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Industry News in the Last 24 |
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December 16, 2009 |
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 Kontos Predicts Stable-to-Firming Wholesale Values into 2010
November wholesale prices up up 9.3 percent over 2008 and .6 percent over October, according to ADESA's Tom Kontos, attributed to used-car sales gain and los auction supply. Stable trends should continue in the near future, says Kontos.
AutoRemarketing.com, December 15, 2009
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 Audi Exec: Obama's Love for Electric Vehicles Premature
The reach for EVs as a replacement for gas engines could be decades away, says Audi of America President Johan de Nysschen. The Chevy Volt, and others, lack plug-in infrastructure, and the public is better served with automakers concentrating on better gas mileage and diesel power.
Detroit News, December 15, 2009
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 Hitting the “Reset Button” in the Luxury Market
The current recession hits the luxury market hard as many buyers decide to move down-market. Mercedes marketing chief Steve Cannon calls 2009 a "reset year" as company rethinks its marketing strategy as U.S. sales drop 17 percent but market share is up slightly.
The DetroitBureau.com, December 15, 2009
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WHAT'S SIGNIFICANT THIS WEEK IN THE NEWS |
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U.S. Treasury Secretary Says GMAC Will Get Federal Funding
The Treasury Department is poised to infuse additional capital into GMAC. The original proposal was for $5.6 billion from TARP funds. The U.S. government currently owns 35.4% of the auto lender.
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Kelley Blue Book's kbb.com Names Ford Taurus '2010 Best Redesigned Vehicle'
Ford Taurus' win of Kelley Blue Book's 2010 Best Redesigned Vehicle earns Ford consecutive wins and four in the last seven years.
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Ram Heavy Duty pickup is Motor Trend Truck of the Year
With full size truck sales in a major slump, Chrysler has the honor of being awarded 2010 Truck of the Year by Motor Trend magazine. The Dodge Ram Heavy Duty pickup came out ahead of two contenders from Ford and one from Toyota.
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 Why Advertise During A Recession?
Many clients, like consumers are nervous over our economic condition, and rightfully so. But now is not the time to cut back advertising, promotion, and marketing. In fact research has shown that companies that take advantage of these times can dominate market share and here are a few reasons why:
• Your competition is probably scaling back. This creates less clutter for attention. Your message can stand out and create more awareness.
• Deals are to be had. Media outlets are more likely to negotiate right now for advertising rates.
• Brand identity begins to drop off immediately when you cut back.
• It costs more to re-build brand identity than to continue it.
• If others are cutting back, your position as a market leader is enhanced. It sends a message your company is strong, confident, and is maintaining its course of success and market domination.
This may also be a good time to look at media that gets the most bang for your buck. Here's a list of things you may want to consider during economic stress:
• Focus on advertising with clear and proven return on investment.
• Be prepared to cut budget bloaters.
• Focus on a brand?s core base.
Click here to read the entire article.
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 Next-Generation Auto Loan Origination System Takes Hold
Over the years auto leasing has been a large part of U.S. dealerships, but it went sour when financing and credit tightened to the point where dealers and consumers found the well running dry. Now as the economy brightens, auto leasing recovers as the auto industry recovers its footing. Finally, financing has eased to the point where automakers and their financing arms are back in business once again. To facilitate auto loans, dealers will want to learn more about the Fiserv Advantage for automated loan applications that provide automated workflow, routing and support while minimizing risk. Click here or click on the image to learn more!
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 NADA University Launches at 2010 Convention!
NADA University is an unprecedented online and classroom training and education resource intended to provide dealers and the industry with timely, relevant content offered conveniently and affordably and encompassing four “automotive centers of excellence”:
• The Academy - focuses on leadership development and executive education for managers and successors.
• Learning Hub - delivers education solutions: webinars, workshops, seminars—and online, on-demand, measurable courses that stretch training dollars and boost performance.
• 20 Group - is all about performance improvement and our commitment to your success: traditional and custom programs offer our best-in-class online composite and consultants who understand your business.
• Resource Toolbox - offers industry news and information, member publications, Market Insight webinars, NADAPerks tips and tools, and eLearning for NADA products and services.
 FirstLook Brings Innovative Performance Solutions to NADA
FirstLook, by INCISENT Technologies, is the pioneer in Automotive Retail Performance Solutions, offering such features as 360° Market Navigation Tools allowing dealers to tap market data, and execute pre-owned operations best practices, and its latest Consumer Optimization techniques, demonstrated at the Digital Dealer Conference in November. Take advantage of the technology and training that will give you an industry-leading edge. We'll see you at NADA! But in the meantime, for more information contact FirstLook at 800-730-5665 or visit www.firstlooksolutions.com.
Visit us While at NADA...Booth #2343
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 NADA Workshops
"The Five Toughest Decisions Dealers Face Today"
Fri - Feb 12 3:15 pm
Sat - Feb 13 11 am
Mon - Feb 15 10:30 am
Room 305 A&B
Speaker: Joe Verde, the Verde Group. Nothing is more important today than solid leadership from the dealer. Five critical decisions will help you recover quickly if implemented or stop you dead in your tracks if they aren't! See you at NADA!
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 NADA Workshops
"Appraisal Process: Best Practices to Boost Revenue"
Fri - Feb 12 1:30 pm
Sun - Feb 14 11 am
Mon - Feb 15 10:30 am
Room 204 C
Speakers: Stu Zalud (and Les Abrams), Dealer Services, NADA Used Car Guide. Research for the used-market reveals 50+ percent of consumers as dissatisfied with their last trade-in experiences. A clear appraisal process is critical! So is this workshop!
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 NADA Workshops
"Internet Marketing for Fixed Operations"
Fri - Feb 12 3:15 pm
Sun - Feb 14 3:30 pm
Mon - Feb 15 8:30 am
Room 307 A
Speaker: Lee Harkins, M5 Management Services LLC. This workshop presents ideas and techniques to enhance the utilization of the Internet in dealers' fixed operations. Learn how to monitor your dealership's image online and use social networks to improve your image.
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 Successful Automotive Marketing -- Part V
Fifth in a series of five tips for achieving marketing success
Success Key #5: Social Proof
One of the most powerful ways to promote and communicate the value of your dealership is by getting other people who think your dealership experience is great to say it to others. This is the whole concept of word-of-mouth advertising. Many people believe word-of-mouth advertising is not controllable, that it just happens when it happens and they're lucky to get it. Others believe is happens automatically by delivering good service.
Both these statements are untrue but most everyone we talk to believes it. Word-of-mouth is controllable and can be greatly stimulated by a good system.
One way to generate more word-of-mouth is by packaging up your testimonials in the form of print, audio and video and using them in all your communications with prospects, ups and customers. Put testimonials in your ads, in your consumer guides and in your yellow pages ads. Use audio testimonials on your website, in your radio commercials and your emails. Use video testimonials on your website and in a loop tape in your showroom. You can have your salesmen carry around video iPods to play actual testimonials of your past customers to their ups. Or play an audio testimonial CD in the vehicle during the test drive.
No one sells your services better to prospects than your really happy past customers. This is one area sadly underused by most dealers.
Reading good information isn't enough, you have to take action. Many dealers spend a lot of time waiting for the perfect scenario to run an ad, test an idea or make a change at their dealership. The perfect time never comes and nothing ever gets done. Use these keys as a measuring stick with what you are doing in your store. Are you using all five keys? If not, start making changes now to implement some of what you just learned.
This concludes the series.
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