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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 shows how cars overall held better retention than trucks this past week, with Sporty Cars again increasing slightly. The report also shows the latest two-year retention trends for Compact Cars, which have actually remained stable compared to last year. “The used vehicle market values remain unusually strong. The depreciation rates last week were the lowest in eight weeks,” said Anil Goyal, Executive Vice President, Operations. Volume-weighted, overall car segment values decreased by just 0.09% last week. In comparison, the values had decreased at a rate of 0.30% per week during the previous four weeks. Among car segments, Prestige Luxury Car values decreased the most last week. Volume-weighted, overall truck segment (including pickup

Most of us in the automotive community are painfully aware that our nation is in the middle of a recall epidemic -- and will be for decades to come.  A low percentage of recall repair compliance pushes the numbers of vehicles on the road with open recalls ever higher, with no relief in sight.   The reality is that recalls are like the black plague for vehicles … while they do not kill that many humans – or at least not yet -- the casualty rate for vehicles keeps climbing almost daily. And legislators are frustrated.   If manufacturers and dealers can’t find an effective method to notify consumers and persuade them to repair their vehicles at an authorized dealership, then this recall train is on a collision course. Or, as one senator stated in a Consumer Reports article , the National Highway Traffic Safety Administration (NHTSA) “seems to be playing a game of regulatory whack-a-mole and twiddling its thumbs” in its enforcement efforts.   In my humble opinion, the biggest proble

I recently read an interesting article in Forbes about cause-based marketing which states that  55 percent of consumers would switch brands and/or pay more for a product or service to a company that demonstrates solid social values that the consumer also cares about.   This type of marketing is a win-win as it can position your dealership favorably to your customers while also helping those in need through charitable contributions. The great thing is that dealers are some of the most generous contributors to their local communities already. Cause-based marketing is simply marketing who your dealership is (brand identity) through sharing the causes that are important to your dealership.   Now don’t get me wrong here. There is a time and a place for this and nothing is more off putting than a business that constantly bangs its chest about how good it is and demands that you look at all its done. And, I also realize that some people prefer to just make the donation anonymously, purel

Have any of you had success with QR Codes? By some reports they are making a comeback. But, on the other side of the coin, on an episode of Shark Tank late last year, renowned venture investor Chris Sacca commented that QR codes are “the herpes of mobile technology.”   Yes, pretty harsh, but his words, not mine!   Technology is sometimes a fickle thing. In 1994, a company named Denso Wave created QR codes. Marketers were excited as this was an interactive and easy way to pass information onto the consumer. An interesting aside is that, according to an article on Gizmodo, Denso Wave was owned by Toyota and this technology was initially used to “track vehicles as they were assembled and to scan components at high speed.”   Over the years auto dealers have wavered on the use of QR codes as most consumers disliked the difficult process of scanning them. According to ComScore, by December 2011, seventeen years after their introduction, only 20 percent of Americans, 16 percent of Canad

It’s no mystery in leading the marketing through SMS or Email etc. Clients can never come approaching you; you need to develop a relationship with them and which requires some effort. People are now close to their mobile phones, tablets, etc. and carry them everywhere. So, the next thing you can think of building a relationship is through sending SMS which by far the direct line of getting in touch with someone. Sending a promotional message with some sensitive offers to those who have shown consent in getting alerts and updates about your business could be a big marketing approach and one of the effective communication modes. Practicing effective SMS marketing strategy The direct line communication with contacts: You can contact your customers directly through SMS, but before planning on a strategy of SMS marketing, you need to have consent from your customers for the messages. It's worthless effort if you are sending SMS for business awareness and they are ignoring it becaus

When a car already has the best-in-class features, then bringing out an all-new generation with major updates in design and technology becomes a very tough task for the car manufacturer. This much-awaited third-generation Swift definitely meets all the demands of the new-age customers, along with the addition of the anticipated automatic gear shift in both the petrol and diesel versions. The new Maruti Suzuki Swift price in New Delhi starts at INR 4.99 Lakh and goes up to a maximum of INR 8.29 Lakh. Maruti Suzuki Swift Key Features The new additions in the tech department, completely upgraded design and the fuel-efficient engines are sure to make this hatch one of the most sought-after family cars in India. New Swift Exterior and Interior The new Swift has got major styling updates inside and outside. It gets fluidic design top, sporty full LED DRLs, LED tail lamps, new sleek sweptback headlamps, dual-tone alloy wheels and an all-new aggressive front grille. With Swift, you get l

Shopping for a used vehicle can sometimes seem daunting. It can be hard to locate deals that are worth it. If you’re searching for a used vehicle that’s economical yet amazing, there are several things you can do. Never settle for a used car that’s out of your price range. Ask Around It can never hurt to ask people around you if they know others who are trying to sell their vehicles. You may just find out about a deal that’s simply too good to pass up. Your neighbor may have a cousin who is attempting to sell an old pickup truck. Your coworker may have a spouse who is trying to get rid of a sedan that’s too big, too. Visit Auction Websites on the Internet The Internet is home to many reputable auction websites that have designated used car sections. If you’re thinking about purchasing a Dodge Ram that’s preowned, you may be able to find something online. Online used vehicle listings include many a pre-owned Ram , because they have such a good selection. They come with clear picture

