Today’s best digital marketing strategies and practices for car dealers
In this competitive landscape, how do you get consumers to come to you? That’s the million-dollar question. Since the start of the COVID-19 pandemic, digital marketing efforts have made a tremendous shift for dealers. Many budgets have been reevaluated, and…
Minimalist marketing techniques to try at your car dealership – Paul Potratz
There is a lot of talk surrounding advertising techniques and the best way to reach consumers, especially in today’s climate. Paul Potratz, owner of Potratz Partners Advertising is taking his own unique approach, yet again, with his latest venture, Helderburg.…
CBT News Market Update: Jennifer Suzuki, eDealer Solutions & Jason Knight, LotLinx
Welcome to another edition of the CBT News Market Update. To quickly recap this week’s numbers, the retail SAAR came out to 12.84 this week, 1.4% higher than last year’s rate of 12.66. Inventory levels among all new vehicles were…
David Kain on adapting your dealership’s BDC to new consumer trends
It’s no secret that the retail automotive market is changing rapidly in the wake of COVID-19. This is the first time that many everyday practices are moving fully online. Digital retailers such as Vroom and Carvana are simplifying the vehicle…
Automotive retail insider Allan Cooper discusses industry futurization
In this afternoon's interview, CBT News welcomes back Allan Cooper, president and co-founder of PiM Insights, automotive finance, sales, and management veteran, and industry consultant. Cooper and anchor Jim Fitzpatrick kick things off by discussing the overall impact COVID-19 has…
Tekion makes a big splash in the DMS space and public dealer groups announce Q3 earnings
Welcome to another edition of The Friday 5 with Steve Greenfield, Founder and CEO of Automotive Ventures, an auto technology advisory firm that helps entrepreneurs raise money and maximize the value of their companies. Public Group Reporting We’ve entered Q3…
Cox Automotive analyst Zo Rahim breaks down CPO sales and market forecasts
While dealers struggle with new vehicle inventory, used vehicle sales have become an emphasis for many dealers. Despite this, certified preowned sales have struggled since the beginning of the COVID-19 pandemic.CPO sales have been on the decline ever since stores…
Increase dealership sales by eliminating time-consuming recon tasks – Gage and Hugh Hathcock, ReconVelocity
Today on CBT News, we’re happy to welcome back Hugh Hathcock, Owner of ReconVelocity, and Gage Hathcock, Partner at ReconVelocity. COVID-19 has brought a strong focus on used vehicles for dealers who are struggling with new-vehicle inventory. This has only…
How car dealership leaders can create more growth opportunities for people of color
Welcome back to Diversity in Automotive, brought to you by TrueCar and CarNow. In today's segment, host Cory Mosley is joined by Damon Lester, president of the National Association of Minority Automobile Dealers. Diversity and inclusion have been age-old issues for…
5 of the biggest issues facing the F&I office today and how to cope with them – Audrey McKinley
F&I departments are facing a unique set of challenges in today’s marketplace. While many dealers have recently made strong investments in digital retailing due to the COVID-19 pandemic, the digital push has made many dealers wonder how digital retailing will…
The Weekly Automotive Market Minute for October 21, 2020
Welcome to the Weekly Automotive Market Minute with Bridget Fitzpatrick: The retail SAAR of new car sales came out to 12.84 this week, 1.4% higher than last year’s 12.66. Inventory levels among all new vehicles were down an even 15%…
NAMAD lends a hand to minority dealerships with digital marketing training
With digital retailing becoming more valuable to dealerships than ever before, it’s important for dealers to have every resource necessary to meet the changing demands of the market. This is why the National Association of Minority Automobile Dealers (NAMAD) is…
F&I
5 of the biggest issues facing the F&I office today and how to cope with them – Audrey McKinley
F&I departments are facing a unique set of challenges in today’s marketplace. While many dealers have recently made strong investments in digital retailing due to the COVID-19 pandemic, the digital push has made many dealers wonder how digital retailing will…
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Today’s best digital marketing strategies and practices for car dealers
In this competitive landscape, how do you get consumers to come to you? That’s the million-dollar question. Since the start of the COVID-19 pandemic, digital marketing efforts have made a tremendous shift for dealers. Many budgets have been reevaluated, and…
Minimalist marketing techniques to try at your car dealership – Paul Potratz
There is a lot of talk surrounding advertising techniques and the best way to reach consumers, especially in today’s climate. Paul Potratz, owner of Potratz Partners Advertising is taking his own unique approach, yet again, with his latest venture, Helderburg.…
CBT News Market Update: Jennifer Suzuki, eDealer Solutions & Jason Knight, LotLinx
Welcome to another edition of the CBT News Market Update. To quickly recap this week’s numbers, the retail SAAR came out to 12.84 this week, 1.4% higher than last year’s rate of 12.66. Inventory levels among all new vehicles were…
David Kain on adapting your dealership’s BDC to new consumer trends
It’s no secret that the retail automotive market is changing rapidly in the wake of COVID-19. This is the first time that many everyday practices are moving fully online. Digital retailers such as Vroom and Carvana are simplifying the vehicle…
Automotive retail insider Allan Cooper discusses industry futurization
In this afternoon's interview, CBT News welcomes back Allan Cooper, president and co-founder of PiM Insights, automotive finance, sales, and management veteran, and industry consultant. Cooper and anchor Jim Fitzpatrick kick things off by discussing the overall impact COVID-19 has…
Tekion makes a big splash in the DMS space and public dealer groups announce...
