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INDUSTRY NEWS IN THE LAST 24
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GM Hopes New Cruze Controls Small Car Market The Chevy Cruze rolls out this September, hoping to overcome small-car safety stigma and garner younger buyers worldwide. Quality and reliability will be key issues if GM wants to make the Cruze a key profitability player. Detroit News, June 21, 2010
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These Cars Will Cost You, if You Can Find One New models from BMW and Audi are selling, but with production levels down it may be hard to locate them on dealer lots. New BMW 5 series will be out this month with a selling price of $49,600. Subaru Legacy, VW GTI also on the hard-to-get list. MSNBC.msn.com, June 20, 2010
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CNW Measures Social Media's Impact as Used Sales Channel Social networking sites are exhibiting greater influence over used-car sales as more sellers use them to unload their used vehicles. Some 1.9 million offers in 2009 with 68.8 percent converted to sales, and 70 percent converted to sales so far in 2010. AutoRemarketing, June 21, 2010
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The used car market has turned transparent. And, with research showing that more than 50% of consumers are dissatisfied with their last trade-in experience, having a good, clear appraisal process in place is even more critical. Start with a realistic number based on current market conditions and you're halfway there to a satisfied customer and a more profitable bottom line.
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Daily clicks to increasing dealer revenue & profits
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Dealers: Access Inventory & Leads Outside the Store The Liquid Motors Mobile Portal Service will allow dealers to access their inventory and their leads and lead generating activities in real-time away from the dealership. making access and lead response times greatly improved from any Internet-enabled mobile device -- offering new-found freedom off the lot. at auction, etc. Contact Liquid Motors for more info.
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The Complete Guide to Telematics Now Available ReportsandReports will carry "The Complete Guide to Telematics in Europe and the USA", an annual report in an interactive, presentation format. The 270-page guide will include all available telematics services, clear explanations and definitions, overview of system architectures and more. Click here to browse the complete Report.
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| How-to’s by industry experts |
Dealership Financing Course Irrevocably ChangedIt wasn’t that long ago when car sales were brisk and dealership profits were strong, says Crowe Horwath. Buy-sells garnered very optimistic blue-sky, and dealership lending was a robust business for financial institutions. Then came September 15, 2008 -- the “Black Monday” when century-old investment institutions ceased to operate, setting off a wave of uncertainty that led eventually to unprecedented investment and oversight by the government to stabilize the financial markets. As a result, the key factors by which the health of a dealership’s operations are monitored and enforced have changed, which has had a severe effect on the dealer-lender relationship. Click here or click on the image to make sure your dealership financing is not at risk!
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| auto dealer sales & marketing |
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Make it Happen: Either Wait, or Create and Be Great By Hans Van Order
Stop waiting and start creating! Create strong relationships that last. People are starving for human contact – give it to them. Make the time investment and reap the rewards – or play the waiting game and… just wait.
I spend a lot of my time teaching salespeople how to follow up with their clients and prospects. By far the largest problem I face, which is echoed by the managers I work with across the country, isn’t just how to do it, it’s doing it in the first place – and then following up.
Not enough time to make phone calls? When I present proper follow-up techniques to a group of salespeople, I inevitably will hear, “I just don’t have time to make all those phone calls.” As soon as I hear it (and I always do) I immediately stop my presentation and start asking questions:
1. So, what you just told me is that you don’t have time to call your prospects or your clients. What are you doing with your time? 2. How many clients have you sold over the past three years? If they are good, this number is between 400 and 800.
Launch a campaign to reach clients right now Launch a campaign to reach out to all of your clients “just to say hello”. Remember that there is no better call to a customer than the call with no purpose. If the only time you ever call is when there is something in it for you – shame on you for your selfishness – and your loyalty numbers will reflect it.
Make the math work for you 600 clients = 450 messages left and 150 conversations. The 450 messages left is approximately 450 minutes and 150 conversations is approximately 450 minutes. Total time: 900 minutes or 15 hours. Approximately 40 minutes per working day over a month – I either talked personally to, or left a nice message for, every customer I sold a car to in the past three years.
Is “waiting” a work habit in your dealership? When I did an analysis on working habits within the auto industry, I found out the most popular activity is among sales representatives is “waiting.” They are waiting for an “up” to walk in or the phone to ring. Hans Van Order, President & CEO of UDC Momentum, can be reached at sales@udcnet.com or 888-284-5833.
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| bringing sales into service and service into sales |
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Brake Pad Installation Must Include Complete Cleaning
Brake pad replacements are done every day at dealerships across the country. The big question is, are they being done right? Technicians must pay attention to proper and thorough cleaning as part of the preparation for replacements because today's brake systems are particularly sensitive to rust and corrosion. Click here or click on the image for a few quick tips to put your technicians on the path to customer satisfaction for a maintenance area known for bringing customers back when the job isn't done right.
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| driving technology in and around the VEHICLE |
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Is There Still a Market for GPS Navigation Devices? Garmin and TomTom aren't going away any time soonOkay, so the market is being flooded with iPhones and smartphones and Sync's "My Ride" technology, and you wonder if it's worthwhile to push vehicles loaded with a GPS navigation system. The answer is an unequivocable "Yes"! Take a look at some of the neat items coming down the tube: Garmin Nuvi 3790T GPS device is thinner than an iPhone, has a beautiful 5-inch LCD screen, can run traffic directions in 3-D, and easily slips into your pocket, making it perfect for use in the car or while walking. Garmin's 3790T -- intended for the car — but not always. "It's for driving or walking," Garmin Chief Financial Officer Kevin Rauckman says, and will surely turn heads though it is a bit pricey. TomTom is reaching for the cost-conscious consumer, bringing in a Darth Vader-like voice to help you "recalculate". Additional Stars Wars voices — including C-3PO and Han Solo — will be available later this summer. Senior Vice President Tom Murray says. "The audio quality you get from a navigation device is crisper and cleaner than what you can get on a smartphone." Sales of individual GPS units are down somewhat this year, retail sales at $267 million from January to April, and the trend long-term may involve a phase-out or reincarnation of some sort. But the long-range prognosis for consumers can also mean lower prices. Garmin and TomTom are not going away any time soon!
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| how to make & keep your delaership environmentally responsible |
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The Race to Plug In -- Field of Automakers Widens
Almost all major automakers have, or will soon, enter the electric vehicle market. The demand for better fuel efficiency is a leading factor, of course, but automakers are going to need help if they want to attract buyers. For one thing, the cost of batteries needs to come down. For another, buyers need to be assured that they can travel adequate distances and find plug-in stations when they need charging. Thus, the infrastructure for electric vehicles is the next major battle ground. Click here and then click on the image to read more about the challenges and the opportunities for EV technology.
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