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October 2011, Auto Dealer Today - WebXclusive

Inventory Management Is Really Cash Management

By David Keller, CPA, CFE

Do you watch and calculate how many times your inventory turns each year? Do you know what your return on inventory investment is? David Keller, automotive industry accounting expert, explains how to determine these things and more.

Tags: BDC

October 2011, Auto Dealer Today - WebXclusive

Website Referrals

By Jason Ezell

Industry expert Jason Ezell discusses how different websites like Facebook and third-party sites can provide both direct and indirect traffic to dealership websites.

Tags: BDC

September 2011, Auto Dealer Today - WebXclusive

Performance Improves When Measured

By Don Reed

Fixed operations expert Don Reed discusses the importance of measuring performance and outlines 28 different stats in the service and parts departments that should be measured for individual employees to evaluate performance.

Tags: BDC

September 2011, Auto Dealer Today - WebXclusive

Disclosures in Auto Finance - Lesson 1: Advertising Disclosures

By Nicole Munro

Attorney Nicole Munro explains advertising disclosures required by the Truth-in-Lending Act (TILA) and Regulation Z.

Tags: BDC

September 2011, Auto Dealer Today - WebXclusive

Four Sources of BHPH Inventory

By Alan Mosher

Buy here pay here expert Alan Mosher discusses a few of the sources dealers can turn to in order to find more vehicles that fit their BHPH business model.

Tags: BDC

September 2011, Auto Dealer Today - WebXclusive

The 2011 Independent Retailers of the Year

Auto Dealer Monthly has featured the Top 50 Independent Retailers of the Year since 2006, and this year’s Top 50 features dealers from all over the U.S.—from the Pacific Northwest to Southern Florida. Auto Dealer Monthly and this year’s corporate sponsor of the awards, the 2011 Special Finance Conference, are honored to recognize the efforts of the Top 50 Independent Retailers of 2011. The Independent Retailer Awards are designed to recognize the efforts of the dealer principals. Since many i

By ADM

Auto Dealer Monthly has featured the Top 50 Independent Retailers of the Year since 2006, and this year’s Top 50 features dealers from all over the U.S.—from the Pacific Northwest to Southern Florida.

Tags: BDC

September 2011, Auto Dealer Today - WebXclusive

Positive News and Energy Surround the SF Market

By Greg Goebel

Special finance expert Greg Goebel discusses the good news and not-so-good news about the finance industry he learned at the NAF Associations 2011 conference.

Tags: BDC

September 2011, Auto Dealer Today - WebXclusive

Best Practice in One State Can Lead to Jail in Another

By Thomas B. Hudson, Esq.

Attorney Tom Hudson discusses how best practices in some dealerships can be prohibited in other dealerships due to state laws. One example he mentions is bird-dog programs.

Tags: BDC

September 2011, Auto Dealer Today - WebXclusive

You Are What You Surround Yourself With

By Joseph Clementi

Dealership General Manager Joseph Clementi offers tips for improving the performance of different types of salespeople.

Tags: BDC

September 2011, Auto Dealer Today - WebXclusive

Where and How Independent Dealers are Spending Their Marketing Dollars

When customers come into one of the InstaCredit Automart stores, many of them ask about the dogs. “We bring them to work every day, take them down to the showroom and people play with them,” said Birger. Most of the time the dogs are at the Collinsville, Ill., location, but he sometimes takes them to the other locations to visit. The majority – roughly 70 percent – of the group’s advertising and marketing budget goes to television (about 53 percent on broadcast and 17 percent on cable). Radio

By Jennifer Murphy Bloodworth

Author Jennifer Murphy speaks to six successful dealers of varying sizes across the county about the combination of old- and new-school tactics that keep their ad budgets low and cars moving off the lot.

Tags: BDC

September 2011, Auto Dealer Today - WebXclusive

Driversselect Adapts Boldly to Become a Driving Force in the Dallas Market

A couple years ago, Steve Hall, owner of driversselect in Dallas, Texas, noticed customers were shifting more towards the Internet for purchasing, so he shifted his operation that way as well. Now his customers can practically complete the sales process online, from choosing a vehicle to selecting which finance company to work with.

By Alexandra Barlow

Imagine a customer coming in completely ready to purchase and driving off the lot in a new vehicle just an hour later—with no hassle or negotiation. This is the reality every day at driversselect. Writer Alexandra Barlow looks at the dealership's successful business model overhaul.

