Trending Auto Retail News
Post Smarter: The Best Times to Use Social Platforms (Infographic)
The best times to use social platforms, from Entrepreneur. Almost every small business, 81 percent, is on social media, and 94 percent of them use these social platforms for marketing purposes (attracting clients and building a brand), according to research from...
8 Steps to Fix your Online Reputation
8 steps to fix your online reputation, according to Ragan.com. Sean McGinnis recently wrote an interesting post about online reputation and how he ended up in porn. One day, he Googled himself to discover an adult movie called "The Fluffer" had been released and the...
Factors Affecting Blue Sky Multiples
Today’s buy/sell market is robust and dealership values are very strong. This chart is based on the Kerrigan Advisors franchise values in the current buy/sell market. Each franchise in the chart is designated with a high, average and low multiple. I am often asked...
The Menace of the Service Department – Collections
Most franchised dealers are not in the business of debt collection; but it is an occupational hazard. Without a buy here pay here lot or a related finance company, the bulk of the debt arises from the service department and body shop work. A typical scenario may look...
Making the Conquest: Identifying and Converting Receptive Car Owners
As the Greek philosopher Heraclitus famously stated, “No one ever steps in the same river twice, for it's not the same river and he's not the same person.” The same principle of constant change also applies to the automobile market—it, too, is never the same twice....
3 Indicators To Make Market-Smart Used Vehicle Pricing Decisions
At a recent dealer group presentation, a used vehicle manager asked me an astute question: “Dale, how can you tell when a used vehicle may need a price change?” I liked the question because it suggested the manager was a thoughtful and proactive person—someone who...
The Nuts and Bolts of the Auto Dealer Bond Claim Process
If you are a licensed auto dealer, you’ve surely dealt with obtaining a surety bond as a requirement for your license. Hopefully you haven’t dealt with surety bond claims. However, it helps to be informed and prepared in case you do get a bond claim in the future. Do...
Embracing Discomfort in the Sales Process
When it comes to sales, embracing the uncomfortable aspects of the process is key. Top performers know this, and that is why they shine. Sales discomforts trigger a hard-wired “response to fear” category in our brains. This primal instinct makes us perceive feelings...
Carfax Helps Consumers Find The Right Car With The Right History; Car Fox Returns In New Ad Campaign To Spread The Word
With a little help from his friends, Car Fox is leading people to the revolution in online car shopping for a new Carfax ad campaign. The new ads unveil for used car shoppers the company's latest innovation, Carfax Used Car Listings, designed to help find the right...
It’s a Wild Ride – Creating Family Member Employment Policies
"OK, it’s time for a break," I yelled over the deafening shouts of three sibling shareholders and their spouses. "Let's just chill for 15 minutes or so. Give yourself a break, have a cup of coffee, stretch your legs; do whatever it takes to relax a moment. And for...
Is Your Dealership LOUD Enough to be Heard Online?
Focus on “share of voice” to turn demand into consistent conversions, sales. Did you meet your sales goal for 2013? In-market demand was strong last year, with 2014 off to a rocket start. New research by Compete’s Lincoln Merrihew (Automotive 2013: Mixed Market...
Never, Ever Argue With Your Salespeople
Let me first point out the odds of becoming a sales manager in the automotive industry. There are approximately 20,000 new car dealers in the US and Canada. They will average approximately seven new sales people a year between them. Do the math on that. You are one in...
Join us for Digital Dealer Las Vegas 2021