January 21, 2014
Quick Reads: Six in 60
TODAY'S TOP 6 STORIES, IN 60 SECONDS

connected-car 1. Consumers Wary of Connected Car Technology & Tech Group Push

  • OEMs spend­ing bun­dles on research and innovation
  • Tech groups like Google, IBM, Microsoft putting pres­sure on OEMs
  • Self-driving cars, smart phones, and con­nected cars are the focus

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Financial Times
dollar-car 2. California Group Proposing Ban on Dealers Marking Up Auto Loan Interest Rates

  • Work­ing to gather 800,000 sig­na­tures to get on CA Bal­lot in November
  • Calls dealer loan inter­est add-on a “hid­den extra charge”
  • Seeks to get deal­ers away from any kind of markup that cov­ers costs

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zero-apr 3. $1,000 Cash Incentives Driving Down Used Car Values by More Than $500

  • Deal­ers pay­ing cash incen­tives are severely impact­ing used car val­ues later on
  • Cash incen­tives have 3x the impact on resid­ual val­ues as finance incentives
  • Actu­ally “loss of value” for cash incen­tives was $563 for one-year-old model

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Auto Remarketing
andrew-lindstrom

VIDEO: Investing in an Image Program

How much deal­ers are invest­ing in LED light­ing really depends on how much they want to imme­di­ately improve the image, look, and brand­ing of their store. And the money is invested will gen­er­ally be recov­ered in 2 to 4 years.

VIDEO: Innovations in LED Lighting
cree-lit-lot
  Cree is LED Lighting
 

In the words of Cree CEO Chuck Swo­boda, “It starts with the idea of relent­less inno­va­tion — a belief that any­thing is pos­si­ble.” Learn how Cree has pio­neered the LED rev­o­lu­tion by reach­ing higher, redis­cov­er­ing and by chang­ing the way we expe­ri­ence light.

VIDEO: Making the Sale
joe-verde
  Joe Verde: “Closing The Sale & Overcoming Objections”
 

Ready to make more money? You will when you close more sales and over­come objec­tions the Joe Verde way. “Clos­ing The Sale & Over­com­ing Objec­tions” is a vir­tual sales train­ing course on JVTN.





More Six in 60
MORE OF TODAY'S TOP 6 STORIES

jaguar 4. Land Rover Jaguar Making Comeback to Challenge BMW, Audi, & MB

  • Tak­ing on the big­ger lux­ury brands after 3 years of suc­cess­ful growth
  • Record 2013 sales of 425,006 & build­ing fac­to­ries to meet 2014 projections’
  • Invest­ing $1B in joint ven­ture with Chery Auto­mo­tive in China

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cyber thief 5. Data Hack Only Beginning, Could Move to OEM & Dealer Customer & Loan Files

  • The Tar­get hack was bad; but it’s only the beginning
  •  States are inves­ti­gat­ing; Con­gress demand­ing & con­sumers fuming
  • Need for con­sumer edu­ca­tion & con­ver­sa­tion with retail­ers, Feds & credit card companies

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Penny 6. Auto Industry & Dealer Innovation Gets Accolades from Commerce Secretary

  • Com­merce Penny Pritzker lauded Detroit’s resilient auto­mo­tive industry
  • Gave credit for scores of inno­va­tors in Detroit Econ Club speech
  • Empha­sized impor­tance of auto man­u­fac­tur­ing, hous­ing mar­ket & immigration

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Doing It Right  
EXPERT ADVICE FROM SEAN HARRIS AT CREE, INC.

Your Deal­er­ship is Energy Inten­sive: Auto­mo­tive deal­er­ships are an energy-intensive indus­try, with facil­i­ties con­sum­ing about 110 kBTU per square foot, com­pared to prime office space at 93 kBTU accord­ing to the EPA Energy Star Program.

Top Pri­or­ity for Dealer Man­age­ment: Light­ing effi­ciency should be a new-construction top pri­or­ity and a bottom-line upgrade for exist­ing facil­i­ties. Retail­ers using out­dated light­ing tech­nolo­gies are sac­ri­fic­ing sig­nif­i­cant energy and main­te­nance sav­ings along with aes­thet­ics. Now LED light­ing pro­vides light qual­ity equal to — and in most cases bet­ter than — incum­bent light sources, for a truly no-compromise solution.