Tags: BDC

September 2011, Auto Dealer Today - WebXclusive

Selling in the Dog Days of Summer

By Brent Carmichael

BHPH expert Brent Carmichael breaks down the formula for selling during the dog days of summer—training, appearance, marketing and advertising.

Tags: BDC

September 2011, Auto Dealer Today - WebXclusive

Develop Niches in Your Used Vehicle Department

By Courtney Cole

Dealer Courtney Cole explains how having multiple niches within a used vehicle department can benefit dealers.

Tags: BDC

September 2011, Auto Dealer Today - WebXclusive

Making Connections with Employees and Customers

By Kirk Manzo

F&I trainer, Kirk Manzo, discusses the importance of how a leader communicates with his or her staff and provides tips on how to effectively communicate with the four different styles of communicators.

Tags: BDC

September 2011, Auto Dealer Today - WebXclusive

Embrace Technology in the Dealership

By Allen Dobbins

Technology expert Allen Dobbins provides an example of how dealers are using data to help with inventory management and discusses what he sees for the future of the car-buying process.

Tags: BDC

September 2011, Auto Dealer Today - WebXclusive

Dealing with DMS Redundancy

By Alexandra Barlow

One major area of concern for dealers is what happens if their DMS goes down. DMS redundancy was one issue Blake Ledet, IT manager, addressed for the Team Automotive Group.

Tags: BDC

September 2011, Auto Dealer Today - WebXclusive

Team Automotive Group Experiences Big Savings in IT

By Alexandra Barlow

At Team Honda Automotive in Baton Rouge, La., the IT department has generated significant savings for the dealerships through smart computer purchasing, auditing phone bills, and getting creative with printing.

Tags: BDC

August 2011, Auto Dealer Today - WebXclusive

The Three Phases of Dealership Digital Marketing

By David Pritchard

Proper implementation of digital marketing in a dealership is a three-phase process. David Pritchard, director of marketing and public relations for Gentilini Motors, walks dealers through the basics of understanding consumer behavior, developing a digital marketing strategy and building an online presence

Tags: BDC

August 2011, Auto Dealer Today - WebXclusive

Five Tips to Get Started With WordPress

By Joe Chura

Joe Chura, a dealership Internet director, explains how dealers can start a WordPress blog in five easy steps, including a few suggested plug-ins.

Tags: BDC

August 2011, Auto Dealer Today - WebXclusive

Wrong Assumption on Dealer Participation Leads to Faulty “Study”

By Thomas B. Hudson, Esq.

Thomas Hudson of Hudson Cook LLC, discusses the Center of Responsible Lending’s report entitled, "Under the Hood: Auto Loan Interest Rate Hikes Inflate Consumer Costs and Loan Losses."

Tags: BDC

August 2011, Auto Dealer Today - WebXclusive

How Dealers Can Harness the Power of Data

By Jennifer Murphy Bloodworth

Data analysis yields valuable information about online auto shoppers that can be used in the development and functioning of a dealership’s sales department. When applied to the decision-making process, dealers can use this data to their advantage both online and offline.

Tags: BDC

August 2011, Auto Dealer Today - WebXclusive

Tracking Your SF Numbers

By Greg Goebel

Special finance expert Greg Goebel explains why two dealers who contacted him were missing SF opportunities and how they can improve their SF operations. He also introduces the Special Finance Profit Analyzer, which dealers can use to see exactly how they stack up next to benchmark SF dealers.

Tags: BDC

August 2011, Auto Dealer Today - WebXclusive

Technology in a BHPH Business

By Mark Dubois

Mark Dubois, BHPH expert and consultant, discusses how technology has affected the following five areas of BHPH: dealer management, inventory, underwriting, collections and asset recovery.

Tags: BDC

August 2011, Auto Dealer Today - WebXclusive

Identify Savings in These Dealership Operations

By David Keller, CPA, CFE

Expert CPA David Keller details seven different areas dealers should review annually to look for possible savings.

Tags: BDC

August 2011, Auto Dealer Today - WebXclusive

Service Customers are Opportunities for Vehicle Sales

By Joseph Clementi

Joseph Clementi, a dealership general manager, explains how a busy day in service can also be a busy day in sales.

Tags: BDC

August 2011, Auto Dealer Today - WebXclusive

Inventory Management is Really a Matter of Choice

By Scott Dreisbach

Scott Dreisbach discusses how technology can help dealers make better inventory management choices more accurately and faster than ever before.

