According to Black Book® data, the average price of a used vehicle for model years 2011-2015 depreciated by -0.6% in March. Cars overall saw depreciation of –0.3% versus trucks, which saw –0.8% depreciation. All vehicles are averaging a 12-month depreciation change of –17.9%.

In March, four vehicles including Compact Cars, Sporty Cars, Compact Vans and Full Size Vans, increased in value. Out of those vehicles, Compact Vans preformed the best, increasing by +2.1% in value. Vehicles in…

This morning at breakfast I noticed a group of three individuals at the table next to me were speaking French. I naturally wondered what brought them to the United States and the town I was staying in however, that didn’t matter. It did intrigue me however, after a little thought I couldn’t understand a word…

Some dealership personnel tend to do things that really boil down to just CYA stuff. A customer comes into the service drive and is made to wait while their vehicle is inspected for scratches, dents or dings, which can take a few minutes --- time a customer doesn’t have.

The most valuable currency on the planet is time. Everyone has too much to do with too little…

I just got off the phone on one of my phone coaching clients that's on my Train Retain Sell System.

Btw, if you haven't got a coaching call booked in with me for this month, you absolutely need to do it and I’ll tell you how to get one for FREE at the end of this article!…

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Newcomers to the sales team may often be steered off course by negative salespeople who perhaps are jaded from their many unsuccessful attempts in the field or…

Understanding the advantages of consumer leasing for your dealerships, sales team, and your customers if crucial for a successful and profitable increase in gross sales. While leasing is not for every customer, knowing when to confidently and professionally present consumer leasing as an option to customers will certainly maximize your selling potential.…

After a quarter of a century, auto dealerships have finally started realizing that technology works for them, not vice versa. As 2017 has opened the door for innovation, such as virtual reality, but in order to reach this level, the entire car industry needs to pull the brake and realize the benefits of a proven technology. And the key is in text…

As published in Fixed Ops Magazine~

Have you ever put a price tag on each of your service advisor’s chairs?  Well, you should! It’s probably worth much more than you realize. This chair has the potential to be the most valuable seat in your dealership. Just think about it. The person in this chair gets more selling…

Hey Car Dealer: Stop Letting Carvana (and Everyone Else) Define You! 

If you believe the corporate manifestos and marketing pitches of every automotive retail-related startup for the last twenty years, then you’d think America’s car dealerships are staffed by a bunch of puppy-kicking thieves providing zero value as they work overtime to deliver the absolute…

Good ideas always start with a bad one. Come to a meeting with an overflow of ideas and you're bound to find a good one out of the batch!

Watch this week's #ThinkTankTuesday to learn how you can improve your brainstorming meetings, marketing strategy ideas, and teamwork. Plus, Dan brought his dog.…

In today’s hyper-competitive industry, women buyers are crucial for dealer’s success. Almost 8 million new cars are being purchased by women alone. And, Certified Trusted Dealers are expanding their business to this powerful buying segment. In fact, these Certified Trusted Dealers have a cumulative 97.1% satisfaction score vs non-certified trusted dealers 85.5% satisfaction score. What a difference!

Women-Drivers has just compiled our annual comprehensive report on…

If everyday you woke up and weren’t tired….

If you were never sick…

If you never suffered the death of someone close to you…

If you never hit life’s walls- the sudden loss of a job you gave nearly half of your life to, the forced bankruptcy because the economy tanked, the 15 year ride or die marriage ending in divorce, watching your car get repo’d while you hold on to your 5 year old son for comfort, and/or the foreclosure of the only home your children…

Based on our research, the average Internet Manager, Inventory Manager, Sales Manager, GSM, and or GM spend an hour a day checking out the competition. Sure, an hour a day doesn’t seem to be too long when it comes to understanding the current market place, but what if you have 3 sales managers, 1 Internet Manager, 1 inventory manager, 1 GSM, and 1 GM, you can see the amount of time that is spent each day adds up.

Also, you must consider the amount of information you can truly find by…

Cars Performed Better than Light Trucks Last Week

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.…

Black Book, a division of Hearst Business Media that provides industry-leading used vehicle valuation and residual value forecast solutions, announced today the Black Book Used Vehcile Retention Index, designed to offer an unbiased, accurate view of the strength of today’s used wholesale market values. Click here to obtain a copy of the latest Index.

The Black Book Used Vehicle Retention Index is calculated…

You just interviewed a candidate for an open position at your dealership. You felt like the interview was a great success! The individual was very pleasant and conversations throughout the interview flowed naturally. Even though this person is your favorite candidate, should you really hire someone just because you like them? No. You're not picking a new friend on the…