LED Light­ing Sells More Vehi­cles: In the auto­mo­tive deal­er­ship indus­try, retail­ers depend on their abil­ity to beau­ti­fully dis­play vehi­cles where cus­tomers make their first impres­sions — on the front line. Until recently, color qual­ity and per­for­mance exceed­ing 90 CRI was not a prac­ti­cal option for many out­door light­ing applications.

How to Add Curb Appeal to Your Deal­er­ship?  Market-leading LED light­ing inno­va­tor Cree, Inc. under­stands the poten­tial sales ben­e­fits of dra­mat­i­cally enhanc­ing curb appeal with more vivid col­ors, allow­ing deal­ers to keep sell­ing cars long after dark.

What To Do Next: If your deal­er­ship need a whole need look, LED light­ing can make a big dif­fer­ence. To learn more about what your deal­er­ship should and can do about reduc­ing energy expense and using a new light­ing sys­tem, read the rest of Sean’s arti­cle and more action­able infor­ma­tion.

 
 



Build a Better Dealership
SMART INSIGHTS FOR SMART DEALERS

thompson-bruceIsn’t It Time for a New Car Vehicle Management Tool?

No More Man­u­ally Man­ag­ing Your New & Used Car Inven­tory: I’m proud to write that new car inven­tory man­age­ment tools and ana­lyt­ics will be arriv­ing and intro­duced at this year’s NADA Con­ven­tion in New Orleans. There is sim­ply no rea­son for this vital com­po­nent of a dealer’s oper­a­tions to be ignored for inno­va­tion for this long. We’ve had used car inven­tory man­age­ment sys­tems in our indus­try since 2001.  A dozen years have passed and still deal­ers are forced to man­u­ally man­age new car inven­tory operations.

What is needed to bring an inno­v­a­tive new car inven­tory man­age­ment into your deal­er­ship? We need tools that help iden­tify which vehi­cle pack­ages and col­ors per­form the best. We need stock­ing tools to man­age order­ing and allo­ca­tions; and we need tools that pro­vide lever­age in push­ing back and nego­ti­at­ing with the OEMs.  We need to under­stand days sup­ply in our mar­kets and how our com­peti­tors are pric­ing their new inventory.

Now time for New Car Inven­tory Man­age­ment: Used car oper­a­tions have been totally trans­formed since 2001.  Now is the time for inno­va­tion in the new car space.  The mar­ket is for the tak­ing for the com­pany that is the first to mar­ket with a com­pre­hen­sive tool.

READ MORE to find out how your deal­er­ship can gain a fan­tas­tic new and used car inven­tory man­age­ment system.

 

Smart Thinking - Pass It On  
CASE STUDY

At Issue:

At Michael Jor­dan Nis­san in Durham, NC, folks were con­stantly replac­ing bulbs and bal­lasts and tol­er­at­ing the color shift­ing lights that made the deal­er­ship inven­tory look incon­sis­tent – all while pay­ing a pre­mium price to run and main­tain them.

“There’s noth­ing worse than cus­tomers walk­ing out into a dark lot to look at a new car and they can’t see.” – Man­ag­ing Part­ner Ray Vrscak

The Back­story:
In 1990, when Michael Jor­dan Nis­san opened in Durham, NC, the facil­ity was state-of-the-art. But times change, and in 2010, the man­age­ment team part­nered with Gontram Archi­tec­ture, to begin plan­ning for a ren­o­va­tion using the architect-led design and build model.

When ren­o­vat­ing the car deal­er­ship, they chose inte­rior and exte­rior LED lumi­naires from Cree, Inc. to pro­vide the industry’s best color qual­ity, effi­cacy and enhanced inven­tory appear­ance with sig­nif­i­cant energy and main­te­nance savings.

READ ON to Learn What Cree Did to Improve the Deal­er­ship Lighting.

And be sure to visit Cree True­White light­ing solu­tions to get ideas for your dealership!






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