Thursday, June 17, 2021
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F&I

Two reasons it may work for the sales consultant to...

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The F&I department and the process by which they deliver profit for the dealer has been stuck in one paradigm. Customers spend too much time picking out the perfect car and then dread the walk to ‘The Box’ where the F&I manager lays in wait to push them into buying aftermarket products they think they don’t need and […]
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inventory

Sales strong and prices high through January despite below average...

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Through the month of January, auto sales ticked higher than December 2020 as the pandemic recovery continues. With a January SAAR of 16.6 million units and just 3.7% fewer sales over last January, the automotive retail sector has been rebounding to near normal levels. That’s reflected in the average list price that’s been sustained above $40,000 for […]
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sales

The modern sales team as a driver of inventory turn

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Sales departments that interact closely with their dealership’s reconditioning function put more “sold” units on the board. Unfortunately, few sales managers and their teams...
Toyota

Toyota unseats VW as world’s best-selling automaker

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Toyota has regained their position as the best-selling automaker in the world for 2020. Despite obviously challenging circumstances over the past year, Toyota managed to sell 9.5 million units worldwide in 2020, surpassing Volkswagen’s 2020 sales of 9.3 million vehicles.  The achievement marks the first time in five years that Toyota has claimed the title of best-selling […]
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sales

New vehicle sales start the year strong in January

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After a year of political division, the spread of a virus worldwide, and a vaccine program that’s off to a slow start, January 2021’s auto sales forecast is rosier than one might expect. J.D. Power’s U.S. Automotive Forecast projects that the first month of sales this year will be an increase of 1.8 % over January 2020.  […]
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Kerrigan

Kerrigan Index report reveals record-breaking stock valuations amid shaky economy

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The COVID-19 pandemic rattled the American economy, and its impacts are still being felt in almost every sector. In 2020, many feared that the economic fallout from the virus’s effects would significantly and negatively impact the auto industry. While there were some shocks, auto retail has managed to stay resilient.  Kerrigan Advisors, a sell-side advisory […]
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TrueCar

TrueCar predicts 16 million new car sales in 2021

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Headed into another year of uncertainty, TrueCar is forecasting a healthy increase over 2020’s suppressed auto sales performance, expecting new light vehicle sales in 2021 to reach 16 million units. That figure represents an overall increase of 10% industry-wide, with retail sales calculated at a 9.6% boost over last year’s results.  The positive forecast may come as […]
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sales

J.D. Power finds sales satisfaction increases due to pandemic tools

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The technology and tools that dealers were forced to quickly adopt in the spring due to the COVID-19 pandemic are largely responsible for an uptick in customer satisfaction during the sales process. That’s what the J.D. Power 2020 US Sales Satisfaction Index (SSI) Study determined.  For the 35th annual edition of the study, J.D. Power has revamped it […]
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sales

Does the retail sales downturn predict the same losses for...

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Fox Business reports that “November saw U.S. retail sales fall for the first time in seven months, suggesting consumers are pulling back on spending amid a surging pandemic and expiring federal aid.” Does the 11% decline from October signal a darkened mood from consumers for 2021? And does the downturn in retail sales predict anything for the […]
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salespeople

Study shows just 24 percent of salespeople are high performers

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A new study identifies that less than one in four salespeople is performing at a level considered above average. The report called the “State of Sales” by Questionmark was powered by Salesforce Research and assessed salespeople across a range of industries including automotive. They recommend that businesses identify the characteristics their top salespeople have and implement them into […]
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