Dealers: Page 46
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Courtesy of WardsAuto
Car Dealers Should Walk the Walk, Online and Off
“Do a virtual lot walk, not just a physical lot walk,” says Jasen Rice, owner of Lotpop, telling how to avoid making digital-inventory goofs.
By Steve Finlay • Jan. 5, 2021 -
Courtesy of WardsAuto
How Higher Profits Are Directly Tied to Higher Close Rates
Our industry thrives on leads but it’s the quality -- not quantity -- of leads that impacts your ability to close. What if you could harness the power of the best leads and show your sales team how to know the difference?
Jan. 4, 2021 -
Explore the Trendline➔
Courtesy of Kia Corporation
TrendlineArtificial Intelligence
Automakers and dealers alike are increasingly seeing the use case for AI within their operations. Explore some use cases in this trendline.
By WardsAuto staff -
Courtesy of WardsAuto
As Retail Struggles to Maintain Efficiencies, Automotive Thrives
Don’t look back. Gravity has a way of pulling us into decade-old habits. Fight it. With significant gains in CSI and net profitability under foot, we need to push forward and reap the rewards.
By Michelle Denogean • Dec. 29, 2020 -
Courtesy of WardsAuto
TransUnion Sees Auto Loan, Lease Volume Rebounding
TransUnion expects auto originations of about 6.9 million accounts in the first quarter of 2021, up about 8% from a year ago. The second-quarter forecast is 7.4 million accounts, an increase of 14.6% from the low point of 2020.
By Jim Henry • Dec. 22, 2020 -
Courtesy of WardsAuto
Pandemic Fast-Forwards Digital Auto Retail to New Reality
The ability to bring the showroom experience to shoppers in the comfort of their living rooms can be a game-changer for dealers, if executed properly. Dealers who haven’t yet adjusted to this new variable in the automotive retail landscape run the risk of being left out in the cold.
By Chris Sutton and Jon Sederstrom • Dec. 22, 2020 -
Courtesy of WardsAuto
Investing in People, Digital Retail Technology
Technology is making buying and selling easier, but it is not replacing people, and those people must be correctly chosen and trained, skilled up to fit the changing times.
By David O'Brien • Dec. 21, 2020 -
Courtesy of WardsAuto
Keys to Used-Vehicle Acquisition in 2021
In today’s wholesale market, you can’t “underpay for the wrong car or overpay for the right one,” says David Long of Hansel Auto Group. “It’s just about using the data to make good decisions, and if you do, then you will come out on top.”
By Ryan Gerardi • Dec. 18, 2020 -
Courtesy of WardsAuto
Easing the Pain of Car Dealership Trade-Ins
“When the family member began crying, I was blown away,” says Matt Jones of TrueCar.
By Steve Finlay • Dec. 17, 2020 -
Courtesy of WardsAuto
Consultant Urges Keeping Tabs on Dealership Overhead
Centralizing procurement at a dealership typically saves about 25% on those costs, compared with decentralized decisions on hiring suppliers and negotiating prices and contracts, according to StrategicSource.
By Jim Henry • Dec. 16, 2020 -
Courtesy of WardsAuto
How Geo-Intelligence Transforms Automotive Retail Operations
Reduce the number of days vehicles spend in recon, the amount of money spent on key replacements and the number of hours dealership employees spend looking for cars and keys.
Dec. 16, 2020 -
Courtesy of WardsAuto
Don’t Let Broken Recall System Harm Dealers, Customers
Developing a systematic approach will help dealers avoid risks when handling vehicle safety recalls. Dealers also can benefit from recalls through more service work and improved relationships with existing customers.
By Mark Paul • Dec. 14, 2020 -
Courtesy of WardsAuto
Preparing for a 2nd Possible COVID-19 Lockdown
Regardless of a second shutdown, demand for cars isn’t expected to plummet the way it did back in spring. Furthermore, Americans’ falling appetite for airline travel and limited public transportation means people will continue to shop for cars and trucks.