Welcome to another edition of The Friday 5 with Steve Greenfield, Founder and CEO of Automotive Ventures, an auto technology advisory firm that helps entrepreneurs raise money and maximize the value of their companies. Public Group Reporting We’ve entered Q3…
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Today’s best digital marketing strategies and practices for car dealers
In this competitive landscape, how do you get consumers to come to you? That’s the million-dollar question. Since the start of the COVID-19 pandemic, digital marketing efforts have made a tremendous shift for dealers. Many budgets have been reevaluated, and…
Five takeaways from used-car consignment company CarLotz public merger
Even in light of the COVID-19 pandemic, business is still brewing for companies in the automotive industry. On October 22, 2020, used-car consignment company CarLotz went public in a merger with Acamar Partners Acquisition Corporation. The corporation valued the company…
How to build a service department that customers love
Customer retention continues to be a problem for auto dealerships. Less than 1 in 3 service visits are at dealerships once a vehicle reaches three years of age. Coincidentally, that’s the same time when most warranties expire. The expectation of…
FIXED-OPS
How to build a service department that customers love
Customer retention continues to be a problem for auto dealerships. Less than 1 in 3 service visits are at dealerships once a vehicle reaches three years of age. Coincidentally, that’s the same time when most warranties expire. The expectation of…
Service department retention may start with the facility
According to NADA research, 76% of car buyers purchase a vehicle from the dealership that performs their regular maintenance. Yet despite nearly 100% of new vehicles being bought from a dealership, just 1 in 3 car owners are taking their…
How to leverage seasonal service appointments to drive better business
The coronavirus pandemic has changed many Americans’ schedules and habits, and for vehicle owners, one of the main impacts has been a significant change in how they handle routine maintenance. And this is dramatically altering how dealerships operate. According to…
How car dealers can meet new consumer expectations brought on by COVID-19
Many changes have come as car dealers operate their businesses through a pandemic. Joining us today to discuss changing consumer expectations and behavior is Jade Terreberry, director of analytics for Cox Automotive. Consumer expectations have changed so much in the…
Adapting to Change: Being female friendly in the service department
Being female friendly is a necessity these days in all industries, including automotive, because the American woman is one of the most powerful economic forces on the planet. With $7 trillion in purchasing power, women account for 85% of consumer…
Five takeaways from used-car consignment company CarLotz public merger
Even in light of the COVID-19 pandemic, business is still brewing for companies in the automotive industry. On October 22, 2020, used-car consignment company CarLotz went public in a merger with Acamar Partners Acquisition Corporation. The corporation valued the company…
How to build a service department that customers love
Customer retention continues to be a problem for auto dealerships. Less than 1 in 3 service visits are at dealerships once a vehicle reaches three years of age. Coincidentally, that’s the same time when most warranties expire. The expectation of…
ExxonMobil chairman provides updates and future of oil industry
On Wednesday, ExxonMobil Chairman and CEO Darren Woods held an employee forum to discuss the oil and gas industry’s position and the outlook for the future. A statement was released that summed up his comments to ExxonMobil staff that delved…
Policaro Group on the use of innovation and technology in automotive retail
In Southern Ontario, COVID-19 affects customer sentiment just like the rest of the world. Google reports that 59% of car shoppers would complete their purchase online if the option existed. That’s driven dealers like Ontario-based Policaro Group to develop their…
NAMAD lends a hand to minority dealerships with digital marketing training
With digital retailing becoming more valuable to dealerships than ever before, it’s important for dealers to have every resource necessary to meet the changing demands of the market. This is why the National Association of Minority Automobile Dealers (NAMAD) is…
Tips for effective vehicle merchandising and marketing – Part 2
Customers Don't Always Come Through the Front Door As discussed in part one, the virtual showroom may seem similar to the brick-and-mortar store, but there's no single entry that you can control. Links that drive the person to the site…
