Saturday, October 16, 2021
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employees

Best practices for hiring at your car dealership

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People are quitting their jobs, and the pandemic didn’t help. But it’s not necessarily about the pandemic or even low pay. In a 2019 study, the NADA said that auto dealerships paid, on average, 23% higher wages than in the non-auto segment. And 2020 has only increased wages. No, it’s more than money. NPR says, “Many are […]
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influencer marketing

How influencer marketing can benefit your car dealership

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It would be easy to think that influencers have been a new tool for marketing in the last ten years, but you would be wrong. Dealerships and manufacturers have sold with a “race on Sunday, sell on Monday” mantra for decades through NASCAR. And advertisers have paid for inclusion in movies and TV shows since […]
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digital storefront

Tips to keep your car dealership’s digital storefront updated

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Is your dealership’s digital storefront pulling in the number of customers to meet your quarterly plan? Or do you find one department doing all the heavy lifting and other areas just maintaining or – at worst – not involved at all? It may be time to consider what’s wrong. It’s essential to balance your marketing […]
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days' supply

Record car sales push days’ supply of inventory down further

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New car inventory has been steadily decreasing since December on two main factors: extremely strong buying behaviors by an increasingly confident nation, and a struggle to keep up production volume due to the notorious chip shortage. At the end of May 2021, the days’ supply of new vehicles industry-wide drooped to just 44 days. That’s […]
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EV

EV owners likely to go electric again, says J.D. Power...

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J.D. Power conducted an initial survey of American electric car buyers to determine their satisfaction. Their findings discovered that more than 4 out of 5 surveyed responded that they “definitely will” consider another EV purchase down the road. But what wasn’t as clear is whether they’ll be repeat buyers of the same brand or will […]
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innovation

Five factors that drive innovation in auto retail

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Dealership gross profits have declined from 3.3% to 2.4% between 2015 and 2018. Over that same time frame, an average dealership’s operating profits saw an even more drastic decline – from 8.9% to just 1.7%. The decline in profitability coincides with a growing dissatisfaction among consumers regarding the traditional vehicle purchasing method. According to global […]
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brand

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 of the branded products or services, of the role the brand plays in purchase decisions, […]
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Coca-Cola

Pointers in positive messaging from Coca-Cola

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Worldwide beverage brand Coca-Cola was quiet as the coronavirus pandemic raged worldwide. Rather than pushing their product, the global leader cut their ad spend to nil. But the move wasn’t knee-jerk to a problem – rather, it was an act to mobilize and perform acts of service. Angelina Joy, Brand Director at 72andSunny Amsterdam, said […]
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digital retailing

How to Maintain Brand Consistency with Digital Retailing

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Digital retailing has quickly advanced in automotive markets due to the limitations from COVID-19. With sudden integration for many dealerships over a short time frame, a few key principles can easily be overlooked. In his personal vehicle search, automotiveMastermind’s Director of Business Development Steve DeWitt has experienced firsthand opportunities for improvement in how digital retailing […]
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brand

Report Shows the Consumer Connection Goes Beyond Cars to Include...

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It seems that car owners have always developed an emotional bond with their vehicle. Research by Road & Travel Magazine from back in December 2007 found that 60 percent of vehicle owners hold conversations with the cars and 27 percent have a special name for their vehicle. A recent Brand Intimacy Study by MBLM discovered […]
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