By Lauren Donalson • Dec. 11, 2020 -
Courtesy of WardsAuto
Lessons Learned in Auto Retailing During COVID-19
The pandemic has spurred a number of changes in sales, service, inventory management and the overall customer experience. Along the way, dealers struggled initially to be profitable.
By Jim Henry • Dec. 10, 2020 -
Courtesy of WardsAuto
Dealership Video Ads in the Age of Streaming
Navigating this new ecosystem of internet-based devices or streaming services might sound daunting. But the right technology can do most of the heavy lifting for dealers, and in many ways, do it more cost effectively than cable ever could.
By Scott Blodgett • Dec. 9, 2020 -
Courtesy of WardsAuto
Delinquent Loans, Lease Payments Dropped in Q3
Experian’s Melinda Zabritski says the decline probably is due at least in part to consumers who took advantage of easily available “accommodation” programs such as deferring payments during the first wave of coronavirus shutdowns.
By Jim Henry • Dec. 8, 2020 -
Courtesy of WardsAuto
Dealership Profits Tracking Toward Record 2020
Analyst Erin Kerrigan says some factors driving unusually high profits per vehicle won’t last indefinitely, such as lower-than-usual new-vehicle inventories – although higher volume next year would help offset that.
By Jim Henry • Dec. 8, 2020 -
Courtesy of WardsAuto
Vehicle Shoppers Say Prices Up, Selection Down
A CarGurus survey indicates how the pandemic has affected how, when and why consumers shop for cars.
By Steve Finlay • Dec. 7, 2020 -
Courtesy of WardsAuto
Asbury Launches Complete Online Car-Buying Site
While announcing its new Clicklane online shopping channel, Asbury also unveils an ambitious five-year growth plan to add $12 billion in annual revenue by 2025.
By Jim Henry • Dec. 4, 2020 -
Courtesy of WardsAuto
Mobile Service Vans Find Niche Among Dealers
“When people see that van, and the doors open, and they hear that generator start up, they want that service,” says David Bergamotto, service manager for Park Avenue BMW of Rochelle Park, NJ.
By Jim Henry • Dec. 3, 2020 -
Courtesy of WardsAuto
Americans Drive Less, But Still Value Their Vehicles, Survey Says
In a Wards Q&A, Ally Insurance President Mark Manzo talks about service contracts remaining important even though people are rethinking their driving needs.
By Steve Finlay • Dec. 3, 2020 -
Courtesy of WardsAuto
Marketing and Innovation in a Downturn
It’s not the time to pause marketing budget. Re-evaluate? Heavily critique? Absolutely. But to pause all marketing efforts is putting your dealership at a disadvantage.
By Ilana Shabtay • Dec. 2, 2020 -
Courtesy of WardsAuto
COVID-19 to Remain X Factor in 2021 Auto Retailing
ALG’s latest full-year sales forecast for 2020 U.S. new light vehicles is 14.5 million, well below the 2019 total of 17.1 million, and short of ALG’s pre-pandemic forecast for 2020 of 16.9 million. ALG’s forecast for 2021 is 15.5 million.
By Jim Henry • Dec. 1, 2020 -
Courtesy of WardsAuto
Survey: Car Retailers Expect Dealership Values to Rise
“The results of the survey found that dealers remain largely optimistic about the valuation of their dealerships over the next 12 months, despite the economic turmoil associated with COVID-19,” according to the 2020 Kerrigan Dealer Survey report.
By Jim Henry • Dec. 1, 2020 -
Courtesy of WardsAuto
Average Transaction Prices Seen Rising 4.7% in November
Excluding fleet sales, TrueCar and ALG expect U.S. retail deliveries of new cars and light trucks to be 1,099,808 units, up 2.9% from a year ago and up 8.4% from October when adjusted for the same number of selling days.
By Jim Irwin • Nov. 30, 2020 -
Courtesy of WardsAuto
Is Your Dealership Delivering The Right Consumer Experience? Meet Them Anywhere.
Today’s consumer has extensive experience with remote shopping and transactions. In automotive digital marketing there is unprecedented need to be able to meet the consumer wherever they are, whether it be virtual, in person, or somewhere in between.
Nov. 25, 2020
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