November 26, 2013
Need to Know
INDUSTRY NEWS IN THE LAST 24

toyota_fuel_cell_car22 Fuel Cell Cars: Not Going Away Anytime Soon

Toy­ota made a deci­sion — the fuel-cell car is going to be a big part of our future,” John Han­son, a Toy­ota spokesman, said. “That’s the direc­tion we’re going, big time.”

Find out more about Toyota’s fuel cell opti­mism, and other automak­ers as well. [More]


New York Times
gm_logo22 GM Enters 2014 Free of Government Control

After one of the largest bank­rupt­cies in U.S. his­tory, Gen­eral Motors Co. plans to close the books on gov­ern­ment own­er­ship and may well begin offer­ing a dividend.

Find out more about gov­ern­ment plans to sell its remain­ing shares of GM. [More]


Wall Street Journal
mitchell-jack-497

VIDEO: Used Truck Market Stable for 2 Years

Penske is see­ing inven­tory reduc­tions of up to 30% in light and medium duty vehi­cles com­pared to pre­vi­ous years.

VIDEO: Goodwill (and Sales) for the Holidays!
onecommand-misty
  Creating Goodwill Through Community Outreach
 

The hol­i­day sea­son is upon us, and it’s time for deal­ers to plan their end-of-year strate­gies. Com­mu­nity out­reach pro­grams are often a good place to start.

VIDEO: Think Tank Tuesday
potratz-paul
  Are You Ready For Black Friday?
 

The hol­i­days are quickly approach­ing, do you have a plan in place to make your deal­er­ship a stop on cus­tomers shop­ping lists?





Dealer Pain Points
BY NADA UNIVERSITY

Service-Department-Wide-Shot-1024x576 Mismanaging Workflow Hurts Bottom Line

To the aver­age con­sumer, one ser­vice tech is the same as another. Savvy ser­vice man­agers know bet­ter and uti­lize per­son­nel to pro­duc­tively man­age a work­flow that requires dif­fer­ent tal­ent and skill levels.

The chal­lenge for ser­vice man­agers is sim­i­lar to one fac­ing coaches of sports teams: putting the right play­ers on the field and in the right posi­tions to succeed.

Click here to learn more.

Tech-working-on-car-1024x576 Used Car Manager Headache: Waiting for Reconditioning

Why do some deal­er­ships ignore their deal­ers’ invest­ments? Trade-ins sit and sit, wait­ing to be reconditioned.

The used-car man­ager, who needs those vehi­cles ready for retail because he’s des­per­ate for inven­tory, just can’t seem to get anyone’s attention.

What’s the solution?

You’ll find a few when you watch this video.

Stolen Service Profits Stolen Service Profits

The famed bank rob­ber Willie Sut­ton said he robbed banks because that’s where the money is.

If he were going after deal­er­ship prof­itabil­ity, his rich­est tar­get would be your ser­vice department.

It’s a stealth attack.

Click here to learn more.

Doing It Right  
HOW-TOs BY INDUSTRY EXPERTS
Do or Do Not. There is No Try.
4 Rules for Responding to Angry Customers

In busi­ness, you are what you are per­ceived to be.  Your cus­tomers not only have their own opin­ions of your busi­ness, but they can also influ­ence other poten­tial cus­tomers. How you actu­ally run your busi­ness is cer­tainly impor­tant. Just as impor­tant, how­ever, is how cus­tomers that have never stepped foot in your busi­ness per­ceive you.

Before they ever step foot into your busi­ness, many con­sumers will research it online. Every sin­gle web­site that con­tains feed­back from other con­sumers about your busi­ness will help shape their per­cep­tion. Every review they read; Every com­ment on your Face­book page; What peo­ple are say­ing about you on Twit­ter; All of these will con­tribute to form a busi­ness pro­file for these new customers.

Most busi­nesses nowa­days under­stand the impor­tance of mon­i­tor­ing com­ments and reviews for prob­lems. Some will out­source this mon­i­tor­ing. Some will do it them­selves. Regard­less of who does it, if it’s not done prop­erly, you can do more dam­age than if you had done nothing.

Most of these upset cus­tomers can be dif­fused if the sit­u­a­tion is han­dled prop­erly. And a proper and appro­pri­ate han­dling will also show poten­tial cus­tomers that you care and are pay­ing attention.

Sara Calla­han, Carter­West PR pro­vides a few sim­ple guide­lines that you should take to effec­tively com­mu­ni­cate with, and dif­fuse, angry cus­tomers online.

 
Behind the Numbers  
BRAND IMAGE

Japan­ese car­mak­ers’ dom­i­na­tion over car reli­a­bil­ity rat­ings is start­ing to show cracks, accord­ing to Con­sumer Reports’ annual reli­a­bil­ity survey.

Lexus, Toy­ota, and Acura topped the list, but Audi moved up to No. 4; Volvo and GMC also moved into the top 10.

Ford and Lin­coln still were way down on the list, dri­ven much by prob­lems with MyTouch info­tain­ment system.

It was a very good report for Sub­aru, which saw its 2014 Forester end up as No. 1 on the vehi­cle list.

Like it or not, Con­sumer Reports does have its influ­ence on new vehi­cle sales and brand image.

Check out more details on how the 2013 Annual Auto Sur­vey turned 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  
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. Ladies and Gen­tle­men: Meet Your Customer

Not all car shop­pers are cre­ated equal! The Auto­Trader pre­sen­ter will iden­tify 6 dif­fer­ent types of car shop­pers and demon­strate how deal­ers who deliver tai­lored shop­ping expe­ri­ences – com­bined with appro­pri­ate trig­gers, online mer­chan­dis­ing, and com­mu­ni­ca­tion – can cre­ate game-changing shop­per engage­ment, ulti­mately lead­ing to sales.

Pre­sen­ter:
Alan Smith, AutoTrader.com, Atlanta, GA

2. Online Reviews Drive Sales and Service

You need an online rep­u­ta­tion that enhances the public’s opin­ion of your deal­er­ship and its employ­ees, which in turn will drive more sales. Deal­ers cap­i­tal­iz­ing on their rep­u­ta­tion have put a strong offense in place when it comes to online reviews and instilled a review-based cul­ture across sales and ser­vice depart­ments. Rely­ing on actual deal­er­ship exam­ples and real-life expe­ri­ences, the Deal­er­Rater pre­sen­ter will high­light var­i­ous dealer tech­niques, tools, and inte­grated mar­ket­ing approaches for ensur­ing rep­u­ta­tion ROI for both your deal­er­ship and employees.

Pre­sen­ters:
Heather MacK­in­non, Deal­er­Rater, Waltham, MA
Jeff King, Bozard Ford Lin­coln, St. Augus­tine, FL






Dealer Resources 
Autobytel
Looking for the Best Leads in the business?
DealerRater.com
Helping dealers manage their reputation.
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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