January 2021 Blog Posts (26)

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Added by Daniel Van Dyke on January 30, 2021 at 9:34pm — No Comments

At Virtual NADA ’21, Step into 3D Rapid Recon from Wherever You Are

VIRTUAL NEW ORLEANS, January 27, 2021The Next Rapid Recon at NADA ’21 will deliver simplified online mobile and desktop access to the latest products, features, and best practices in new and used vehicle reconditioning and speed to sale solutions for dealers attending this uniquely different National…

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Added by Jim Leman on January 28, 2021 at 10:41am — No Comments

Funneling Marketing Dollars to Generation Z Buyers

Generation X is at peak buying power with the lucrative Millennial generation not far behind. Marketing to both of these generations is a smart, long-term play. However, another big buying group is ready to give its predecessors a run for their money: Generation Z.

 

Born between 1995 and the mid 2000s, Generation Z accounts for slightly over 20 percent of the US population and holds…

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Added by Phil Spagnoli on January 27, 2021 at 9:02am — No Comments

New One View Vault Key Enables Seamless Data Searches Between One View Vault and Auto Dealership Applications

Users can use the Vault Key to initiate searches of the One View Vault archiving platform without leaving the DMS screen or other applications

 

Indianapolis, IN – January 26, 2021 – One View, an auto industry-specific data solution specialist, announces the launch of the Vault Key search application for One View Vault. Vault Key…

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Added by Travis Peterson on January 26, 2021 at 8:56am — No Comments

Inovatec Systems Corporation Introduces New OCR (Optical Character Recognition) Feature Within its JAVELIN Platform

Automatic Document Indexing Will Drastically Increase Transaction Accuracy and Speed for Financial Institutions

Inovatec Systems Corp., a provider of industry-leading, cloud-based software solutions for all financial institutions, announced today its JAVELIN platform now offers OCR (Optical Character Recognition) for automatic document indexing and sorting. The OCR technology uses custom-built AI machine-learning to allow financial institutions…

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Added by Vladimir Kovacevic on January 25, 2021 at 12:53pm — No Comments

Pros and Cons for Buying a Car from the Dealership

Buying a car is one of the huge investments in your life. You should make sure that you buy the car through the most reliable source if you don’t want to regret your decision later. When it comes to buying a car from the dealership, you should analyze both its pros and cons first. It will help you see both sides of a picture before making a final decision.

Here are a few pros and cons of buying a car from the dealership mentioned.…

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Added by Asad Shoaib on January 24, 2021 at 8:26pm — No Comments

Car Sales Training – The Ultimate Objection Handling Guide

When handling objections in car sales, it’s important to understand the reasoning for objections, and show empathy and agreement for a buyer’s position. Not only have they been raised to be wary of the car buying process, but this is also a huge purchase for them – perhaps the largest they’ve ever made. As such, objection handling needs to be approached with understand and a good attitude.

Moreover,…

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Added by Kyle Disher on January 23, 2021 at 8:30pm — No Comments

Where Do Car Dealers Buy Their Cars?

You can find a lot of options when it comes to buying a car. However, the point to ponder is where do car dealers get these cars from? Different dealers would have unique models of cars. Also, every car that dealers present is identical in terms of its condition, mileage, color, specifications, and a lot more aspects. It is good to have the know-how of the sources or places they get the cars from. It will also help you make an informed decision.

Here are a few sources mentioned where…

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Added by Asad Shoaib on January 23, 2021 at 3:47am — No Comments

Used Car Calamity: The Safety Sinkhole Growing Beneath Our Industry

Despite the pandemic, consumers are still in-market for vehicles. Manufacturers, at one point, were forced to slow production due to local and state regulations. As a result, some dealers have been struggling to maintain a full inventory of vehicles to offer car shoppers. Of course, dealerships cannot control when (or how many) new vehicles they receive from…

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Added by Sean Reyes on January 22, 2021 at 8:00am — No Comments

Who's Watching the Watchman?

A dealership is a complex organization with a lot of moving parts. With only so many hours in a day, an Owner or GM has to trust the CFO & Controller to handle financials. But as the saying goes: absolute power can corrupt absolutely. Who’s watching the watchman at your dealership?

