All Blog Posts Tagged 'Pricing' (12)

Automotive Advertising Experts Review iDrove.IT VDP with Dynamic Market Pricing with Ron Morrison

The Automotive Advertising Experts show is hosted by Philip Zelinger, the President of Ad Agency Online. 

Philip will be joined by Ron Morrison, the President of iDrove.IT, on Friday, September 12th…

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Added by Philip Zelinger on September 10, 2014 at 4:35pm — 2 Comments

A Transparent VDP With Interactive Vehicle Videos Powered By Social Media Trumps The Best Dealer Centric Website.

Old school advertising agencies made the case that automotive advertising was designed to drive traffic to the dealership.  Get the phone to ring and make an appointment for the customer to visit the dealership to get the information they needed to purchase a vehicle; that was job one! 

The Internet and digital marketing changed that objective slightly as automotive advertising agencies focused on increasing traffic to their auto dealer clients' website so they could convert visitors…

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Added by Philip Zelinger on July 15, 2014 at 9:30am — No Comments

Is the auto industry ready for Crypto Coins?

About two months ago I set out on a journey to learn everything there was to know about bitcoin.  After looking at all the bad press I wanted to know why the media was so negative.  Lately, what's good is bad and bad is good for my wallet.  i came upon a Bitcoin Secret called ALT Coins.  I messed around with the open source code and bang!... I made AutoCoin. 

These coins can help identify people in market.  Customers will buy coins before purchasing vehicles.  They could also be…

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Added by Travis Mitchell on March 1, 2014 at 3:45pm — No Comments

Pricing Strategies for 2014 - Why Being The Cheapest Isn't Always Better

Since its inception the car business has blamed the Internet for leading the new and used car pricing race to the bottom. The OEMs, dealers, and consumers have all had to make adjustments as pricing information has become more accessible and transparent.

The story of TrueCar (version 1) has been a testament to the growing lack of harmony between dealers and vendors on that front.

Yet, plenty of data supports the fact that consumers aren’t just looking for the cheapest…

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Added by Devon Peterson on October 21, 2013 at 11:55am — No Comments

From the NCM Institute: Debunking “Retail Recon”: Why Your Used Cars Aren’t Competitive By: Wayne George

Written by Wayne George

Today's blog post is by Wayne George, an NCM Executive Conference Moderator for several NCM 20 Groups. Prior to joining NCM, Wayne spent 29 years in the retail automotive world. He was also a charter member of the NCM General Managers Top Twenty Group for seven years.

Your service department charging retail rates to recondition your vehicles isn’t really why you aren’t as competitive as you could be. Let’s look at some facts.

Domestic and import…

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Added by Garry House on March 21, 2013 at 9:58am — No Comments

From the NCM Institute Blog: Is Raising Your ELR the Right Solution for a Lackluster GPM? by Robin Cunningham

This is a story about a phone call I received several months ago from a service director who had recently attended our NCM® Institute class, Principles of Service Management I. Although not her real name, I’m going to call her “Debbie” throughout the…

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Added by Garry House on December 21, 2012 at 10:52am — No Comments

From the NCM Institute Blog: Corrected: Service Incremental Improvement Metrics

On May 8th of this year I published an Up to Speed article titled “Did You Ever Look at Your Service Gross Potential THIS Way  In that article I stated that NCM Institute…

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Added by Garry House on December 6, 2012 at 10:30am — No Comments

Turning Buyers Into Shoppers

I was amazed to learn that, during the research phase, customers spend 17 to 19 hours, on the internet, before visiting a dealership.  Much of that involves vehicle comparisons but anyone is naive if they don't think that price is a chief consideration.  A recent Cobalt study stated that the average consumer visited eight dealership websites.  These customers tend to be at the bottom of the sales funnel.  At this point, they should have narrowed it down to a…

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Added by Doug Davis on October 20, 2012 at 2:00am — No Comments

From the NCM Institute Blog: Are You Successfully Utilizing Your SPG/SPS Application?

Whenever I ask this question, I’m usually very disappointed with the answers that I receive. This past week, when I queried a group enrolled in the NCM Institute's regional Service Management training class in Charlotte, NC, only 20% responded with a “Yes.” My disappointment continues, and…

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Added by Garry House on September 18, 2012 at 12:48pm — No Comments

UPDATE to TrueCar Pricing

Five days ago on dealerelite.net I posted this Blog titled True Car Pricing. I reviewed the snap shot of Seven vehicles SOLD in a regional area. Today I went back to TrueCar.com and reviewed "My Vehicles". Check out the difference when four cars got added to the metrics from 7 to 11 Regional Sold.

 

According to TrueCar, if I would have purchased this vehicle…

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Added by Gary Sanders on December 13, 2011 at 2:16pm — 2 Comments

True Car Pricing

So I was searching on True Car for a model in my area and look at the pricing data.

So correct me if I am wrong.

True Car grabs pricing data based on transactions. These transaction prices are based on SOLD vehicles. After I added the Seven Cars in the example for the highs and lows, the "Good Price" does average out close to $37,794. …





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Added by Gary Sanders on December 8, 2011 at 1:25pm — 3 Comments

How to give controlled automotive pricing.....

Before the Internet, automotive dealers had more control of the customer. The only place customers could go for pricing information was the dealership. Now of course they could ask their automotive expert friend or uncle, but they really had no idea how pricing really worked in the automotive industry.

Today with the Internet, and sites that provide invoice pricing customers are more informed then they have ever been. The carmakers also have sites to provide customers will all kinds…

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Added by Ian nethercott on August 19, 2011 at 10:11am — No Comments

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