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Federal Reserve Study About Auto Sales: Don't Discount Millennials

Posted by Maria Shayna Tzouvelekis on Wed, Jul 27, 2016 @ 04:00 PM

With so many alternative modes of transportation on the market today, the automotive industry is keeping a close eye on new-vehicle purchasing data with the hope that sales don’t decline. Studies continue to analyze Millennials, questioning how their ride-sharing preferences and high student debt will affect auto sales.

A recent Federal Reserve study entitled The Young and the Carless? The Demographics of New Vehicle Purchases revealed new light-vehicle sales by four main age groups over the past 15 years: 16–34, 35–49, 50–54, 55 and over.

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Tags: Auto Sales, millennials

Hype Over Self-Driving Vehicles Excites Auto Dealers

Posted by Maria Shayna Tzouvelekis on Thu, Jun 30, 2016 @ 04:00 PM

It's as if the world's I.T. department and the largest names in the automotive industry are competing for who can do it better — self-driving vehicles that is. While not many autonomous vehicles have hit the streets yet, US auto dealers anxiously await snippets of stories released every day by companies like Google, Tesla and recently Rolls-Royce. The competition to launch the first production self-driving car has the fervor of a drag race where companies reveal virtual information via tweets, press releases and videos, practically revving their engines to grab your attention. This update combines the latest developer news in conjunction with established content.

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Tags: Auto Sales, Maria Tzouvelekis, Auto Dealerships, Automotive

10 Ways to Inspire Your Sales Team to Increase Sales

Posted by Maria Shayna Tzouvelekis on Tue, Jun 07, 2016 @ 10:00 AM

Keeping a sales team motivated can be hard work for an owner/operator or sales manager. In addition to engaging with potential clients and leads, you've got to hold it down on the sales floor and continually inspire employees to stick around and work harder. Salespeople may be short on motivation for a number of reasons.

According to Forbes.com, only 30% of employees in the US feel engaged and inspired by their careers. Common factors for workplace demotivation include micromanagement, lack of confidence in company leadership and plain ole’ boredom.

“It’s critical to find ways to ignite an entire department, not just identify your leading sellers,” says management consultant Doug Johnson. “You have to create a program that allows everyone to win at some level.”

With decades of experience and some tips from sales experts, we've accumulated a list of ten sure-fire ways to keep ‘em motivated to increase sales and perhaps make your supervisory position even more exciting.

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Tags: Auto Sales, Sales, Increase Sales

Using Features, Benefits and Advantages to Increase Auto Dealer Sales

Posted by Joe Gargiulo on Mon, Jun 06, 2016 @ 10:00 AM

What do automobiles, burritos and aged whiskey have in common? … As it turns out, quite a bit. The three seemingly different products have been marketed with taglines for a very long time. Consider “The Ultimate Driving Machine” by BMW, “Live Más” by Taco Bell, and more recently, actress Mila Kunis softly saying, “That’s how Jim Beam makes history. …How will you make yours?”

Taglines and slogans are the creative work of well-compensated advertising agencies that may chew up months of time and thousands of permutations developing a few simple words that are intended to express conscious and subconscious meaning that will resonate with consumers.

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Tags: Auto Sales, Auto Dealerships, Increase Sales

Auto Dealership Sales Ride Wave of Strong US Economy in 2016

Posted by Joe Gargiulo on Tue, May 24, 2016 @ 04:00 PM

US auto unit sales will nudge slightly in 2016, the seventh consecutive year of increase according to a special report by TD Economics released April 21, 2016. The six-page documents states that auto sales will “reach a peak of 17.6 million units this year before edging down to 17.3 million units in 2017.” The report attributes the bullish growth to “a solid economic backdrop and attractive financing conditions.”

The 17.4 million units sold in 2015 were the highest total on record while the movement of 17.1 units during the first quarter of 2016 represented a 2.5% increase over the same period one year earlier.

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Tags: Auto Sales

Using Nearby NASCAR Races to Promote Auto Dealerships

Posted by Joe Gargiulo on Tue, May 24, 2016 @ 10:33 AM

It’s only three months into the 2016 NASCAR Sprint Cup Series, and the big three manufacturers are already running neck-and-neck in the point standings: Toyota (420), Chevrolet (404) and Ford (368). In the months ahead, thousands of twists and turns will be negotiated by drivers — literally and figuratively — over the course of a long season ending November 20 at Homestead-Miami Speedway. Along the way, teams and fans will visit 23 tracks in 20 states as the series works its way through winter, spring, summer and fall.

Near each of those racetracks are auto dealers just itching to capitalize on the impending fanfare, some going full bore into the action while others lamenting about the “what ifs” from afar with forlorn expression. This article is about making the most of the potential opportunities as auto dealerships join the party, sell more units and increase sales opportunities.

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Tags: Auto Sales, Auto Dealerships, Automotive

Changes in Auto Buying Habits Could Favor Auto Dealers

Posted by Joe Gargiulo on Sun, Mar 20, 2016 @ 07:00 AM

Consumers financed their highest average on record for auto purchases during the final quarter of 2015 according to a report by Experian Automotive. Their average monthly payments also reached new highs.

Released in March 2016, the report states that the “average amount financed for a new vehicle in the fourth quarter increased by $1,170 from the prior-year period to $29,551 — the highest level recorded by Experian” while “the average monthly payment also rose $11 from a year ago to a new high of $493.”

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Tags: Auto Sales, Multiple Check, Joe Gargiulo, Auto Dealerships

How Auto Dealers Can Increase Sales to Millennials

Posted by Maria Shayna Tzouvelekis on Sat, Mar 19, 2016 @ 07:00 AM

In an insightful article about how automotive dealers can tap into the needs and wants of millennials*, four experts in their respective fields were asked what millennials really want. The article by Kurt Stephan appeared in the March 2016 issue of Dealer Marketing Magazine, and serves as a "teaching moment" for US auto dealerships. Topics include exploring and combating millennial stereotypes, the methods of communication desired by the generation, current auto trends, and addressing the specific financing challenges millennials bring to auto dealers. 

"[The current] supersonic rate of communication makes millennials — and a lot of today's car buyers — different from previous generations in that they expect faster, more efficient service in every aspect of car buying, from researching to buying to service," stated Dan Moore, Senior Director of Digital Strategy, VinSolutions. 

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Tags: Auto Sales, Maria Tzouvelekis, Auto Dealerships

New Truck and Auto Sales in the U.S. from 1931-2015 [Infographic]

Posted by Kevin Walli on Fri, Mar 11, 2016 @ 07:00 AM

Think you've got it hard moving the auto sales needle at your dealership in 2016? Imagine selling cars in 1931, two years into the Great Depression. 

The 40s were worse and you can guess why. For much of that decade, production of cars and trucks was halted in favor of wartime materials. Think ration cards and Rosie the Riveter. The 50s saw a boom in more than just the baby making industry. GIs had money to spend; there was a true middle class; and the Federal-Aid Highway Act of 1956 added 41,000 more miles to our Interstate Highway System, so auto sales took off.

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Tags: Auto Sales, Multiple Check, Auto Dealerships

CrossCheck Reviews Celebrity Car Collections - Part Two

Posted by Maria Shayna Tzouvelekis on Thu, Mar 10, 2016 @ 07:00 AM

CrossCheck Reviews Celebrity Car Collections - Part One

With more than 30 years in the payment industry, CrossCheck has had its fair share of auto dealership experience. But it doesn't take an expert to share in the delight of the luxurious car collections of celebrity drivers. This is part two of CrossCheck Reviews Celebrity Car Collections

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Tags: Auto Sales, Auto Dealerships

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