 

Of course, I’m not saying that every Controller is…

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Added by Travis Peterson on January 20, 2021 at 9:15am — No Comments

There's Always More

Our video series, Be Aware of Your Business, has been taking you on a journey of self-discovery. It’s all about awareness, folks! And that presence in every moment, that goodness that you bring to the lives around you, that ease in who you are is going to move your business to that next level.  Let’s continue our discussion from last week, and really press in on that apple…

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Added by Damian Boudreaux on January 19, 2021 at 2:30pm — No Comments

Analyzing the Features of Heavy Duty Tarps

Summary: Buying heavy-duty tarps is easy if you know what to consider. Find out all about buying tarps from here.

If you are yet to become familiar with heavy-duty tarpaulin, you need to understand the industrial and commercial purposes. From covering boats, outdoor furniture, grill, boats, and cars, the…

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Added by Harris Scott on January 19, 2021 at 6:12am — No Comments

The Virtual BDC Today

The Virtual BDC is becoming more and more popular for dealerships everywhere. During this pandemic, many dealerships are still not operating at full capacity. Using a Virtual BDC solves this problem. Enabling dealerships to scale business without the burden and expense of having to hire, train, and pay people. A Virtual BDC will fulfill and pace at double the before seen levels.

A Virtual BDC operates with a streamlined process 100% of the time with 100% of the customers. The focus…

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Added by Morgan Hardy on January 15, 2021 at 6:31pm — 1 Comment

Why a virtual BDC is essential for your service department today

The future looks bright for service departments. According to research firm HIS Markit, the average age of a vehicle on the road today is a geriatric (for cars) 11.9 years. People are holding onto their cars longer, which can generate new business opportunities for your service department.

 

However, you can’t just expect a flood of service work. Someone needs…

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Added by Damon Sefa on January 13, 2021 at 1:25pm — No Comments

Cadillac Dealers Betting Big on EV or Taking the Chips Off the Table

As the nation attempts to further reduce emissions, many states have begun initiatives to phase our gas-powered vehicles. At the moment, multiple problems exist if someone were to snap their fingers and make every vehicle electric. On the vehicle and infrastructure side, there is a lack of charging stations and range is limited. While these are increasing…

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Added by Sean Reyes on January 13, 2021 at 11:14am — No Comments

The Kerrigan Index™ Broke Records for Auto Stock Valuations in 2020

 

 After a volatile start to 2020, The Kerrigan Index out-performed the S&P and rose to all-time highs; all seven component companies hit record market capitalizations in 2020  

 

INCLINE VILLAGE, NV – January 13, 2021 – Kerrigan Advisors, a leading sell-side advisory firm and thought leader to auto dealers in the U.S., has released The Kerrigan Index for December 2020/Year in Review. Comprised of the seven…

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Added by Crystal Hartwell on January 13, 2021 at 10:58am — No Comments

Lease Credit Approval Rates Rise to 72.7% in December

Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 72.7% approval rate in December.  The approval rate is significant considering approval ratings hit a low of 63.8% in April, the lowest rate reported since January of 2018.

With the holiday season being an optimal time to buy or lease a vehicle, it is no surprise that approval ratings saw an increase in December. According to Experian’s…

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Added by John Sternal on January 13, 2021 at 9:01am — No Comments

The Community Model

Okay, friends! Now we’re really getting somewhere. So far in our video series, Be Aware of Your Business, we’ve been walking you through your past. You’ve been gaining awareness in who you are, in your process, and in what your customers want. And now, we’re going to begin to make that shift.

Let’s talk about your community. You…

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Added by Damian Boudreaux on January 11, 2021 at 2:30pm — No Comments

What is a Virtual BDC?

                Are you familiar with a VBDC? A Virtual BDC is designed to take some of the work load off the dealership. The program is designed to offer help by taking the initial inbound call for you. Staff is highly trained to handle the calls accurately 100% of the time. The purpose is not to to change the process that the dealership already has in place, but to improve it. A Virtual BDC does not “replace” your in-house BDC.

               Having a Virtual BDC handle the incoming…

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Added by Morgan Hardy on January 8, 2021 at 6:05pm — 1 Comment

How Kings Toyota Improves Used Car Competitivness

Kenwood Dealer Group is 15 dealerships in the Cincinnati, Ohio market. Dan Kommeth joined in early 2020 to fill a newly created position, Group Sales Director, assigned to strengthen the stores’ competitive advantage.

Convinced that positive customer experiences begin well before a lead or walk-in arrives, Kommeth started his new assignment by investigating processes that flow into profitable car sales.…

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Added by Jim Leman on January 7, 2021 at 9:34am — No Comments

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