Pick a number and live it every day, with every deal. The target could be a volume number, gross number or both. Sure, you will have other targets such as CSI or occasional targets set by the manufacturer for incentive purposes, but I’m talking about a number that simplifies your expectations and your agreement with all…

Black Book, a division of Hearst that provides industry-leading used vehicle valuation and residual value forecast solutions, announced today a new inventory recommendation solution named Black Book Cherry. Available on desktop or mobile, Black Book Cherry helps personalize dealers’ inventory discovery by automatically identifying the most desirable vehicles at auction, appropriately known as “cherries”.…

As the cost of vehicles goes up, leasing is making a strong rebound in the market.  OEM and dealer advertising are putting a strong focus on their lease programs. And with extra money in their pockets (tax breaks, increased salaries, etc.) consumers are looking to upgrade their vehicles.  All this is good news for auto retailers.

The issue from a transparency viewpoint is the “low monthly payment and big down payment” advertising to lure consumers into the dealership.  At this point…

Tim James shares why simply having video content isn’t enough in the second video blog in this series.

Most dealerships at the very least conduct some form of multi-point inspection and inform the customer about any needed repairs discovered during the inspection. But what happens if those recommendations aren’t properly documented?

Well, failing to document those recommendations can be an expensive mistake – and not just because you miss out on any future…

The art of public relations has changed dramatically in recent years and now includes a myriad of services and possibilities. Today’s consumers are exposed to as many as 10,000 brand messages per day and, to break through this noise barrier, public relations must adjust methodologies accordingly. While this is certainly a challenge, there is a way to make things a tad…

Let’s be honest: performing any distracting activity on the wheel is not advisable. Although vaping while driving is not illegal, one of your hands is busy holding an e-cig and your focus on the road may be possibly reduced. If you still want to enjoy your electronic device in the car, you should…

The "Everything Automotive" Company Honors American Heroes Serving Country and Community with a Sweepstakes Featuring Cash, Prizes, and a Trip to Las Vegas to Pick Up a Custom 2017 Ram Truck

 

CARSON, Calif., April 26, 2018 -- U.S. Auto Parts…

This week, Jeff discusses another mistake service advisors make: they fear their customer! Whether it is fear of telling them the truth, fear of asking for the sale, fear of a bad survey score, or fear of a heat case, it is a huge problem! Learn how to tackle the fear, embrace each customer, and turn around your sales and survey scores. Copyright 2018 Wm Jeff Cowan

Website: automotiveservicetraining.com

Click…

Years ago someone shared with me that old maxim "you gotta throw some spaghetti at the wall and see if it sticks".  So it seems that if one flings pasta at the wall, a fully cooked noodle will stick, one that has not finished cooking will not. Somewhere in time a little boy or girl watched grandma do this, connected this imagery to the trying new ideas and suddenly a clever new boardroom analogy was born!…

Black Book has some new insight showing increased collector interest in Japanese cars from the 1960s/1970s.  Many of the below cars and trucks were in the “first wave” of Japanese vehicles, and were radically different from the typical large American cars of the time.

"Over the last few years, collectors have shown increased interest in the first generation Japanese imports, such as Honda Civics.  For years these cars were overlooked, but have recently become sought after, especially…

Keep your customers by keeping your employees.

Employee turnover in the automotive industry has increased to 43%⁽¹⁾. We know that turnover takes a big bite out of our profits in every department, but in the service department, it’s also costing you customers. Your clients like to see the same people each time they bring in their car…

Did you know that the self-improvement industry in the U.S. is a $10 billion market? That means there are a lot of people out there who are not achieving their goals. Of course, there are also dozens, if not hundreds of self-help gurus taking advantage of this situation and dishing out advice on how to be successful.…

VEHICLE BUYBACK PROGRAM

Black Book, a division of Hearst that provides industry-leading used vehicle valuation and residual value forecast solutions, announced today it has partnered with Mobility Sales Solutions and its new Vin-Up™ solution for automotive dealers and their service…

30-Second Snapshot:

It is never ok to change the tech number on a repair order. That is fraud and will result in a chargeback in a factory audit. Always make sure your tech is certified for the repair before they begin.

We recommend the following:

• Check the manufacturer's…

Atlanta, GA – April 24, 2018 – ELEAD1ONE today released a free eBook called “The Auto Dealer’s Guide to Digital Retailing.” Designed to be a resource for dealers, the eBook presents an in-depth review of the challenges involved with purchasing a vehicle online, and of current consumer and dealer expectations. Additionally, the eBook shares practical tips on how to prepare a dealership for changes associated with…

This week, Jeff discusses a golden sales rule: never stop dating your customers! By "dating", you are staying loyal, engaged, building rapport, and showing expert salesmanship. Some simple ways include writing a handwritten thank you note, making a phone call just because, or grabbing a small gift simply because you appreciate their business. No up-selling or advertising! Simply dating your customers, because when you stop, someone else will! Copyright 2018 Wm Jeff Cowan

Website:…

Below are some additional data points from a recent consumer credit trends study conducted by Equifax. The initial release highlighted trends in awareness of credit amongst Millennials and Baby Boomers, as well as affordability expectations of Prime and Subprime shoppers. The online survey was conducted…

Jumpstart Automotive Media, a leading media, insights, and marketing solutions company, today released its monthly shopper interest data, with results showing increased shopper interest in key vehicle refreshes and upcoming launches, as well as pickups, utility vehicles and certain car segments during the month of March.

All three segments 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. …