December 5, 2013
Need to Know
INDUSTRY NEWS IN THE LAST 24

uninsured 14% of Drivers are Uninsured Nationally — and States Can’t Handle the Problem

The Sit­u­a­tion:  Unin­sured dri­vers are dri­ving state gov­ern­ment, law enforce­ment, and DMW offi­cials into a sit­u­a­tion they just can­not con­trol or manage.

Increas­ing pres­sure is being brought to bear on state gov­ern­ments to do some­thing about the prob­lem. Most states require vehi­cle own­ers to have lia­bil­ity insur­ance, which costs dri­vers about $500 per year. On top of that, includ­ing prop­erty dam­age or col­li­sion insur­ance fre­quently costs another $400 to $ 500 per year.

States are work­ing to fig­ure out ways for unin­sured dri­vers to afford a com­plete insur­ance pack­age of lia­bil­ity and prop­erty dam­age insur­ance. In many ways, the afford­abil­ity issue is like health insur­ance cost for indi­vid­u­als plus many peo­ple seem to have a “what are the odds” men­tal­ity. MORE


Wall Street Journal
bmw-showroom Mercedes Seeks to Grab Sales Leadership Over BMW in 2013: The Race is On!

BMW sold more cars than Mercedes-Benz last year. But the sales worm is about to turn. MB is out to sell over 300,000 vehi­cles in the U.S. by the end of Decem­ber. Both com­pa­nies exec­u­tive team are being cool about the race and play­ing down the sig­nif­i­cance of the con­test to be the top-seller.

Novem­ber and Decem­ber are big months for lux­ury car sales with mas­sive TV  ads with Ho Ho San­tas and Red Rib­bons galore. The BMW team would love to fin­ish strong with sales records in Decem­ber, but it may be unlikely that the BMW 320  can out­sell the MB CLA series. MORE


Wall Street Journal
bunch-jeff-450

VIDEO: 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.

VIDEO: Ricky Beggs on the Used Car Market
beggs-thanksgiving
  A Longer Look Back on a Shorter Week
 

Beggs reports that Novem­ber 2013 had four seg­ments with –1% or less depre­ci­a­tion — with a strong show­ing for full-size pickups.

BLOG: Green Auto Market
green_machine_blog_image
  Inside the Minds of Green Car Shoppers
 

Sales of plug-ins, hybrids, nat­ural gas vehi­cles, and other alter­na­tive fuel vehi­cles (AFVs) are com­par­a­tively small when look­ing at over­all new vehi­cle sales in the US. Still, they’re grab­bing a lot of atten­tion from media and mar­ket­ing ana­lysts lately. Here’s the lat­est cov­er­age on how car buy­ers are per­ceiv­ing AFVs.





Dealer Pain Points
BY NADA UNIVERSITY

Do your allstars earn allstar pay Do Your All-Stars Earn All-Star Pay?

Every depart­ment has its chal­lenges. In ser­vice, maybe the mar­ket­ing isn’t work­ing. Maybe there are delays at the parts counter. Or maybe the techs aren’t motivated.

Are you meet­ing or beat­ing NADA finan­cial per­for­mance guide­lines? Click here to learn more.

49-Tech-working-on-engine-1024x576 Poor Parts Profits? Here’s the Fix.

You can’t rack up prof­its in ser­vice with­out parts. But too many deal­er­ships have too many parts that are obso­lete and quickly declin­ing in value, if not almost worthless.

Watch this video to find out how to sew up that hole to ensure that your pocket for parts is profitable.

50-Person-with-Hamburger Time Wasters That Kill Service Profits

Do you put the ketchup on a burger before you cook it? Of course not. There’s a sequence to prepar­ing the burger and adding the fixings.

Ser­vice and parts depart­ments have their own sequence but some are out of whack. Watch this video and we’ll show you how improve pro­duc­tiv­ity and prof­its with advice on how to ensure you’re struc­tured for success.

Doing It Right  
HOW-TOs BY INDUSTRY EXPERTS

Here’s what sets AutoSaver.com pric­ing sys­tem apart from other vehi­cle appraisal products:

• AutoSaver.com’s patent-pending Value Meter dis­plays prices on an easy to use (and aes­thet­i­cally pleas­ing) dia­mond shaped meter.

• Buy­ers can quickly deter­mine if the vehi­cle they are con­sid­er­ing is priced at or below its present mar­ket value.

• The best deals will dis­play a click­able “Below Mar­ket” icon that allow poten­tial buy­ers to view a com­plete pric­ing analy­sis of the vehicle.

Who is using the AutoSaver Effec­tively? -  Red McCombs Toyota!

AutoSaver.com has added Red McCombs Toy­ota to its already impres­sive dealer net­work. Fur­ther, AutoSaver.com will pro­vide inde­pen­dent pric­ing analy­sis backed by Black Book data on the Red McCombs Toy­ota website.

Located in West San Anto­nio, Red McCombs Toy­ota car­ries approx­i­mately 200 pre-owned vehi­cles in inven­tory with nearly 60% priced below the local mar­ket prices.

“Our rela­tion­ship with McCombs enables us to try new and inno­v­a­tive ideas at the deal­er­ship level, ulti­mately improv­ing our prod­ucts and how they pos­i­tively affect the deal­er­ship”, states Derek White, Founder and CEO of AutoSaver.com.

Get the details!

 
 



Build a Better Dealership
SMART INSIGHTS FOR SMART DEALERS

yodaDo or Do Not. There is No Try.

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.

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. Tap Into Mobile to Reach New Car Buyers

How do you build rela­tion­ships with tech­no­log­i­cally savvy, mobile buy­ers who have built a cul­ture around instant, text-based com­mu­ni­ca­tions, shop an aver­age of 18 auto­mo­tive sites in the search for a new car, and want “right now” inter­ac­tions with dealers?

In this work­shop, you will learn how mobile tech­nol­ogy appli­ca­tions are being adopted by deal­er­ships in sales, ser­vice, parts, and the busi­ness office — with sur­pris­ing effects on cus­tomer sat­is­fac­tion, employee reten­tion, com­pli­ance, and oper­a­tional processes. You will gain an under­stand­ing of cur­rent mobile trends, pri­or­i­ties for use of mobile solu­tions, and assess­ment of your dealership’s abil­ity to man­age new mobile tech­nolo­gies. You will learn spe­cific meth­ods for cre­at­ing a more-engaging cus­tomer expe­ri­ence on web­sites, mobile devices, and in mobile advertising.

Pre­sen­ters:
John Hanger, Con­tact At Once!, Alpharetta, GA;
John Reed, Domin­ion Dealer Solu­tions, Nor­folk, VA

2. Word-of-Mouth Mar­ket­ing: Get Your Brand Out There!

Gen Y’er John Moore has helped trans­form the way busi­nesses look at mar­ket­ing and brand­ing. In this work­shop he will share action­able insights into how auto deal­er­ships can fol­low the Star­bucks and Whole Food Mar­ket blue­prints to build endear­ing and endur­ing busi­nesses through brand­ing and word-of-mouth mar­ket­ing. USA Today, Best Buy, Kraft, Lit­tle Cae­sars, Proc­ter & Gam­ble, and oth­ers have all ben­e­fited from Moore’s mar­ket­ing expertise.

Pre­sen­ter:
John Moore, Brains on Fire, Greenville, SC






Dealer Resources 
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NADA University
One Source, Endless Possibilities, 24/7.




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