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Monday, Aug. 29, 2011 RSSSEND TO A FRIENDPRINT
Inside This Issue
NADA Study Crunches Numbers on Store Renovations
Consumer Spending Rebounds, Rose 0.8 Pct. in July
Toyota Reclaiming Buyer Loyalty
Shopping Around the Best Bet for Vehicle Financing
Pennsylvania Dealership Exec: Mascot 'Makes Customers Feel Good About Doing Business With Us'
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Top 5 Stories
NADA Study Crunches Numbers on Store Renovations

Prompted by relentless complaints from dealers about manufacturer facility programs, leaders of the National Automobile Dealers Association are trying to find answers for members facing pressure to renovate. NADA is funding a study to find out what drives manufacturer demands for store improvements - and whether the investments provide payback for dealers and the factory. Those answers should help dealers make better investment decisions and will be shared with automakers in an effort to help shape facility programs, NADA Chairman Stephen Wade said. "One size doesn't fit all ..." he said. Former McKinsey & Co. partner Glenn Mercer is conducting the study. NADA officials stress the study will be independent and fact-based.
Source: Automotive News

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Consumer Spending Rebounds, Rose 0.8 Pct. in July

Consumer spending grew in July by 0.8 percent, the largest amount in five months. That followed a decline in June and helped ease fears that the U.S. economy is on the verge of another recession. The increase in spending was led by a 1.9 percent jump in purchases of durable goods, products such as autos and appliances that are expected to last at least three years. Spending on non-durable goods rose 0.7 percent.
Source: The Associated Press

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Toyota Reclaiming Buyer Loyalty

Toyota has won back all of its loyal car buyers since last year’s public-relations debacle over reports of unintended acceleration in some models, says Jim Lentz, chief operating officer-Toyota Motor Sales U.S.A. The auto maker also has regained about 75% of its conquest intenders, or those intending to buy a competitor’s vehicle, he tells the media during the ’12 Camry’s unveiling here. Toyota's market share dropped to 15.2% in 2010 after peaking at 17% in 2009. Lentz says Toyota's market share is rebounding. “But I won't promise 17% again,” he says. The Toyota executive forecasts an overall market of 12.5 million units this year, reaching 13 million units in 2012 and 16 million by 2015.
Source: Ward's Auto

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Shopping Around the Best Bet for Vehicle Financing

Give credit where credit is due: Financing for auto customers is a lot easier than it was less than three years ago. "We have ample credit available," says Marc Cannon, senior vice president of the Fort Lauderdale-based AutoNation, which owns the country's largest auto dealership network. "And it continues to improve." Chad Rogers, general manager of Classic Mazda and Holler Hyundai in Orlando, says that when the manufacturers are offering attractive low-interest deals, the majority of the dealership financing goes there, "especially the customers with the top-tier credit ratings." Otherwise, his dealerships maintain close ties to several banks, and even credit unions are becoming more aggressive in seeking business outside their captive credit union membership. The bottom line: Shop for credit just as you do a new car or truck.
Source: Orlando Sentinel

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Pennsylvania Dealership Exec: Mascot 'Makes Customers Feel Good About Doing Business With Us'

Conicelli Auto Group is out to prove that nice guys can finish first. The Conshohocken, Pa., retailer developed a mascot dubbed "Mr. Nice Guy" to complement its longtime advertising slogan, "A nice place to do business." And the pitch seems to work. The group -- which sells Honda, Hyundai, Nissan, Toyota and Scion -- is about 25 miles from Philadelphia and last year had its best sales year ever. Mr. Nice Guy didn't single-handedly sell all those vehicles, but the brand campaign "makes customers feel good about doing business with us," says Michael Hammond, vice president of sales and marketing.
Source: Automotive News

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More articles

Aug. 26, 2011 - NADA Calls for Nominees for 'Hiring Our Heroes' Award

Aug. 25, 2011 - New Car Dealerships Increase in U.S.

Aug. 24, 2011 - Autos, Aircraft Lifted July Durable Goods Orders

Aug. 23, 2011 - Ford, Toyota to Work Together on Hybrid Trucks

Aug. 22, 2011 - NADA's Chief Economist Expects New-Vehicle Sales to Remain Relatively Strong

 
Quotable
"We want to find out the truth so these important decisions can be based on facts, not perceptions."

    -- NADA Chairman Stephen W. Wade, referring to an independent study that will analyze the cost effectiveness of factory image programs, which require new-car dealers to invest billions of dollars each year, NADA Newsroom, Aug. 29
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Convention News
Las Vegas Hotel Rooms Selling Out Fast; Register Today

The Encore at Wynn and the Wynn, two hotels in NADA's housing block for the 2012 convention in Las Vegas, have already sold out. Rooms in the popular Bellagio are going fast. Register today to reserve a room in the 12 remaining hotels, including Treasure Island, a high-energy resort featuring elegant sleeping rooms and floor-to-ceiling windows with views of the Las Vegas strip. Convention registration is now open online.

Foundation News
NADA Foundation Program Reaches 500th Ambassador
Marketplace
NADA 20 Groups for Fixed Ops Managers Meeting this Fall; Controllers/CFO Groups Now Forming

NADA 20 Groups for Fixed Ops Managers focus on service, parts, and body shops issues. Dedicated fixed operations professionals from similar volume, non-competing dealerships use their combined experience, the best-in-class financial composite and knowledgeable consultants to tackle the issues that are most important to fixed operations. Call Diane Carnovsky, 20 Group Sales Manager, at 703.749.4744 to reserve a spot.

IT Committee Highlights Importance of Online Reputation Management

NADA Used Car Guide Adds VIN Scanner App to its Mobile Products

HP's Small but Mighty PC

Super Savings from Lenovo

 
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