What Can Video do For Your Dealership?

VSEO (Video Search Engine Optimization) is rapidly becoming the most cost effective way to create brand awareness and get the message about your dealership out to your consumers. The reason it is so effective is because you are in front of the consumer while they are looking for someone to do business with as opposed to traditional forms of exposure you are not. Here are the top 5 reasons to be using VSEO.
 
1. Video is the most engaging form of media. Video elicits a 40% response rate; text elicits 22%

2. Customers are more apt to watch a video than read text. Video tells them your story in an interactive manner. It's less work to watch a video.

3. Video garners more exposure because each video is essentially its own website, its own url, and each video will drive traffic to your dealer site.

4. Search engines prefer rich media. People prefer rich media, and it has been determined by search engines that rich media is a viable means for conducting business.

5. Video is the most cost effective means of advertising. It cost less per car to sell from video than it would to sell from TV, radio or print and your exposure is targeted not general.
 
John Castleberry is VP Operations for Time Media, Inc. and can be reached at john@timemediainc.com or 888-501-9403 x102.

Chrysler Finance Unit Freed from U.S. Oversight
Chrysler Financial, originally expected to wind down by 2011, may begin to issue auto financing again after the parent company (Cerberus Capital Management) repaid $1.9 billion in May and the government will no longer act in an oversight capacity.
Detroit News, July 22, 2010

Auto Dealers’ Sales May Reach Two-Year High as Small Shops Shut
U.S. auto retailers, especially the megadealers, could report a significant rise in sales volumes for the 2nd quarter, due in part to the closure of many small dealerships across the country. Sales would still fall below those of 2008 prior to the economic fallout.
Bloomberg.com, July 21, 2010

Quickening Pace of July Sales is Not a Full Recovery, Edmunds.com Says
The SAAR rate for July could approach 12 million units, but Edmunds.com urges dealers not to conclude that a full industry recovery is in place. Summer deals may feel like a recovery, but underlying trends have not changes, says Edmunds.com CEO Jeremy Anwyl.
Edmunds Auto Observer, July 20, 2010

EPA Sets Renewable Fuel Standards Below Mandate
The EPA had set hard targets for renewable fuels, reaching an overall level of 36 billion gallons by 2022. But some fuels are barely on track to meet those goals. So the EPA now has 2011 target as 7.95% of total gasoline sales.

What's in Store for Used Market?
For most of the year, used-vehicle prices have been on the upswing, but their rise has started to diminish.  One Kelley Blue Book analyst, in particular, said this could mean that the used market has hit "a point of equilibrium."

Wolters Kluwer Enhances Fair Lending Solution
The new law about to be signed regulating financial transactions will only give regulators in the federal government more power. Wolters Kluwer Financial Services has launched a new program to help dealers and other financial institutions to steer clear of these potential problems.

AutoSoft Adds Menu Selling to F&I Solution

Dealer management system provider AutoSoft International  today announced the latest addition of menu selling to Finance Assistant, its F&I solution, providing a powerful selling tool that can increase F&I sales and improve customer satisfaction with fully customizable menus and multiple product/services packages. Also includes all legal disclaimer forms ensuring full dealership compliance with industry regulations. For more info visit AutoSoft International.

OPENLANE iDEAL Open Seller Program Boosts Dealer to Dealer Sales

OPENLANE, Inc, leading North America online auction company, continues its record-breaking sales year, with best ever U.S. open auction and Canadians sales. Recent expansion of OPENLANE’s "iDEAL Open Seller program" throughout Canada, providing dealers with the freshest online inventory available in a more efficient and timely manner, creating a significant boost in dealer-to-dealer sales. For more information visit OPENLANE or call 866.969.0321 or email dealer_info@openlane.com.

Carfax Database Reaches Records Milestone
Carfax, the most trusted provider of vehicle history information, says its online database of vehicle history information now exceeds eight billion records. More than 34,000 sources, such as state DMVs, service and repair facilities and police departments report vehicle history information that’s housed in the Carfax database. Millions of people every year rely on this valuable information to help them buy and sell used cars with more confidence. For more info, or to become a subscribing dealer, visit www.carfaxonline.com.

Getting Customers Without Crossing the Line
By Jim Radogna

Many complaints and legal actions against auto dealers are the result of the way vehicles are advertised. According to a joint survey by the Consumer Federation of America (CFA), National Association of Consumer Agency Administrators (NACAA), and North American Consumer Protection Investigators (NACPI), the number one consumer complaint has been misrepresentations in advertising or sales of new and used cars.

Many dealers run into trouble with their advertising when staff members or outside vendors are not aware of the countless federal and state laws that regulate advertising. Here are some practical tips on how to avoid advertising violations:

• Never assume that advertising agencies or representatives know all the laws and regulations governing advertising compliance. This is particularly true of companies based in other states, such as internet and direct mail providers. State advertising laws vary and the responsibility for compliance lies with the dealership, not the advertising agency.

• Be aware of all advertising that your staff participates in. If your internet manager is advertising online (including social media!) or your used car manager is placing Auto Trader ads, it is important that they are properly trained and that all advertising is inspected before it is run.

• All advertising, whether printed, broadcast, internet or otherwise, should be in plain language, clear and conspicuous and non-deceptive.

• If you are not sure about an advertisement, you should have it reviewed by a qualified professional – it may end up costing quite a bit less than a legal action.

Jim Radogna is president of Dealer Compliance Consultants, Inc. Click here to read this article in its entirety.

Touch-Screen Input Moves Mainstream and Beyond
Range of new products helps automaker expand touch input use

Touch-screen input is rapidly becoming a mainstay in automotive human/machine interfaces (HMIs), prompting component makers to beef up their development efforts. Analysts predict that demand for touch screens will outpace voice over the next few years.

Strategy Analytics predicts that the total OEM demand for automotive touch-screen displays will reach $1.7 billion in 2015. That is half a billion more than voice input predictions for that year.

Other signs of increased interest: Cypress Semiconductor Corp. began shipping automotive-quality touch screens and controllers, Atmel also unveiled controllers for this market, and Microchip Technology Inc. has expanded its automotive controller efforts with chips and tools while also upgrading its mTouch. National Semiconductor enhanced its serializer/deserializer line to enable faster response times for touch-screen displays.

“Touch is growing very rapidly,” said Jennifer Colegrove, Director of Display Technologies at DisplaySearch. ”Sizes from 5 to 9.9 inches will be the most popular.”

Cypress has qualified its TrueTouch touch screen, offering touch-sensitive screens that measure up to nine inches, with the ability to detect a human finger before the input screen is touched, conserving power by entering a sleep mode prior to the detection. READ MORE...

Technology and Infrastructure are Key Elements for EV's Future

In case you haven't noticed, interest in electric vehicles in quite high. The planet is populated with folks who are concerned about the planet -- and then there are those who just want to get in on this whole new automotive phenomenom. Either way, there won't be a future for EVs if we can't re-charge them and use them more than once!As a result of these concerns, a new market research report is out, focusing on an analysis of the opportunities and the challenges we face in bringing electric vehicles into mainstream transportation. The report itself can be costly, so it might be worth it to share. Meanwhile, click here for some key features of the report as they affect those in the auto industry -- or click on the image for some insight into the future of EVs by President Obama.