One of the most exciting days of your life can be the day that you buy your first car. When buying a car, it is important to remember that it is also a very important responsibility. When you buy your first car, there are five very important things that you must do. Get Insurance The first thing that you should do when you get your first car is contractor liability insurance . Car insurance is required everywhere in the country. You should spend time talking with a local auto insurance agent to figure out a policy that works best for you. In most cases, you should opt for a full policy, including collision and comprehensive coverage. Registration Depending on where you live, you may also need to have state and local registration in place to drive your car legally. You may be able to get this initial registration from the dealership, but you may have to go to the local DMV. If you do not get this in place in time, you could be assessed parking and driving fees. Cleaning Once you

Digital Marketing: It’s Time for OEMs to Rethink Their Co-Op Programs This article was not written to be cute or semi-controversial. It was also not written for dealers to read, nod their heads and then do nothing. It was written for dealers and OEM executives to get beyond the bullshit being fed to them by […] The post Digital Marketing: It’s Time for OEMs to Rethink Their Co-Op Programs appeared first on DealerRefresh . by Steve Stauning via DealerRefresh

Not All Discontinued Vehicles Depreciation Alike Black Book, a division of Hearst that provides industry-leading used vehicle valuation and residual value forecast solutions, made available today a new analytics-driven report that looks at why certain vehicle models were discontinued over the last several years, and how they’ve retained their values since discontinuation. Click here to view the complete analysis. Some car and truck models, despite their popularity, are discontinued because manufacturers simply move production strategies in a new direction. When this happens, certain models retain their values better than their segment average, while others see retention values plummet. Black Book conducted a thorough analysis that includes a mix of small- and mid-size cars, trucks, SUVs and minivans. Their discontinuation dates vary over the last few decades, and the reasons for their discontinuation are as diverse as the vehicles themselves. As an example of this analysis, Black bo

While you look for car loans in Montgomery try to get pre-approved auto loan. It will secure a better interest rate as well as peace of mind about getting the vehicle. Now, if you are worried about how to get auto loan preapproval this article will come handy. Here Are Some Reasons : You Know How Much To Borrow When you start looking for a car you may or may not know that how much credit is available. Thus, it becomes very difficult for you to set any budget about the cost of the vehicle. Once you have got pre-approval you know that this is the limit for buying the vehicle. You must keep a percentage of the loan amount for paying the taxes and the fees. Moreover, it becomes easier for you to estimate whether you can fit the car installment in your monthly budget or not. Get Protection From Dealer Markups While shopping for car loans you will find that if you do not research the interest rate then you will be giving some points extra every month. When accumulated it will quite a

If you find marketing a bit of a dark art, aren't good at it, or don't enjoy it, here are some tips to help you improve, and even enjoy, your marketing activities! Marketing seems to scare some eBook writers they tend to either claim that they are not very good at it, or actively dislike it. Which is odd, because marketing an eBook is just about communication via the written word; writers   like   communication (and research, writing, etc.) and are naturally good at it! According to writers with Your Homework Help services, marketing an eBook is simply determining the benefits of the eBook, and framing them as solutions to the problems posed by the potential readership. That ought to sound (or at least feel) very, very familiar. Marketing is Just Research When you started the eBook project, what was the   first   thing you did? If youre serious about making money through eBooks, youll remember that the first things you did were: Researching a market niche; Identif

Why do people need the help RV title loans in day to day life? Nowadays people are opting for recreational vehicles (RV) because it increases the fun element in their lives . Along with enjoyment , it also gives them the freedom of travelling anywhere they want   to along with their families at minimum cost because they don’t have to spend the extra amount of money behind motels and itineraries. One advantage of buying this is that people can pay off the entire amount month wise in a timely fashion, but there can be some sort of medical emergency where they might require the money which they are using for paying off the cost of RV. During this time people take the help of RV title loans. RV title loans at your help! People who have bought a RV and needs money to pay off the cost , they can opt for RV title loans  and use their RV as a security. This loans is very similar to car title loans , the only difference is that the money lenders takes the RV   instead of the car and holds

Are you looking for perfect NSF data to PST migration solution to know about How to Export Lotus Notes NSF data to Windows Outlook? Then read this blog that will help to overcome from the problem of conversion Lotus Notes NSF data to Outlook. Before describing the migration solution about it, explore other information of IBM Notes, Outlook and its extensions. Tips on Lotus Notes Lotus Notes mail client, a platform which provides individual programs to users that may prove usable in commercial management. The app basically holds of calendar, emails, items, feeds, etc. It is generated in order to use the database over WAN & LAN settings. To help Lotus Notes’ performance, the experts took charge in control the impeccable server – Domino, which was previously known as Lotus Notes Server. It effectively uses all the receiving & distribution task of IBM Notes mails data situated in the Lotus mailbox. However, in many conditions, users do not observe its unusual execution & oth

