Sales profit margins are getting smaller, and dealerships are looking to service as the profit-making aspect of their business. And there’s one area of service that’s particularly overlooked, especially for how much revenue it can generate:…

This week’s Market Insights Report looks at the spring market, with data showing it extending into a seventh week. The report also offers a glimpse into the latest Specialty Markets, and a spotlight on the three-year retention trends of Compact Vans, which have shown really strong performance this year. Model Year 2016 values are currently at 49% of MSRP, the strongest three-year retention seen in four years.

“Markets registered a slight uptick last week, even after car prices have…

In this video blog, I discuss whether or not car dealerships should be worried about Amazon entering the retail vehicle sales space.

https://youtu.be/1DSwn26jmCo

Despite Recent Decline, Index Is Still Higher Than Its Level A Year Ago

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 April (113.6), a -0.2% change from March (113.8). Despite the Index now falling for five straight months it is still 1.4% higher than a year ago (112.0).…

While five years ago the range of cargo vans was limited, today automobile biggies like Ford, Nissan and Benz have raised the stakes. Here, we’re comparing the best cargo van models for commercial use.

For many companies, cargo vans with commercial vehicle insurance are an integral part of their daily schedule. Whether it’s a catering company, an e-commerce website that delivers goods purchased online or a florist, these closed vans offer ease of transport combined…

One of the biggest challenges for dealers today is knowing which marketing channels deliver the best reach, frequency and ROI. For marketers everywhere, it can be difficult to reach an intended audience, and when they do, many times the audience isn't paying attention.

Take television, for example. Many dealerships still create and air…

Leverages Black Book’s Most Precise Valuation Resources for Automotive Professionals  

Black Book, known in the automotive industry for providing timely, independent and precise vehicle pricing information, announced today it has integrated General Motors’ Build Data into the company’s VIN Decode and valuations data, resulting in even higher precision of valuations of General Motors vehicles. Build Data is “as built” content in a vehicle,…

When it comes to social media, some dealers are uncertain of its benefits or unwilling to pay for the reach – and in some cases, both. Well, it is worth getting on the bandwagon as social media usage continues to expand with projections of over 3 BILLION users by 2021.

An interesting…

Walk-ins are a major source of dealership traffic. On the one hand, that’s great for dealerships, because it means less time chasing down leads, since customers simply show up at your door. But it also means that when walk-ins dry up, so does a major portion of revenue. So how can you get more people in the door, prepped and ready to…

I have been studying Amazon and unknown to me, they seem to follow the same principle that I promote to dealers. I call it the Circle of Convenience and Trust.

Amazon obsesses about convenience. I am sure some of you suffer from the "brown box syndrome." A brown box arrives on your doorstep every day. Amazon makes it so easy that I…

Learn how to protect your customer data, bank accounts & reputation Wednesday, May 15 at 2 pm EST

Timonium, MD –­ May 2, 2019 –­ Helion Technologies is offering a free online webinar titled "Cyber Criminals are Targeting Your Dealership! Are You Prepared?" In this presentation, Helion's President…

I'm attempting to understand why dealers are unaware of the power and weight that their online presence plays when it comes to how successful they could be in the pursuit of selling to their customers... Then it hit me.

Most general managers and dealers are of the era when closing the transaction depended entirely upon the salesperson and many were…

For dealers, the digital retail space is filled with more hype than ever. Digital retail companies promise a future with increased conversion rates, higher gross margins, and better customer experience to boot.

And the truth is…it works! Digital retail can do all of those things and more. But there’s another truth most vendors won’t tell you.…

We have all had moments we wished we could do-over. For anyone who saw Avengers Endgame, you understand the value of "undoing" cannot be overstated. So what do we do when against our best efforts to build a strong customer-centric reputation we end up with poor ratings online?

In a slower market, our online reputation can impact be the…

ECO Inspection offers complete features for Visual and Functional Assessment, Wheel Assembly, Checking the Vehicle Interior & Exterior. It helps to maintain the Vehicle. https://ecoinspection.in/features

Welcome back, my friends, to our video series, Quality of Life!

We’ve been discussing Ali’s record-breaking month in December of 2018 and how he used the Five Pillars of High…

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 report.

This week’s Market Insights Report…

The power of the pixel is immeasurable. It’s why CEOs of digital powerhouses are being summoned to testify in Washington, DC.

Congressional testimony aside, companies use pixels to track consumer behavior throughout their web journey in order to understand, advertise and monetize.

Facebook and Google tracking don’t stop with…

This is a real question you have to ask yourself if you want to survive the automotive industry. Are you willing to do what it takes to be successful each and every day to not just work a job, but to build a career? There are many people who started in the automotive industry as a crutch until they found a “better” job. Only a small percentage, however, end…