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An untold truth: are price reductions good for your dealership?

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Since the early days of the industry, price reductions (markdowns) have been “the” tool used to move inventory as it ages, but now post-pandemic, dealers should be more serious than ever about holding margin on their in-stock vehicles. Not only because inventory is scarce, but it is vital to take advantage of new technology that […]
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price

Earn Car Buyer Trust: Brand Your Price

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Throughout the last few years, dealerships have been extremely proactive about improving the consumer experience. Because so many consumers now do the majority of their car shopping online, dealerships understand how crucial it is to match the digital experience on their website with the high quality experience now happening in the showroom. As I’ve mentioned […]
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price

Start Being Candid With Customers Who Ask About Price First

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If there’s one thing dealers could do to improve customer satisfaction in the coming year, it might well be this: Change your answer to the “What’s the price of the car?” question that customers always ask. Most salespeople I’ve seen habitually answer this question with one their own: “What’s a good time for you to […]
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Kelley Blue Book

KBB Names the 2019 Top 10 Back-to-School Cars for Students

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A new car can take the sting out of summer’s end. With school only a few weeks away, new drivers and their parents are seriously considering a purchase, though they may have different opinions as to what that vehicle might look like. Not to worry. Kelley Blue Book has curated a list of ten cars that […]
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Autotrader

Sizzling Sales: Autotrader Names 10 Hottest Used Cars for Summer 2019

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Nothing says summer freedom like hitting the road. If a shopper who’s holding back because you don’t want to spend endless hours online to find the perfect used car, or a dealer trying to get a finger on the pulse, well, you’re in luck. Autotrader has done the work for you. The auto site crunched […]
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price

Customers Say “No More Haggling” When it Comes to Price

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If you talked to everyone who came into a traditional dealership and asked if they were dreading a specific aspect of the car-buying process, chances are a common answer would be “negotiating on the price.” Dealerships are well aware of this, and many are starting to implement an entirely different sales method. Also called the […]
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VDP - vehicle detail page

Four Ways to Optimize Your VDP and Drive Sales

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We need to redefine the meaning of the vehicle detail page (VDP). At a time when automobile shoppers are expecting more transparency and user-friendly experiences, the VDP is more than a listing of a vehicle’s features – it’s an opportunity to create connections with consumers. Auto dealerships are embracing a better way to grow their […]
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What’s driving the average transaction price?

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The average new vehicle transaction price will hit an all-time high in 2016 at $34,077 per vehicle, a 2.7 percent increase from 2015 and a 12.6 percent increase from 2011, according to analysis from leading car information and shopping network, Edmunds.com. In 2017, Edmunds predicts that the average vehicle transaction price will further increase to […]
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CBT News – October 23, 2015

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On today's show: Erik Nachbahr, President of Helion Automotive Technologies, discusses how dealers can effectively manage data Why one dealership flipped their car-buying process...

CBT News – June 18, 2015

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On today's show: - eLEND Solutions' Pete MacInnis is back in the stdio to continue his conversation on the CFPB changes and whether they are...