December 18, 2013
Need to Know
INDUSTRY NEWS IN THE LAST 24

auto-dealership Six in Sixty — Dec. 18, 2013

Auc­tion Net­work Sets Best Prac­tices & Comm Stan­dards for 2014

  • Sees increase in auc­tion vol­ume in 2014 due to lease returns
  • Has Tech­nol­ogy, Social Media, and Events committees

Are You Afraid Your Car is Going to Be Hacked?

  • Car hack­ing has become obses­sion of Congress
  • Indus­try needs to take prob­lem more seriously

Europe Car Sales Expected to increase Slightly, Pric­ing Weak

  • Small sales rise expected for Novem­ber numbers
  • Pric­ing a prob­lem for most Euro­pean OEMs, and mas­sive over­pro­duc­tion persists

X by Wire Makes Con­sumers Fear­ful of Run­away cars

  • Elec­tronic impulse fea­ture designed in cars
  • Promise to make cars safer, lighter & eas­ier to build
  • Brak­ing sys­tems that make inat­ten­tive dri­vers safer

Cold Weather Cre­ates High Demand for SUV’s, Trucks

  • SUVs and trucks are scarce in cold areas
  • Boston & Chicago have high demand for SUVs

Dig­i­tal Media Tak­ing Share of Global Ad Mar­ket from TV

  • TV about to lose no. 1 posi­tion in Global Ad Volume

Be the Smartest Per­son in the Room: get more in-depth (but still fast) run­down of the above-mentioned sto­ries RIGHT HERE.


rumon-lasker-450

VIDEO: You Have to Think Quick with Mobile

Mobile users are always look­ing to use their apps with bet­ter fea­tures and func­tion­al­ity. To achieve this, you have to release mobile prod­ucts quickly to stay ahead of consumers.

VIDEO: Used Car Sales Today
jeff-bunch
  Normal Depreciation Rates Returning
 

His­tor­i­cal data is great to have for loans — but com­bin­ing that data with fore­casted future val­ues or resid­u­als is even more powerful.

BLOG: Automotive Digestibles
postit-face
  Have Dealers Had Enough of New Mouse Traps, Evangelical Trainers, Etc.?
 

The Sit­u­a­tion: Have you had enough? In lis­ten­ing, infor­mally sur­vey­ing, and observ­ing what is hap­pen­ing with dealer adop­tion of ven­dor sys­tems, sales pitches, mag­a­zine mar­ket­ing, and con­stant con­fer­enc­ing – not to men­tion how-to arti­cles by eager con­sul­tants, train­ers, and hun­dreds of sales­peo­ple – one can begin to con­clude that dealer man­age­ment & their team are “maxed” out on the appli­ca­tion of tech­nol­ogy sys­tems, overnight trans­for­ma­tion of their sales teams and the day-to-day man­age­ment of a typ­i­cal deal­er­ship in general.





Dealer Pain Points
BY NADA UNIVERSITY

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.

Crook Insider Crime: How to Handcuff a Crook

A “trust but ver­ify” pol­icy with employ­ees at your deal­er­ship may save you a lot of money and headaches when it comes to a uniquely Amer­i­can phrase: The Five Fin­ger Dis­count. Act now before the police string up the yel­low crime scene tape at your store.

Click here to learn more.

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.

Behind the Numbers  
FUEL PRICES

Ever heard of “frack­ing”? Shale gas and oil shale reserves had been packed into hard, dense deposits, and hydraulic frac­tur­ing (frack­ing) offers an effec­tive method to extract nat­ural gas and oil. It’s been deliv­er­ing a lot of cheap nat­ural gas to the US and help­ing keep oil prices down.

Frack­ing is bring­ing a lot of big busi­ness oppor­tu­ni­ties and polit­i­cal bat­tles in sev­eral states.

Devon Energy Corp. made a $6 bil­lion acqui­si­tion – the largest for this year in the oil and gas indus­try; Devon has played an instru­men­tal role in bring­ing more nat­ural gas to Amer­ica and keep­ing the prices down.

Cal­i­for­nia Gov. Jerry Brown is get­ting heck­led by envi­ron­men­tal­ists for per­mit­ting frack­ing in the state after sign­ing a bill into law this fall that will over­see frack­ing operations.

OPEC’s power over oil prices is dimin­ish­ing. With huge growth in US shale and Cana­dian oil sup­ply, ana­lysts think there will be a siz­able boost to global output.

Read more about the role of frack­ing and North Amer­i­can oil and gas reserves in fuel sup­ply and prices.

 
 



Build a Better Dealership
SMART INSIGHTS FOR SMART DEALERS

auto_dealerships22Dealer Alert: OEMs Making Management, Design, Pricing & Product Moves

Here is the Sit­u­a­tion as seen by your Dealer Digest Daily Press Corps:

Pickup up the Busi­ness sec­tion of the WSJ, Finan­cial Times, your strug­gling home town news­pa­per, or even Auto­mo­tive News– or go online –and you will see arti­cles and announce­ments in almost every daily issue about an OEM mak­ing some major change in some as aspect of their mar­ket pres­ence or orga­ni­za­tional structure..

Some Exam­ples of head­lines and fea­tured arti­cles in just the last week:

  • Nis­san Pins Hopes on a Man­age­ment Trio
  • Daim­ler Open to China Stake Sale
  • Mar­chionne Gains Room to Maneuver
  • VW Poised to rein in costs after sales growth stalls
  • Rolls-Royce & Mini Look into Mak­ing SUVs
  • Hyundai Bets on Gen­e­sis in Lux­ury Path

 
What does this mean to you & your deal­er­ship? READ MORE about how all these news devel­op­ments might impact your deal­er­ship, its sales, and prof­its – and maybe your job.

NADA 2014  
Where to Go & What to See

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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