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April 18, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Study: Car Dealers Are Best in Effective Lead Follow-Up
Complete Digital Car Buy Year Away, Says Cox Automotive Exec
Selling Above Sticker Price?
Mood in New York: Cautious Optimism
Surprise: 70% Of Millenials Do Not Want Electric Vehicles
Apple ‘Almost Certainly’ Exploring Making a Whole Car
Top Stories
Study: Car Dealers Are Best in Effective Lead Follow-Up

Car dealerships’ handling of leads outpaces other industries, according to Conversica, a provider of artificial intelligence driven lead engagement software for marketing and sales organizations. Forty-nine percent of the dealerships in a Conversica study responded to leads within five minutes, which is the ideal window for qualification and conversion. Conversica analysts examined nine industries and had secret shoppers visit a total of 538 companies, including 59 within the automotive industry.
Source: Auto Remarketing

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Complete Digital Car Buy Year Away, Says Cox Automotive Exec

NEW YORK – The ability to do car deals 100% online is about a year away, says Cox Automotive Chief Operating Officer Mark O’Neil, who urges dealers to board the digital train today. It’s a matter of giving customers what they want – or else, he tells WardsAuto. “When customers want something, they always get it ..."
Source: WardsAuto

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Selling Above Sticker Price?
By Christian J. Scali / Monica J. Baumann

Slick sales tactics can put dealers in hot water.

Have you heard the new one? A sales trainer is suggesting a new sales tactic that leads to salespeople regularly selling vehicles for more than the advertised price. The practice essentially invites customers to pay an additional amount above the advertised price as a tip for excellent service or for getting an exceptional deal. Sounds too good to be true? That’s because it probably is. Most states have laws that explicitly require that dealerships sell vehicles at or below the advertised price, often referred to as the “ad price rule.”
Source: The Scali Law Firm

Christian Scali is the founder and managing partner of The Scali Law Firm, an automotive law firm in California. His practice includes complex litigation. Monica Baumann is a senior associate at The Scali Law Firm whose practice includes advertising and regulatory review and advice and counsel.

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Mood in New York: Cautious Optimism

Incentives, inventories are top concerns

NEW YORK -- Auto executives are cautiously optimistic about sales in 2017. But that doesn't mean solid if unspectacular gains; it means flat -- or even down slightly from last year's record of 17.54 million. March U.S. sales slipped 1.7 percent despite higher spending on discounts and incentives, suggesting the long sales boom that gave the industry seven years of gains could be coming to an end. "We are over the top" of the peak in the current sales cycle, said Bob Carter, executive vice president of sales for Toyota Motor North America, at the NADA/J.D. Power Automotive Forum ahead of the New York auto show.
Source: Automotive News

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Surprise: 70% Of Millenials Do Not Want Electric Vehicles

Seventy percent of millenials do not want to buy an electric car and are much more interested in puchasing a traditional internal combustion engine vehicle, according to a new report. In addition, about two thirds would have significant reservations about riding in a self-driving car. Driving Tests, a driving test simulator that mostly caters to young people, surveyed 157,000 visitors to its website from March to April 2017. The results are surprising, if not shocking.
Source: Forbes.com

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Apple ‘Almost Certainly’ Exploring Making a Whole Car

Apple is "almost certainly" exploring how to build an entire car but would likely need to partner with a manufacturer due to the complexities of making a whole vehicle, a top analyst said. The comments come after it was revealed on Friday that the U.S. technology giant received a permit to test self-driving cars in California.
Source: CNBC

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Quotable
"Internet leads are an expensive resource, crucial to the success of automotive dealerships."

    -- Alex Terry, chief executive officer of Conversica, commenting on its new study, Auto Remarketing, April 17


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