Thursday, November 26, 2020
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pandemic

Pandemic vehicle purchases kicked truck sales into high gear

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A new study from CarGurus is revealing a trend in auto retail toward larger vehicle purchases, particularly pickup trucks. The 2020 Pickup Truck Sentiment Study consists of responses from truck owners in the midst of the pandemic in September and compares the results from similar data compiled in February this year. It demonstrated differences in […]
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vehicle

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 could land them onto the homepage, a vehicle landing page, inventory search, etc. A recent […]
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accessories

Is There Value in Aftermarket Accessories and Performance Upgrades?

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According to a recent study by the Specialty Equipment Market Association (SEMA), young car enthusiasts ages 16 to 24 spend $7.2 billion each year customizing their vehicles. “More than 7.9 million young people customize, modify or upgrade their vehicles each year,” says SEMA Director-Market Research Gavin Knapp. “Their vehicles not only help them get from […]
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ev buyers

What Do EV Buyers Look Like?

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The 2019 fourth-quarter Experian Automotive Quarterly Briefing has been released. Its pages detail numerous segments in auto retail from used car ownership changes to new vehicles in service, and broken down into segments. One enlightening section highlights data regarding a growing customer base, the electric vehicle buyer.  Where are Electrics Vehicles Most Frequently Purchased? A […]
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questions

Are Buyers Liars? Ask Questions That Get Honest Answers

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As long as I have been in the car business, I’ve heard salespeople and managers jokingly use the cliché “Buyers are liars.”  When I ask them when they believe buyers are liars, they all respond with the same answer, “When their lips are moving.” I am not sure which concerns me more, the idea that […]
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tension

Removing Tension Between Dealers and Buyers

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On this week’s episode of F&I Today, Becky Chernek talks to Michael Jarman, Co-Founder and CEO of TurboPass. Becky and Mike talk about how TurboPass can help in removing tension between dealers and buyers, help get deals funded immediately, and more.
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F&I

Dealing with Higher Interest Rates – 3 Tips to Help F&I...

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Dealers seem to be getting a lot of bad news these days. Tariffs threatening to increase the prices of new cars, sales slowing down, used car inventory costs rising at auctions, and now the downstream effects of rising interest rates. No matter what side of the political aisle you reside on, there is one thing […]
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buyers

How a Softer Approach with Millennial Buyers is Best

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If there was any age group in America that gets a bad ‘rap’, it’s Millennials. It seems like everyone has an opinion about the 20-35 year-olds and unfortunately much of it is negative. Lazy, unmotivated, and still living at home with Mom & Dad are all patently unfair stereotypes of a demographic that is numbering close to 60-80 million […]
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buyers

Adding Value by Creating a Better Sales Journey

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Hyundai Motor America’s Chief Marketing Officer (CMO) Dean Evans has been doing his part to turn the automotive retailing process on its head. Hyundai has been leading the way in adapting to changes in its sales journey, ultimately leading to improved buyer behavior. In an article on www.thinkwithgoogle.com, Evans writes: “During my 25-plus years in […]
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buyers

How to Handle Different Types of Buyers

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Just as there are different personality types, buyers can also be categorized into different buyer types as well. Some buyers love to negotiate, others hate anything that could resemble confrontation. Some buyers analyze every aspect of a purchase, and others throw caution to the wind and prefer to buy on impulse. It is interesting to […]
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