Four Sources of OTDBs (Opportunities to do Business)

1)Walk-Ins for the first time

*Usually represents 50% of sales, however, should be less given the remainder of OTDB sources

 2)Internet OTDB…

Why Effective Onboarding Is More Important Than Ever

Meighan Newhouse

Forbes Councils Member

1 Employees need to be immersed in your culture from day one.…

Custom Report Offers Real-Time Visibility for Unique Dealership Inventory, Plus Key Data to Make Better Markdown Decisioning

DETROIT — Lotlinx, the auto industry’s leading VIN-specific data company for dealership inventory management, announced today a new Risk Report, offering a unique and customized view of a dealer’s inventory carryover, markdown, and aged risk data. This free report offers insights that…

 

New survey from eLEND Solutions shows 76% of dealerships today are less likely to want their DMS to handle the majority of sales and finance processes, and worry most about data breaches and phishing attacks, but lack adequate security assessments from vendor partners.

Foothill Ranch, Calif. – October 8, 2024 – The majority of auto dealerships are less likely to want their DMS to handle most of their sales and finance processes today than…

42% of credit unions report loan volume growth year-over-year, and 57% feel optimistic about rest of 2024, according to a new CULA survey, but uncertainties about presidential election and finance market pushing relief from liquidity and delinquency crises to 2025

San Diego, CA…

FOR IMMEDIATE RELEASE 

INTRODUCING DEALNOW: THE FIRST SAFE AND INSTANT PERSON-TO-PERSON ONLINE VEHICLE TRANSACTION PLATFORM 

Delivers Safe, Fast, and Fraud-Free Vehicle Transactions—Offering Instant…

As data breaches and cyber threats are more prevalent than ever in the automotive industry, the importance of data privacy and the sense of urgency of implementing solutions cannot be overstated. Industries like finance and healthcare have long understood the critical need to safeguard sensitive information, and they have established strict guidelines, laws, and mandates to protect consumer data.

The automotive industry, however, is only beginning to catch up. Despite the…

Automotive group collects thousands of school supplies and hundreds of backpacks at its dealerships in Western Washington and Southern California to distribute in the communities they serve

RENTON, WA – September 18, 2024 – “Car Pros Cares,” the charitable arm of the Car…

Many Dealers Still Leveraging Markdowns Even Though Majority Don’t See Traffic Increasing To VDPs

DETROIT (September 17, 2024) — Lotlinx, the auto industry’s leading VIN-specific data company for dealership inventory management, announced today results of its latest industry survey, which took the pulse of today’s auto retailers in understanding how they are managing inventory carryover strategies, and…

As summer comes to an end, it’s important for dealerships to reflect on the season’s performance to refine their strategies for the rest of the year. The summer of 2024 presented many challenges, shaped by economic factors and shifts in consumer behaviors. Understanding these factors is important for optimizing inventory management and enhancing sales practices as we head into fall.  

Economic Blockers and Market…

204 transactions, representing a record 381 franchises, were completed in the first half of 2024, according to the Second Quarter 2024 Blue Sky Report® by Kerrigan Advisors; activity was largely driven by an increase in sellers seeking to capture strong blue sky values and well-capitalized buyers

Incline Village, NV – September 9, 2024 – The auto dealership buy/sell market experienced an all-time record in the first half of 2024,…

Teamwork and CSI are like a relay race. It's not as important who starts or who finishes. What’s important is that the baton does not get dropped!

Are you constantly training & most importantly recognizing all who touch the baton? Salespeople? Service advisors? Techs? Car washers? Receptionists?

Building an intentional culture in your dealership takes sound leadership, collaboration, execution, and reinforcement.

However, it comes down to one simple formula...............

Intentional culture formula:…

Sale of #2 volume Buick GMC dealership in strong auto retail market reinforces continued demand for dealerships in the South; transaction marks Kerrigan Advisors’ 277^th dealership sale, 85^th since 2020 in the Southern region

MEMPHIS, TN – August 28, 2024 – Kerrigan Advisors, the premier sell-side advisor and thought partner to auto dealers nationwide, represented Memphis, Tennessee-based…

HUNT VALLEY, MD, July 25, 2024 – Armatus Dealer Uplift, the industry leader in Retail Warranty Reimbursement submissions, today announced that the Oklahoma Automobile Dealers Association (OADA) has endorsed Armatus as their exclusive partner for Retail Warranty Reimbursement services for their membership. This is the 24th endorsement Armatus has received from State Dealer Associations.

“It is my goal to bring exciting new services to our membership that will benefit them year after…

In the wake of recent cyber-attack threats and ransomware events, data privacy concerns have never been more top-of-mind for automotive dealerships and the entire industry. As auto dealers increasingly rely on digital platforms for customer transactions, especially coming out of the pandemic (COVID?), the need for robust data privacy strategies has become paramount.

However, many auto dealers continue to operate on legacy philosophies, and with an “I’ll deal with it if I have…

Elmer Wheeler coined the term in the 1930’s. Basically, he told customers the benefits they will get from a product or feature rather than what it did. He painted a picture convincing the customers how they would feel after using the product as well as what impact it would have on them. “It’s the sizzle that sells the steak and not the cow.”

Simple steps to sell the…

Sale of leading domestic brand in high-growth market highlights ongoing buyer demand in the Southern region; transaction represents the 276^th dealership sold by Kerrigan Advisors since inception and 70^th franchise sold year-to-date

ATLANTA, GEORGIA– August 13, 2024 –…

Gempton brings nearly two decades of automotive experience, including 13 years at AutoNation leading acquisitions and divestitures for the company; will expand Kerrigan Advisors’ footprint with the opening of a new office in Miami, Florida

Miami, FL   August…