Tags: BDC

August 2011, Auto Dealer Today - WebXclusive

Five Technology Products to Increase Fixed Operations Sales and Profits

By Don Reed

Don Reed, fixed operations expert, discusses five technologically advanced products that will increase dealerships’ fixed operations sales and profits if used properly.

Tags: BDC

August 2011, Auto Dealer Today - WebXclusive

Drive Away Cars Offers Customers a Better BHPH Experience

By Jennifer Murphy Bloodworth

One Virginia buy here pay here dealer shares his story of how he got into the BHPH business over a decade ago and how he strives to provide BHPH customers with a better car-buying experience.

Tags: BDC

August 2011, Auto Dealer Today - WebXclusive

Five Tips to Increase Leads with Chat

By Greg Wells

Live chat can increase your site’s conversion rate by as much as 50 percent at a relatively low cost, says Greg Wells, industry expert, who also discusses five tips to increase leads and ultimately sales with live chat.

Tags: BDC

August 2011, Auto Dealer Today - WebXclusive

The Secret Behind an Award-Winning Internet Department at Hines Park Lincoln

Hines Park Lincoln of Plymouth, Mich., has been serving Metro Detroit for over 40 years, and the dealership was named FordDirect's Lincoln Internet Dealer of the Year in 2009 and 2010. The dealership relies on a BDC, which was founded in 2004, to properly work Internet leads and set appointments for the sales team.

By Alexandra Barlow

Hines Park Lincoln implemented a business development center in 2004 to better manage Internet leads. The success of that department helped the dealership achieve the title “Lincoln Internet Dealer of the Year” in 2009 and 2010 from FordDirect.

Tags: BDC

July 2011, Auto Dealer Today - WebXclusive

Squeeze Out More Sales with a Squeeze Page

By Greg Goebel

Special Finance Expert Greg Goebel details how and why he changed his opinion of how some dealers are using squeeze pages to generate more leads and sales.

Tags: BDC

July 2011, Auto Dealer Today - WebXclusive

Five Tips for a Stronger Dealership Website

By Allen Dobbins

Technology Expert Allen Dobbins shares five tips for dealers who want a strong Web presense.

Tags: BDC

July 2011, Auto Dealer Today - WebXclusive

Digital Marketing for Dealerships Can Be Frustrating

By Harlene Doane

Dealership Internet directors share what frustrates them the most about digital marketing, including frustrations with websites, vendors and different media.

Tags: BDC

July 2011, Auto Dealer Today - WebXclusive

Ken Shaw Automotive Reaping Rewards with Customer Loyalty Program

In late 2009, the owners of Ken Shaw Automotive decided it was time to implement a customer rewards program, an idea they'd been considering for years. The program was up and running by April 2010, and by April 2011, the dealership had sold about 50 vehicles to customers who applied their rewards points and received a discount.

By Jennifer Murphy Bloodworth

When Ken Shaw Automotive’s rewards program first went live in 2010, Vice President and Co-owner Paul Shaw wasn’t exactly sure what to expect. In the past year the dealership has sold 50 vehicles to customers who redeemed points from the rewards program.

Tags: BDC

July 2011, Auto Dealer Today - WebXclusive

Dealers, Be Prepared to Defend Outside Your State

By Thomas B. Hudson, Esq.

Industry Attorney Tom Hudson outlines how a Georgia auto dealer was sued in Pennsylvania court.

Tags: BDC

July 2011, Auto Dealer Today - WebXclusive

Why Dealers Invest in Digital Marketing

By Jennifer Murphy Bloodworth

Dealers and managers share their insight on several different types of digital marketing along with why digital marketing is important, reasonable expectations for digital marketing, and time and money investments.

Tags: BDC

July 2011, Auto Dealer Today - WebXclusive

Online Marketing for Your Buy Here Pay Here Operation

By Brent Carmichael

Brent Carmichael, BHPH industry expert, covers the best and most cost effective ways to ensure your dealership has an Internet presence.

Tags: BDC

July 2011, Auto Dealer Today - WebXclusive

Make Online Reputation Management a Priority

By Tony Troussov

Tony Troussov, the general manager of Walser Toyota Scion, covers why dealers should monitor and measure their businesses’ online reputations and suggests how a dealership can begin monitoring and growing the number of positive reviews online.

Tags: BDC

July 2011, Auto Dealer Today - WebXclusive

Six Traits of Top Performers Your F&I Managers Need

By Kirk Manzo

Kirk Manzo, F&I trainer and expert, discusses six traits of top-performing salespeople and F&I managers.

