Black Book, known in the automotive industry for providing timely, independent and precise vehicle pricing information, announced today its latest joint U.S. Vehicle Depreciation and Auto Asset Backed Securities (ABS) report with Fitch Ratings. Black Book forecasts an annual depreciation rate of 15% in 2019 as the supply of used cars and trucks increases, up from noticeably strong 12.4% depreciation rate in 2018. The latest jointly issued report can be downloaded by clicking…

Every day, dealers are faced with multiple decisions about various facets of their business. Among them: constantly trying to decide if they should invest in buying leads to conquest more consumers or if they should spend more to retain existing customers. At the same time, they often lack the information required to choose the best course of action. In fact,…

Congratulations! Kansas Senate Bill No.39 takes effect July 1, 2019, this legislation requires manufacturers to reimburse Retail on Warranty Parts and Labor. We assist dealerships across the country to receive retail on warranty. Margin Plus client’s…

Lease Approval Ratings in March Reach Their Highest Rate Since October of 2018 with an Increase of 4.8% this month

CINCINNATI, OHIO (April 10, 2019) – Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 70.7% approval rate in March, a rise from the February rate of 65.9%.

March experienced a higher number of applicants with qualifications that led to more…

Freight and transport is a service that requires filling out a lot of paperwork with so many things to go through. The abundance of paperwork to sign and complete can deter people from going direct to car carrier companies and instead get the aid of a transport broker. However, brokers are a middle man and add little value to the overall transaction. It can…

It is almost funny as I travel visiting dealerships in just about every demographic group the very successful ones all have the same thing in common. Their sales departments are highly trained on salesmanship. It is great to have product knowledge the factory spends hundreds of millions training your salespersons and managers on product. The most amazing product knowledge salesperson I ever had the pleasure to meet was a 5 to 8 car producer in a 140 unit store with 10 salespersons to…

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…

We want you to be profitable and proud of what you do. We want you to have all the success that you deserve. We want you to know that it’s possible for you! That’s exactly why we started the video series, “Quality of…

Index Continues To Lose Momentum But Expects Quick Jolt from April Spring Season

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 March (113.8), a -0.6%…

You know that the most exciting time for you as a vehicle owner is when that “new car day” happens. That is the time when you will like it’s your second birthday! You are overcome with a sense of joy and those tiny butterflies that are flying in your stomach as you contemplate if you broke the bank with the purchase.

A new vehicle or pre-owned purchase can be a bit of…

In this blog I’d like to talk a little bit about American with Disabilities Act (ADA) accessibility and your websites, quickly covering some emerging issues and simple corrective actions you can take.

If you are an auto dealer in Florida or New York, your website is likely under scrutiny by lawyers representing potential customers. They review…

We live in a world where new technology swirls around us at a relentless and often dizzying pace, yet as we look closer inside the automotive industry and one particular area - the CRM - the winds are very calm, and the marketplace solutions aren’t keeping pace with innovation outside of the industry. In a nutshell we are operating in an innovation rut…

How long does it take to build customer loyalty? It might start with a great sales experience, but if a customer feels like they've been taken advantage of in the sales process, it will be hard convincing them to come back for service. True customer loyalty is built over a period of several years in the service drive.

But providing a great…

There are three huge ways to transform the Social Media at your Dealership

Tell Your Story

Telling your Digital Story is a huge step in the right direction. In the most recent quarterly conference call, Facebook CEO Mark Zuckerberg indicated that stories were the next big thing, and he’s a guy that knows the next big…

With automotive sales at an extreme low, your customers are now planning on seeing your service team another one or two times before they buy a new car. What does this mean for you? One or two more chances to make a lasting impression! We all know the saying "sales sells the first, service sells the second". This week, Jeff will go over specific steps to make your best impression and guarantee your customers come back with their new vehicle. Copyright 2019 Wm Jeff Cowan

Website:…

In our video series Quality of Life, we’ve been exploring…

When you buy something online, checkout can take mere seconds. And chances are good that your credit card was saved from previous transactions, meaning you just have to click the checkout button and your order is submitted. At the grocery store, checkout takes maybe a few minutes—if you have to insert your card and wait for a receipt. So it comes as no…

What Customers are Thinking in YOUR Dealership

When a woman shops at your dealership, do you know what she is thinking? Do you know what is important to her? While that may seem impossible, reports and data show surprising consistency…

Many businesses focus on improving customer convenience as a means to expand their reach and volume of commerce. It’s not just Internet companies such as Amazon, but some of the most substantial brick and mortar chains, including Wal-Mart, Costco, Best Buy, Office Depot and several major grocery store chains. Adding options that increase customer convenience…

Recently I talked to a dealer whose internal information technology (IT) person had quit suddenly after receiving another job offer. The dealer scrambled to find someone else. He hired a small, local IT firm that soon went out of business. Once again, the dealer scrambled to find a solution.

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