May 2019 Blog Posts (67)

Do Stitched Photo Videos Provide Value, or are they Outdated Technology?

Stitched photo videos have been around awhile. I’ve had many people ask me lately if they are still relevant, do consumers really watch them, and why dealers should have them when they already have a large number of photos and vehicle description on the VDP. My response is to remove personal opinions out of the equation and let the “data” do the…

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Added by Timmy D. James on May 22, 2019 at 10:17am — No Comments

Value Your Company

We want you to be profitable and proud of what you do. We want you to have all the success that you deserve. We want you to know that it’s possible for you! That’s exactly why we started the video series, …

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Added by Damian Boudreaux on May 21, 2019 at 2:08pm — No Comments

Stable Market Except for Luxury Vehicles

Welcome to this week's edition of Black Book Market Insights, with in-depth analysis of used car and truck valuation trends and insights straight from the auction lanes. Click here to download the full report.

This week’s Market Insights Report…

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Added by Black Book on May 21, 2019 at 12:09pm — No Comments

NIADA Q1 Business Confidence Survey

Auto sales have faced slightly downward pressures so far in 2019, especially in April where U.S. auto sales declined 2.3 percent1 despite having an extra selling day in the month and having the benefit of the spring selling season as an added incentive for car shoppers.

With the monthly data, the annualized pace of sales dropped to 16.41 million1, below the estimates most industry observers pegged for the year closer to the 16.8 million mark. A year ago…

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Added by John Sternal on May 21, 2019 at 9:28am — No Comments

Helion Technologies Becomes a CIS SecureSuite Member

Timonium, MD –­ May 21, 2019 –­ Helion Technologies today announced it has become a CIS SecureSuite® member. Through this membership, Helion is bolstering its auto dealership clients' cybersecurity defenses by leveraging CIS SecureSuite resources. The CIS Benchmarks, the consensus-based, internationally recognized security configuration resources, CIS-CAT Pro, and the CIS Controls, a set of cyber practices developed by…

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Added by Erik Nachbahr, CISSP on May 21, 2019 at 8:51am — No Comments

Rplate, World’s First Digital License Plate and Winner of Best New Product Award, Featured at CONNECTIONS Conference May 21 - 23

Reviver demonstrates its award winning Rplate at Connected Car Corner, by InstallerNet, in San Francisco; Reviver also announced that the Rplate is the winner of a Best New Product Award from the 2019 American Business Awards



Foster City, CA – May 20, 2019 – Reviver’s Rplate, the world’s first digital license plate, will showcase  its award-winning…

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Added by Crystal Hartwell on May 20, 2019 at 10:39am — No Comments

Auto Lease Prices Remain Steady Into May As Dealers Prepare To Offer Memorial Day Shopping Incentives

Several Entry-Level Cars Experience Price Increases, Allowing Dealers Room For Greater Holiday Weekend Lease Discounts

Wantalease.com, the nation’s first online car lease marketplace for new lease deals, reports the latest update on new lease offerings, with prices on most of today’s popular leases holding steady from last month. Thirty-six different vehicles maintained their prices from April, a slight decrease from last month’s lease deals, where 75% of…

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Added by John Sternal on May 20, 2019 at 10:35am — No Comments

How to Decode Your VIN

VIN information is organized in groups, and a search of your vehicle identification number can tell you a lot about your car. There's even a bit of fraud detection in the VIN, in the form of the "check digit," described below.

The first group of three numbers and letters in a VIN make up the world manufacturer identifier (WMI).

In this…

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Added by Terrel Watkins on May 17, 2019 at 6:53pm — No Comments

What Do Goldfish Have in Common With Marketing?

In this video blog, Jim Flint shares why time is important in capturing consumer attention.

Added by Jim Flint on May 17, 2019 at 8:20am — No Comments

Latest Equifax Auto Credit Trends Illustrate Rising Subprime Activity

A few notes on subprime loan origination and balance activity:

Subprime auto loan originations have a corresponding total balance of $7.07 billion, a 5.3% increase year-over-year.

The average subprime loan amount was $18,934. This is a 5.0% increase compared to January 2018.

