CEO Alex Goldfayn Discusses Key Communication Strategies to Generate More Sales
Many of our personal and professional lives have been altered since the start of Coronavirus, but that doesn’t mean optimism and positivity have to take a back seat. Sales and profit are still happening! Today we’re talking to Alex…
Independent Dealers Remain Positive Entering Third Quarter 2020
Coming off the toughest sales climate in more than a decade, it could be argued that the auto industry should be expecting the worst situation as the second half of 2020 gets underway. That’s not the case. According to the…
Auto Sales Recovery Exceeds American Economy Growth Rate
A recent US Census report revealed that American retail sales across all industries increased by 1.2 percent from June to July. Although it is below the 2.9 percent increase projected by analysts, it does reveal an important fact: individuals are…
Could Auto Retailers Copy Amazon’s Model for Fulfillment Centers?
Online retail giant Amazon and Simon Property Group Inc. are in talks to use empty retail locations in malls as depots and fulfillment centers, according to a report from the Wall Street Journal. Amazon is specifically looking at JCPenney and…
Sean Gardner on Converting Both Digital Leads and Unsold Customers
In light of the COVID-19 pandemic, there are more digital opportunities for dealers and customers than ever before. Car buyers want to get as much of the shopping experience and transaction process done at home before they head to the…
Studies Show Key to Selling is Relationship over Product
The J.D. Power 2020 U.S. APEAL Study rank automakers based on how excited and emotionally connected people feel to their new cars. Of a possible 1000 points, the spread between first and last position is only 50 points. In the…
Sonic Is Adding EchoPark Used Car Stores – Is This a Strategy More Dealer Groups Should Follow?
The fifth-largest American auto dealer group has announced plans to expand on their standalone used car dealership model known as EchoPark. As the pre-owned only stores continue to surpass expectations, CEO David Smith spoke on July 30th about their ambitious…
Used Vehicle Demand in the US is Shaking Up Inventories
With costs of new vehicles rising and consumers’ pocketbooks still being strained by the coronavirus pandemic, used vehicle demand has significantly spiked since the COVID-19 pandemic began. Inventory of new cars is becoming an issue for dealers now, seeing as…
CarGurus Report: 70 Percent of Consumers Are Actively Searching for Vehicles
According to the Wall Street Journal, most automakers reported declines in sales during this year’s second quarter. The numbers may look bleak, and these sales decreases may be the norm for the rest of 2020. Nevertheless, these numbers don’t tell…
Evaluate Your Sales Training, Is it Up to Par? – Mark Tewart
Consistent training for your sales staff is crucial to winning every customer that comes into the showroom. However, dealers often say that they don't have the time or man-power to devote to adequate training. Here to debunk those fallacies is…
HEADLINES
Auto ventures capitalize on stock market strength to push through acquisitions and IPOs
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. In this episode, Greenfield takes a…
Bernie Moreno returns to auto retail with new digital technology
While the COVID-19 pandemic has created many obstacles for auto dealers, some have found ways to create opportunities in the midst of adversity. After taking a step back from the auto industry, Bernie Moreno, president of Bernie Moreno Companies, and…
Why automation is a crucial tool in today’s auto industry
In today’s fast-paced world, customers expect personalized communication that speaks to their specific needs and grabs their attention. This expectation increases the number of meaningful touches needed between a customer and a sales representative. With a smaller team, how can…
Wholesale prices begin to normalize on usual inventory levels
Dealers may start to notice the wholesale prices at auction slip back into more familiar territory. According to Manheim’s Used Vehicle Value Index mid-month report for September, wholesale used vehicle prices have decreased by 0.9% in the first two weeks…
Auto ventures capitalize on stock market strength to push through 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. In this episode, Greenfield takes a…
The role diversity plays in your dealership’s customer communications
Welcome back to Diversity in Automotive brought to you by TrueCar and CarNow. As you look across your customer base, there are several moving parts of communications that everyone has to get right. Externally, dealers have to represent the franchise…
Conducting customer interviews online to discuss F&I options
It’s time to face a new reality. Offsite deliveries aren’t going anywhere anytime soon. COVID-19 has forever changed the way car dealers do business, quite possibly forever if not for the foreseeable future. In growing numbers, more dealers performing offsite…