Every industry is in a continued state of development. That means new trends, new buyer habits, and definitely new sales tactics. If you don't adapt to modern times, don't expect your sales to resemble anything significant. Get effective by getting with the times, and here are some steps you can take to get there.   1. Have A Clear Business Idea And Strategy   It is important that you do your research while having an honest discussion with yourself regarding the results. For example, is there a market you can target? And if not, can you create one? Are people willing to pay for your product and how much is it going to be? These are facts you need to have before you attempt to start selling anything.   2. Organize And Prioritize   You only have a limited time throughout the day, so you have to make each second count. The only way you can do this is by prioritizing and getting organized. Establish what needs to be done on a daily, weekly, and monthly basis, then you start

Every industry is in a continued state of development. That means new trends, new buyer habits, and definitely new sales tactics. If you don't adapt to modern times, don't expect your sales to resemble anything significant. Get effective by getting with the times, and here are some steps you can take to get there.   1. Have A Clear Business Idea And Strategy   It is important that you do your research while having an honest discussion with yourself regarding the results. For example, is there a market you can target? And if not, can you create one? Are people willing to pay for your product and how much is it going to be? These are facts you need to have before you attempt to start selling anything.   2. Organize And Prioritize   You only have a limited time throughout the day, so you have to make each second count. The only way you can do this is by prioritizing and getting organized. Establish what needs to be done on a daily, weekly, and monthly basis, then you start

In states like Georgia, we have seen that there are a lot of auto title pawn companies or stores which can offer you a loan in a matter of some minutes. An important thing that we should unquestionably clear is that many people get caught in figuring out the difference between the auto title loans and the car title pawn, but they should not worry because both of these are the same thing.  The great thing about the title pawn is that with it one can get quick cash and his credit history is not taken into account as well. If you are suffering from the financial crisis or need money in a hurry for some emergency situation then opting for the title pawn is a good option. Among all the various items on which you can get the title pawn the auto title pawn is one of the best choices regarding the value of the loan because with one can get up to $10,000. So, if you need cash in a limited time, then you should quickly find the best pawn store near you and turn your vehicle into a lot of bucks.

When you spend time shopping around for a new truck, you inevitably will notice that automakers love to tout the power of their models and their incredible performance capabilities. In addition to horsepower, you may find information about traction, stability, towing and payload capabilities and more for each truck model that you consider buying. After you take your preferred new truck home, it is understandable that you would want to put your truck to the test and experience what its true capabilities are. However, there are some serious consequences associated with some off-road activities that you need to be aware of. Flood Damage In many off-road environments, your truck may come in contact with a substantial amount of water. For example, you may be off-roading next to a river or stream when you lose traction and find yourself in the water. Your truck likely does not have snorkeling capabilities, so there is a good chance that interior water damage and engine damage will occur.

One of the questions I receive most often from dealers is whether or not they are overpaying for their third-party classifieds. The dealers overall agree that third-party classified sites (*TPCs) are a foundational element in a successful digital marketing strategy, however they are concerned as the pricing has continued to climb over the years. It seems to […] The post 3rd Party Classifieds Battle to Win-the-Click appeared first on DealerRefresh . by George Nenni via DealerRefresh

Creating a Service Drive Experience to Maximize Retention Bringing a car to the service drive for maintenance and repairs is necessary, but few customers look forward to the task. Even the smallest repair can take time out of the day and create an inconvenience. Yet, for a dealership, service revenue is huge to the bottom line. And the best way to keep service revenue growing is to ensure your customers come back on repeat visits. By the Numbers Women are often the ones who bring a car to the service drive. So, let’s look at women’s satisfaction ratings and trends compiled by Women-Drivers.com in 2018: 90% of women report that the work was done to their expectations. That is a good number, but what about the 10% who weren’t happy? Where will they go next time? Nearly 15% report they are not happy with the way they were greeted by the service advisor. Women will bring their car to someone they trust. How much service revenue are you losing due to poor attention? 25% of women repo

Need more leads? Whenever sales are slow, one of the first reactions from salespeople, and sometimes their managers, is to proclaim they need more leads or better leads.   In response, they might run a lead generation campaign which results in a temporary lift in lead volume. The problem is, when the campaign ends, the lead volume drops back to less than optimal levels.     A better, more consistent approach is to build a lead generation process into your culture. The process should also include lead follow up, so you’re maximizing the potential of every lead.   If sales is a numbers game, then your CRM is the PlayStation. Lead volume is an important number, but equally so are connection rates, set appointments, appointment shows and closing rates. The answer to more leads is to build a sales culture around the CRM and to focus on CRM usage .   I’m a big believer that usage and enforcement of processes must come from the top down. In the most successful stores, it’s typically a