Daily Newscast: The secret to Dan Cummins Chevrolet’s Success | How To Use Snapchat In Your Dealership’s Marketing | An Accounting Method that Benefits Car Dealerships | Bridging the Millennial Gap

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On today’s CBT Newscast for Thursday, May 11, 2017:

Transparency: The secret to Dan Cummings Chevrolet’s success
When it comes to leads, a potential car buyer’s first impression often comes form your dealership’s BDC. The speed in which you answer leads is crucial, but the information your BDC gives customers up front is even more important. CBT’s Joe Gumm sits down with Josh Mitchell, Business Development Director with Dan Cummins Chevrolet. Watch Now

Bridging the Millennial Gap Through Better Service
The Millennial has proved to be an elusive customer for dealership service departments, as evidenced by low rates of retention and loyalty. This generation is decidedly harder to win over, yet their vehicle ownership rates and purchasing power are growing rapidly. The roughly 80 million Millennials in the U.S. command $600 billion in purchasing power annually. Currently Millennials account for 20 percent of a dealership’s active customer base and 19 percent of service visits. Read More

Texas congressman promotes an accounting method that benefits his car dealerships
Rep. Roger Williams speaks about a recent federal tax provision that he wants to protect called “Last In, First Out” Accounting. It’s a practice that helps car dealers like himself, but is also a tool that allows businesses to report their most recently acquired inventories as sold before older inventories. It allows businesses with reliably increasing inventory prices, like car dealerships, to save money on taxes by claiming the lower profits as a “LIFO Reserve.” Read More

How To Use Snapchat In Your Dealership’s Marketing
Snapchat, in the world of social media, is relatively new.  Social media in the automotive retail world is also a relatively new idea.  As much of a bad rap as social media has gotten, every tool can be utilized as a benefit. With the millions of users and the mind-bending amount of other statistics social media has, it is no wonder that car dealers are turning to this millennial creation for their future. Read More

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