Tags: BDC

July 2011, Auto Dealer Today - WebXclusive

Define Success Metrics to Better Evaluate Data

By Jason Ezell

To properly evaluate data from Internet marketing efforts, industry expert Jason Ezell explains that dealers must first define success metrics for the different types of online marketing.

Tags: BDC

July 2011, Auto Dealer Today - WebXclusive

Building Sales in the Service Department

"Simply having the menu is useless unless [advisors] have the proper words and scripts to use to thoroughly explain it to the customer, build value and ask for the sale ... An inspection is only as good [for upselling] as an advisor's ability to sell the work." - John Widiger, General Manager, John Youngblood Motors

By Kimberly Long

The service department can become a profit machine with the right tools, processes and training. The use of maintenance menus and inspection checklists is a great place to start to focus on effective upselling.

Tags: BDC

June 2011, Auto Dealer Today - WebXclusive

The Five Most Common Mistakes Made by Dealers in Special Finance

By Greg Goebel

As the special finance market continues its upswing, dealers are making many of the same mistakes over and over. Special Finance Expert Greg Goebel discusses the most commonly repeated mistakes in the most critical areas of special finance.

Tags: BDC

June 2011, Auto Dealer Today - WebXclusive

Reconditioning Options for BHPH Dealers

By Mark Dubois

BHPH dealers have different options when it comes to who reconditions their inventory. Mark Dubois, buy here pay here expert, explains how a BHPH dealer who’s also a new car dealer might handle it versus how a BHPH dealer without an existing service facility might handle BHPH reconditioning.

Tags: BDC

June 2011, Auto Dealer Today - WebXclusive

The Importance of Continuing Education in the Dealership

By Courtney Cole

Dealer Courtney Cole covers the importance of continuing education for auto dealers and their managers, and why it’s a small price to pay to be the best.

Tags: BDC

June 2011, Auto Dealer Today - WebXclusive

Check State Law Before Charging Fees

By Thomas B. Hudson, Esq.

Attorney Thomas Hudson shares insightful correspondence he had with another lawyer who represents dealers regarding finance charges, TILA, Regulation Z and more.

Tags: BDC

June 2011, Auto Dealer Today - WebXclusive

Jerry Seiner Chevrolet Boasts Robust Wholesale Parts Business

At first glance, Jerry Seiner Chevrolet in Salt Lake City, Utah, looks like most other dealerships. However, behind the scenes is a mammoth parts department that regularly sells between $1.6 and $1.7 million in parts a month, of which about 60 percent is wholesale. To meet demand, the dealership has a warehouse that stocks $3.2 million in parts.

By Kimberly Long

At Jerry Seiner Chevrolet in Salt Lake City, Utah, the parts department has been cultivated to a level of success not seen by many, thanks in no small part to its wholesale operation. The department sells $1.6 to $1.7 million in parts each month.

Tags: BDC

June 2011, Auto Dealer Today - WebXclusive

Who Is Watching the Parts Department?

By David Keller, CPA, CFE

The parts department is the only department in the dealership that can place an order for almost any type of part and never be questioned about it. CPA David Keller explains why dealers should look at their parts departments to see how it’s really being managed.

Tags: BDC

June 2011, Auto Dealer Today - WebXclusive

Optimism Abounds in Fixed Operations

By Don Reed

Fixed operations expert, Don Reed, follows up on his previous article with facts and figures about dealers’ compliance with the Five Rules of Engagement for Service Customers. With dealers reporting more service customers coming in, dealers stand to earn a lot more business if they adhere to the rules 100 percent of the time.

Tags: BDC

June 2011, Auto Dealer Today - WebXclusive

Fixing Your Fixed Ops Online Presence

By Greg Wells

Trainer Greg Wells explains the importance of a dealerships fixed operations department having a presence online. He discusses having a Google Place page, collecting online reviews, having the proper information on the dealership website, potentially offering an online service scheduler, and other options.

Tags: BDC

June 2011, Auto Dealer Today - WebXclusive

Dealers Put Groupon to the Test in Fixed Operations

"[The service manager] thought it was the greatest thing since sliced bread to get close to 100 new customers ... into our service department." - Chris Brown, Dealer Principal   Subaru of Puyallup

By Kimberly Long

Five dealers explain how they used Groupon to drive service and fixed operations traffic.

Tags: BDC

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