 in the Ernest N. Mor­ial New Orleans Con­ven­tion Center.

David West­cott, pres­i­dent of West­cott Auto­mo­tive, Burling­ton, N.C., has served the National Auto­mo­bile Deal­ers Asso­ci­a­tion this year and rep­re­sents North Carolina’s fran­chised new-car deal­ers on the association’s board of directors.

Check out David’s ongo­ing col­umn as NADA’s chairman.

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

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