The report below first appeared yesterday on LinkedIn as a market update report posted by Rapid Recon, from an interview with preowned performance improvement consultant Ed French to address midsummer market perspectives. Ed is president and principal consultant of AutoProfit, and he is also a member of the Board of Directors for used car retailers TruWorth Auto in the Indianapolis, Indiana, area.
The market's adjusting, for reasons of affordability, which…
ContinueAdded by Jim Leman on July 15, 2021 at 10:03am — No Comments
Added by DealerELITE on July 14, 2021 at 2:26pm — No Comments
With virtually no new cars on the ground and used cars hard to come by, a lot of salespeople are sitting idle right now. Put them to work sending targeted emails to customers and prospects.
Consistent communication is the best way to keep customers in your pipeline, instead of on your competitor’s vehicle waiting list. Many customers are…
ContinueAdded by Dan Dillingham on July 14, 2021 at 2:22pm — No Comments
“Inspect what you expect” is a well-known business phrase that I think is particularly applicable to our industry today. That’s because many dealership employees have a LOT of time on their hands right now. Why not re-direct that time towards everyday tasks that you expect are getting done, but often don’t have the time to…
ContinueAdded by Travis Peterson on July 14, 2021 at 11:30am — No Comments
The addition of financial integrations and online retailing capabilities will provide dealerships with expanded options to attract and convert shoppers more quickly and efficiently, while providing a more seamless, personalized shopping experience to their customers.
ATLANTA – (July 12, 2021) – PureCars®, a leading martech and advertising intelligence provider for automotive retailers and marketers, today announced its acquisition of…
ContinueAdded by John Sternal on July 12, 2021 at 10:21am — No Comments
You’re not closing as many leads as you want, but you can’t figure out how to improve the situation. Your sales team is jumping on hot leads and setting follow-up reminders in the CRM, but your closing ratio is still below the 12.5 percent industry…
ContinueAdded by JoAnn Bedenbaugh on July 6, 2021 at 1:01pm — No Comments
Today’s consumers demand, and deserve, a fast and modern (digital) way to buy cars. Our industry has taken great strides to get there, but we still have a way to go. Especially when it comes to F&I.
The F&I process sucks time. It’s unlikely that buying a car will ever be as quick as picking up a few things at Target, but it doesn’t…
ContinueAdded by Philip R Spagnoli on July 6, 2021 at 10:23am — No Comments
Part of the vehicle sales process is to learn the customer’s needs and wants. You probably encounter a large number of consumers who don’t know exactly what they want (or need). In fact, it isn’t unusual for an online lead to provide no additional information other than the vehicle they are interested in. Reaching the consumer to learn more about them and…
ContinueAdded by Timmy D. James on July 6, 2021 at 9:32am — No Comments
“Blind Spots” is a fact-based guidebook for automotive retailers, providing proven, easily executable solutions that help them reduce their ad costs per sale and repair order (RO), increase market share, boost their profitability and gain a powerful advantage over their competition.
ATLANTA – (June 29, 2021) – For many years, auto dealers have operated under the same playbook but have been expecting different results that are…
ContinueAdded by John Sternal on July 1, 2021 at 10:41am — No Comments
Everyone wants to be heard. Yet the person you’re speaking to isn’t always listening. Customers seek someone to understand their goals, deliver a solution, and facilitate a purchase experience. To do this well, though, requires being skilled in active listening. Do your salespeople understand that listening is a skillset?
Whether it be on the phone or in-person, every good salesperson must pay undivided attention…
Added by Joe Webb on June 30, 2021 at 1:50pm — No Comments
I’ve read a lot of articles lately about how dealers took a digital leap forward in 2020 due to the pandemic. In the majority of cases, this means they added digital retailing tools to their websites. Did anything else change?
I’d argue, no. In most cases, dealerships…
ContinueAdded by Philip R Spagnoli on June 30, 2021 at 1:30pm — No Comments
Of the 44% of Car Shoppers Who Plan to Purchase This July Fourth Weekend, More Than Half Intend to Buy U.S.-Based Brands
CHICAGO, June 30, 2021 — Leading digital automotive marketplace and solutions provider Cars.comTM…
Added by Allison Phelps on June 30, 2021 at 9:43am — No Comments
Online Car-Shopping Marketplace Launches Fresh, New Look and Features to 26 Million Monthly Visitors and Nearly 20,000 Local Dealers
CHICAGO, June 28, 2021 — Cars.comTM (NYSE: CARS), a…
Added by Allison Phelps on June 29, 2021 at 5:45pm — No Comments
A word that seems to be coming up often these days is patience. Many companies incorporate it into their script while you’re on hold or inconvenienced by the company using it. They are so bold you will be thanked for it even when you are not feeling it.
Whether or not you are practicing it, patience is something we should be developing in our daily lives. A lack of…
Added by Rob Gehring on June 29, 2021 at 3:30pm — No Comments
Hello again, my friends! We’re so happy to have you on this journey we’re calling Ali Reda’s Road to Sales Success. We’ve been learning all about how to get to that next level - YOUR next level……
ContinueAdded by Damian Boudreaux on June 28, 2021 at 11:30am — No Comments
An insightful article in Forbes details the rise – and expected fall – for used car values. Interestingly enough, the article chose the wording for the headline to include “crash” and “brace for impact.” There…
ContinueAdded by Sean Reyes on June 28, 2021 at 9:36am — No Comments
You heard right! Legislation has passed in the state of Tennessee effective July 1st that will allow you to submit for an increase regarding your current warranty labor rates and parts margins from your current levels, up to full retail!
Tennessee has now passed this legislation, which…
Added by Rob Gehring on June 24, 2021 at 7:00am — No Comments
Detroit Three, Honda, Toyota Also Top 2021 Index, With GM Claiming the Most Spots
Americans Care Where Their Cars Are Made, Buying Non-American Considered “Unpatriotic” by More than a Quarter of Americans
CHICAGO, June 23, 2021 — Leading digital automotive marketplace…
ContinueAdded by Allison Phelps on June 23, 2021 at 3:57pm — No Comments
Floor planning is not a new topic; but it’s gotten a lot more interesting lately. As Auto News reported in a recent article, floorplan swung from a $96-per-vehicle-expense on average in 2019 to a $140-per-vehicle gain last year. The gains are attributed to slim vehicle…
ContinueAdded by Travis Peterson on June 23, 2021 at 7:37am — No Comments
Today’s car buyers are usually excited to show off their new car to their friends, families, and associates, either in person or by posting a video of their new vehicle on social media. This creates a huge opportunity for your dealership to earn sales referral business while building a strong library of customer testimonials to utilize across all your online…
ContinueAdded by Timmy D. James on June 23, 2021 at 6:11am — No Comments
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