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…

Automotive retail insider Allan Cooper discusses industry futurization

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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…

Cox Automotive analyst Zo Rahim breaks down CPO sales and market forecasts

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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…

Tips for effective vehicle merchandising and marketing – Part 2

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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…

Service department retention may start with the facility

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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…

Increase dealership sales by eliminating time-consuming recon tasks – Gage and Hugh Hathcock, ReconVelocity

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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…

NADA Board Elects MN Dealer Paul Walser as 2021 Chairman, NC Dealer Michael Alford as Vice Chair

TYSONS, Va. (Oct. 20, 2020)—The 63-member Board of Directors of the National Automobile Dealers Association (NADA) today elected Paul Walser as its 2021 chairman. “I’m humbled by the continued confidence of my fellow dealers,” said Walser, who represents Minnesota’s new-car…

What dealers can expect from an all-virtual NADA Show

The National Auto Dealers Association (NADA) had originally scheduled for its 2021 NADA Show to take place in New Orleans in January. However, the ongoing COVID-19 pandemic has changed the course of the show, moving one of the industry’s biggest…

How auto brands fared in Interbrand’s Top 100 ratings

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Interbrand has released its list of winners for the Best Global Brands in 2020. The consultancy firm bases its ratings on financial forecast, the role of the brand, and brand strength. More specifically, the components of valuations include “an analysis of the financial performance…

5 of the biggest issues facing the F&I office today and how to cope with them – Audrey McKinley

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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…

HEADLINES

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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.…
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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…
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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…
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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…

Tekion makes a big splash in the DMS space and public...

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…

How car dealership leaders can create more growth opportunities for people...

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…

Automotive startups make big headlines with strong funding rounds and acquisitions

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. NADA Impact on Vendors Big and…