Strategic partnership enhances digital capabilities for combined customer base

Chicago, IL- September 17, 2018- Affinitiv announced today the strategic acquisition of Caldwell & Kerr Enterprises. Affinitiv, an industry leading provider of customized, omni-channel owner retention programs and innovative…

Albany, NY – September 17, 2018​ – Auto/Mate Dealership Systems has integrated its dealership management system (DMS) with Kimoby, a leading provider of web-based communications solutions. Auto/Mate customers now have the opportunity to use Kimoby’s advanced texting, multimedia messaging and mobile payment platform.

"Kimoby allows dealers to communicate more effectively with service customers by leveraging their customers’ preferred communication channel,"…

Precise Valuations Reduces Losses, Helps Lenders Expand Portfolio Profit Potential

Black Book, a division of Hearst that provides industry-leading used vehicle valuation and residual value forecast solutions, today announced its History Adjusted Valuations (HAV) data and resources will be integrated into an interface with defi SOLUTIONS, a leading innovator in lending industry software.

History-Adjusted Valuations…

Many consider Michael Jordan one of the greatest, if not THE greatest, basketball player who ever lived. He also made some thought-provoking statements. One I find really interesting and words from which we can all learn is this:

“I’ve missed more than 9,000 shots in my career. I’ve lost almost 300 games. Twenty-six times, I’ve been trusted to…

This week, Jeff addresses the confusion about processes on the service drive. Which process or leader do you follow? Do you even have a process? Stay tuned to hear the importance of having a process, what results it will get you, and how to implement one properly. Copyright 2018 Wm Jeff Cowan

Website: AutomotiveServiceTraining.com

Click HERE to watch!…

At one point in time or another, we’ve all heard someone in our lives tell inform us that money doesn’t grow on trees. And they would be right. Technically.

The facts are, however, that the phrase started because sometimes there is money (revenue) that is simply waiting to be taken by businesses. There are a lot of revenue sources in dealerships and while those sources haven’t changed much in a century, the way in which dealerships can harvest…

Women buy 45% of all vehicles at new car dealers today. Still, less than 1 in 10 front-line positions are held by women. Does it matter if women consumers deal with women or men sales consultants during their shopping and buying experience?

Yes, it does.

In an industry-first national report,…

Columbus, OH, September 12, 2018 – Clarivoy, a pioneer and leader in automotive marketing attribution, today announced it has been recognized as one of the 2019 10 Best Tech Startups in Columbus by the Tech Tribune.  

Founded in 2017, The Tech Tribune delivers the latest technology news, in-depth technology articles, and insights on the hottest technology startups all over the world. The Tribune staff…

If you hold a management position in the retail automotive industry, you’ve probably had a customer attempt to leverage something to get what they want. Whether it was an unreasonable request, or simply a last-ditch effort to get a perceived wrong made right, many of you will have run into this situation.

In the past, a customer’s leverage was typically the…

The latest auto credit trends as reported by Equifax through May 2018 :

Total outstanding auto portfolio balance is now 1.27T (passed 1 ¼-mark). 

Auto Loan Originations Observations through May 2018 reported as of July 2018:

• 10.2 million auto loans, totaling $230.6 billion, have been originated year-to-date. This is a 1.1% increase in accounts and a 3.2% increase in balances over this time last year. Auto loans represent 85.9% of…

Welcome to this week's edition of Black Book Market Insights, with in-depth analysis of used car and truck valuation trends and insights straight from the auction lanes. Click here to download the full…

This week, Jeff covers how to break down the walls from clients who come in and expect to be "up-sold". First, we must close the customer on simply giving the presentation. To do so, use the "I'm Not Going to Sell You Anything!" close. Stay tuned for the roleplay scenario. Copyright 2018 Wm Jeff Cowan

Website: TheJeffCowan.com

Click HERE to watch!…

Lease Approval Ratings in August Reach Their Highest Number Yet for 2018

Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 72.6% approval rate in August, a rise from the July rate of 71.2%.

August experienced a higher number of applicants with qualifications that led to more approvals for taking over another person’s lease contract during the month. August saw a slight increase in approval ratings from August…

Bart Barna has over 15 years of experience in the dealership world. After his Honorable discharge from the U.S. Navy, he started his career in Automotive Sales. Then Bart started working his way up through management becoming a Finance Manager, Sales Manager, General Sales Manager and then a General Manager. We asked Bart what his favorite thing about being a manager was-is and he…

Few would argue that incoming inventory is just as important as outgoing inventory. Yes, sales are what it’s all about but, the next generation of vehicles in…

Videos of happy customers generate more online reviews and website visits  

Newport Beach, CA – September 10, 2018 – In the six-month period from February through July 2018, Downey Nissan, California’s #1 volume Nissan dealer, experienced a viral lift of 627 percent in their social media marketing program, attributed to videos sent out by Vboost, an automotive…

When you are purchasing a new car it will be crucial to know about some of the important data regarding the condition of the vehicle. With revs check you will be able to do the same. The report associated with this check will have simple demonstration of the various facts related to the vehicle you are going to purchase.

This checking is…

With the fourth-quarter in sight, now’s the time to be planning for ways to end the year strong and insure you maximize your dollars and their effectiveness.  One way is to make sure you evaluate how you maximize OEM reimbursements and move more inventory.  Co-op funds can substantially improve a dealer’s ROI by reimbursing up to 50% of your marketing spend.   Think about…

Do you know your customers’ lifetime value (CLV)? CLV defines the monetary value of your customer relationship by how much gross profit they have generated for your dealership.

If you divide your customer database into quintiles, you’ll discover that the top 20 percent is responsible for 79 percent of your gross profits, while the bottom 20 percent are net…

Great Value in Used Cars from Off-Lease Inventory Drives Monthly Increase That Eclipses Last Year’s Hurricane-Fueled Replacement Activity

Black Book, a division of Hearst that provides industry-leading used vehicle valuation and residual value forecast solutions, released its Used Vehicle Retention Index for August, with a significant month-over-month increase of +1.4%. The change last month marks the largest single-month increase since…