 

Auto Loan Originations Observations through January 2019 reported as of March 2019:

  • 1.78 million auto loans, totaling $41.3 billion, have been originated…
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Added by John Sternal on May 16, 2019 at 1:00pm — No Comments

Want A 5-star CSI Rating? Demanding It Doesn’t Work. Earning It Does.

When my friend, Erica* took her vehicle to the dealer recently, the needed repairs were performed quickly and competently. Yet, when the CSI survey came, she rated her overall experience three stars: “just okay.” Why not five stars: “excellent”? Well, because frankly, they didn’t earn it. This was the result of a couple very significant––and…

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Added by Stephen Coambes on May 16, 2019 at 10:48am — No Comments

Want A 5-star CSI Rating? Demanding It Doesn’t Work. Earning It Does.

When my friend, Erica* took her vehicle to the dealer recently, the needed repairs were performed quickly and competently. Yet, when the CSI survey came, she rated her overall experience three stars: “just okay.” Why not five stars: “excellent”? Well, because frankly, they didn’t earn it. This was the result of a couple very significant––and…

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Added by Stephen Coambes on May 16, 2019 at 10:48am — No Comments

The Great Race Against Time!

In today’s society, time is a precious commodity. So much so that consumers make their buying decisions based on how long it takes to complete the transaction. If you had the choice between a $20 oil change that would take 4 hours to complete, or a $30 oil change that would take 30 minutes, which would you choose?

For the automotive industry,…

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Added by Dan Beres on May 16, 2019 at 10:23am — No Comments

Value Your Time

In our video series Quality of Life, we’ve gotten to see so much about the high-level sales process of Ali Reda. We want you to be comfortable and successful in this business, and to do that you’ve…

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Added by Damian Boudreaux on May 16, 2019 at 8:27am — No Comments

Two-Ingredient Recipe for Used Car Success

Used car profitability expert Jasen Rice helps dealers distill an ocean of inventory stocking and pricing data down to the basics needed to increase turn and margin. Recon evangelist Dennis McGinn preaches faster time-to-line disciplines, so cars hit the sales line fresher so they can sell more quickly for better margin. 

Rice said dealers who prioritize stocking over reconditioning and online marketing, contrary to what many accept as gospel, cripples used car…

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Added by Jim Leman on May 15, 2019 at 5:23pm — No Comments

Can Amazon Reinvent the Traditional Store?

It’s a well-known fact that Amazon is on a mission to reinvent the traditional brick-and-mortar store model. Until recently, they were mostly focused on dominating online sales. However, it is clear Amazon is now looking to expand its footprint to include offline sales. A great example is the…

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Added by Michia Rohrssen on May 15, 2019 at 10:23am — No Comments

ECO:Vehicle Inspection for Used Car,Bike & Scooter

ECO is India’s most scientific, comprehensive and unbiased auto inspection & verification service for used cars, bikes and scooters. https://play.google.com/store/apps/details?id=in.droom.eco

Added by Stella Lemon on May 15, 2019 at 6:30am — No Comments

4 Ways to Procure Learner Driver Car Insurance

Car insurance is very essential because life is very unpredictable and you cannot really say when accidents may happen. Drivers with authenticating driving license and of preferable age would be able to get car insurance very easily. But younger drivers without a driving license or with a learning license find it very difficult to find car insurance…

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Added by nicola west on May 15, 2019 at 4:30am — No Comments

Luxury Segments Dropped and Pickups Values Increased

Welcome to this week's edition of Black Book Market Insights, with in-depth analysis of used car and truck valuation trends and insights straight from the auction lanes. Click here to download the full report.

This week’s Market Insights Report…

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Added by Black Book on May 14, 2019 at 1:05pm — No Comments

Auto/Mate Releases Deal Closeout for Desking Module

New Feature in Desk/Mate™ Designed to Streamline Auto Dealerships' Sales Process & Improve Their Workflow

Albany, NY – May 14, 2018​ – Auto/Mate Dealership Systems recently released Deal Closeout, a new feature in the Desk/Mate™ Module of its dealership management system (DMS). Desk/Mate users can now work and close deals all in one module, streamlining the sales process…

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Added by Mike Esposito on May 14, 2019 at 10:24am — No Comments

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