The technician shortage is a common concern across the United States and everybody is looking for solutions. Many dealerships are placing ads looking for experienced technicians with little response from qualified applicants. The focus is on the immediate need without an understanding of the overall solution. I understand immediate needs…

Want to differentiate your store from others and grow your top and bottom line numbers? Women are now buying 45% of all cars at new car dealerships, which translates into an average of 620 new and used vehicles combined annually.

What processes can be implemented for ups, guests, and women shoppers to optimize their experience at your dealership, especially the ones who walk in and say they’re just looking? Do your front-line people think these guests aren’t serious and ignore them or…

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. …

The Seven Culture Killers

There are certain behaviors that, if practiced by the leader or permitted to exist in the office by the leader, will absolutely kill office morale and make our business a miserable place to work. They are behaviors so destructive that, if allowed to take root, will run off the talented individuals you need on your team. These culture killers are:

• Big Ego and Arrogance — This is…

Here are some key concepts I’ve learned both from my mentors and from my own life experience — to maintain a success-oriented attitude. The common element to each of these is that you have to take Action:

• Surround Yourself with Mentors/Role Models — Build a circle of positive people who dream bigger and think bigger than you do. Whenever possible, dump…

Black Book, a division of Hearst Business Media that provides industry-leading used vehicle valuation and residual value forecast solutions, announced today its release of new Economic Scenario-Based Residuals, available to lenders and financial institutions with a portfolio of auto loans. Black Book has mapped regulatory prescribed scenarios for this new suite of residual data, enabling risk and portfolio managers the ability to analyze how vehicle values will…

Being a sales associate can have many challenges, especially in the automotive world where there are several sales associates in one place all with the same objective…to sell cars.  It’s not enough just to show up in the morning, you have to be on top of your game in all areas so you can really shine.  There are several things you can do on a daily basis to stand out and…

I recently spoke at a conference in Orlando. After my presentation, I noticed a workshop on the schedule: “How to recruit and keep your technicians.” I ran down the hall to a room packed like sardines. The conference-goers were anxious to attend because someone was finally going to share the magic bullet! A woman approached the podium. We awaited her message with anxious…

Yesterday, I posted a short article about perfecting the automotive internet sales process and a LinkedIn connection asked, “Why do you still write so much about process?”

Why I Still Write About Process (and Why You Should Care)

With all the cool,…

One Size Fits All No Longer Applies

According to the NADA, new vehicle revenue in 2016 was $995 billion, and sales to women accounted for $445 billion of that revenue at new car dealerships. With women buying 4.5 of every 10 cars, how can you increase your sales to women by 7% to 10%?

Ten years ago, the ad spend was all in…

The information that the technician provides the manufacturer is one of the most vital sources of product improvement information that the manufacturer can get! So by writing your comments well, you are doing what you do best to not only help the customer but also keep vehicles functioning and improving. You are what helps us get kids to school,…

Auto dealerships are constantly focused on team building to reduce employee turnover and increase sales. But, it can be daunting to find good salespeople and service associates who will drive revenue and have good customer service skills to improve your Customer Satisfaction Index (CSI) Scores.

That’s why auto dealers need tools to ask the right interview questions to…

According to Black Book® data, the average price of a used vehicle for model years 2012-2016 depreciated in value by -0.7%. Cars overall dropped -1.1% and trucks decreased -0.3% in value during September. All vehicles are averaging a 12-month depreciation of -14.5%, assisted by heightened vehicle replacement activity following Hurricanes Harvey and Irma.

Four vehicle segments increased in value in…

An open letter to all US market, dealership management:

We are offering to deliver 45 - 200+ highly-qualified buyers to your showroom, in the next 30 days, for $100 or less per Up; buyers that have already entered your market to buy, delivered to your dealership after seeing your offer." 

"No gimmicks, no BS, just verified buyers, actively looking to PURCHASE a vehicle in your market now...You get a bare minimum of 45 highly qualified…

I have watched countless presentations from dealers who want a change from their employees. Generally, these discussions don’t go well and the tone of the dealer is one of superiority that controls the conversation and doesn’t ask for input. Their authority is never in question and I am confident all of…

Reshaping The Industry’s Economy

The millennial. Individuals born between 1980 and 2000 comprise ‘one of the largest generations in history’. In a recent article “Millennials Coming of Age”, by Goldman Sachs, millennials are not only poised to reshape the economy, but are about to move into prime spending years. Millennials overtook Baby Boomers, ages 51 to 69, as the largest generation according to the U.S. Census Bureau.

Women of all age groups are…

Black Book, a division of Hearst Business Media that provides industry-leading used vehicle valuation and residual value forecast solutions, released its Used Vehicle Retention Index for September, with the Index increasing from 112.6 to 113.9, its largest month-over-month gain since March 2012. Click here to obtain a copy of the latest index data.…