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carla bailo

Industry Expert Carla Bailo Predicts Two-Year Auto Recovery, Impact Not...

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According to Carla Bailo, the President and CEO of the Center for Automotive Research, it can be expected to take two years for auto sales and production levels to return to pre-COVID levels. Bailo’s comments were made during a legislative hearing in Lansing, Michigan on September 2nd. Bailo said, “Everyone is predicting this year about […]
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luxury

Luxury Vehicle Sales Expected to Rebound from Depression

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The coronavirus pandemic has not been beneficial to most industries, and this definitely includes the auto industry. According to Cox Automotive, the Kelley Blue Book Brand Watch™ reported that for Q2 2020, luxury vehicle sales dropped 35% and hit their lowest level in the past two years. The past couple of years had already seen […]
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sales

Auto Sales Recovery Exceeds American Economy Growth Rate

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A recent US Census report revealed that American retail sales across all industries increased by 1.2 percent from June to July. Although it is below the 2.9 percent increase projected by analysts, it does reveal an important fact: individuals are still buying retail items, even in the midst of the pandemic. Most industries experienced a […]
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sales

Carmakers Remain Hopeful Despite Disappointing Q2 Sales Results

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Though not unexpected, the continued downward trajectory of car sales this year still hurts. Overall, top brands such as Ford, Fiat Chrysler, and General Motors saw drops of over 30% in comparison to last year. The hope is that as production begins to turn back on and areas open more, the market will rebound. While […]
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virtual retailing

Phone Skills a Key Ingredient for Effective Virtual Retailing

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In light of the ongoing pandemic, auto sales and service continue to grow in popularity online. Capgemini research from May 2020 shows that “46 percent of prospective [car] customers will increase their online shopping because of COVID-19”. The longer the virus affects the country, the higher that number will climb. For consumers, it’s a matter […]
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digital

How Digital Tools are Empowering Dealers to Keep Calm and...

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Any time that the automotive industry is faced with turmoil, the pressure is instantly applied for dealers to remain top of mind for consumers. During the 2008 recession, and now even more amid the COVID-19 pandemic, the need for a strong marketing message and understanding of the variations in every consumers’ purchase journey is proving […]
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Facebook pages

Are Personally-Branded Facebook Pages Bad for Dealers?

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Thanks to an estimated 80% turnover rate on sales teams, dealership managers know the challenges of efficiently hiring and training new salespeople. One thing that can complicate this inevitable revolving door is social media. On Facebook, many dealership salespeople have chosen to set up their own business Facebook pages. This form of personal branding has […]
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sales

Dealers Cite Sales Bottleneck Due to Low New Car Inventory...

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Cases of the novel coronavirus have been on the rise in Florida with more than 12,000 new cases being reported per day. In Texas, there are nearly 150,000 active cases as of July 20th. Yet, franchised car dealerships are reporting nearly normal traffic levels and sales, according to a story in The Detroit News. Rather […]
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time

Time, A Major Reason for Higher PRU During COVID-19

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Way back in March when COVID-19 shutdowns rolled across the US (seems like a long time ago, doesn’t it?) dealerships were one of the businesses that took an immediate hit. Showrooms and lots emptied and either transitioned to online sales or closed altogether. It was like a bad 80’s science fiction movie. Society just seemed […]
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car

Middle and Upper-Class Car Buyers Spending Actively

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The second-quarter car sales reports tell a story that few care to recall. The pandemic response sent more than 45 million Americans into the unemployment line so they could pay their bills. But during this crisis, the wealthy in the United States have continued to thrive and spend their money as usual. According to a […]
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