Since Facebook has exploded, businesses have all rushed to capture their audience’s attention and leverage the platform’s marketing potential. In the beginning, gaining business exposure on Facebook’s platform was relatively inexpensive. As Facebook continued to modify its algorithm to appease its users and better monetize the platform when it went public, Facebook…

Vehicle Values With Historical Performance Can Greatly Increase Accuracy in Claims Adjustments

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 DIMONT, one of the largest providers of insurance claims adjusting and collateral loss…

Several Brands Increase Lease Prices by up to 54% on Vehicles of All Sizes as New Model-Year Units Enter Showroom; Interest Rate Hikes Take Effect

Wantalease.com, the nation’s first online car lease marketplace for new lease deals, reports the latest update on new lease offerings for the month of August.  Several automotive brands significantly raised prices on lease deals for mid-size and full-size cars, as well as pickups and SUVs. With rising interest rates on new vehicles…

Intuitively speaking, customer satisfaction and customer experience are the drivers of increased profitability at your dealership. Just think of it: if your customers are happy, they will bring you more business.

In most cases, this is a fact, and car dealers often report to see the connection between the two…

Decrease the Gender Gap and Increase Revenue

Changing Culture, Changing Tides

Women are buying 45% of all vehicles at new car dealers today. Further, whether purchasing for herself or as part of a couple, this market segment retains 100% of the “veto power” at the dealership. Still, less than 1 in 10 front-line positions are held by women.…

The sheer volume of leads many dealerships receive can be overwhelming. And, not only do they have to respond (hopefully quickly) to any new leads, they are also expected to follow up with those leads with a “buy or die” mentality. I can guarantee you that whoever is responsible for following up with leads can quickly be overwhelmed by their to-do list in the…

This week, Jeff covers the "You'll Be Glad You Did This" close. You presented the sale, the exciting updates, the accessories, and they want to think about it. Now, use this close to get a decision quick! It has a 70% closing ratio and can be used with any product or any industry. Copyright 2018 Wm Jeff Cowan

Website: automotiveservicetraining.com

Click HERE to watch!…

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…

In my last blog, I discussed how dealerships can lose significant profit by failing to merchandise vehicles efficiently. Simply put, you can’t sell something nobody knows you have. And, with thousands of competing vehicles available to car buyers online, a stock photo or “photo…

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…