Launched in 2016, AutoGravity rapidly expanded from 100,000 users in its first six months to more than one million users less than a year later, according to officials. In 2017 alone, car shoppers have request more than $1 billion in vehicle financing through the fintech firm’s car-buying app.
Kerry Monica and John Perillo invested in a comprehensive retention program that has delivered an additional $274,000 in monthly labor and parts revenue.
Manheim’s growing collection of digital and offsite offerings promises dealers more ways to buy and sell vehicles.
Post-hurricane demand pushed up the firm's index 1.02% from the month prior and 8.1% from a year ago to 136.6
Dealers can be good teachers or bad teachers, and their influence on employees extends well beyond the showroom walls.
Terry Holmes Automotive Group has added the Motor Trend Certified program to six dealerships in South Carolina with a planned launch in Georgia.
The bureau concedes in its report that consumers are financing larger amounts and are electing for longer-term loans to keep monthly payments affordable. However, the regulator also notes that longer-term loans aren't having the desired effect in terms of default rates.
Transaction prices continue to rise at a slower pace, with the third-quarter average up just 1% after averaging 3% gains in the first half of the year. And while KBB expects solid sales in October, flat transaction prices combined with ever-growing incentive spending signal headwinds for the new-vehicle market as the year nears its close.
The new platform gives users of Pearl’s VehicleXchange incentive-based marketing solution the ability to know which consumers are new or pre-owned buyers, and can target by propensity, APR, payment amount, term and credit score, and more.
Flynn guided the company’s multi-year transformation effort. The executive is now set to replace Robert. N. Karp, who is leaving the company in December.
A study conducted by Jumpstart Automotive Media and Ipsos Connect sought to identify luxury car buyers and determine what motivates them, and the results were surprising.
Total revenue and gross profit were down 5% and 2% from a year ago, respectively, with Hurricane Irma having a significant impact on sales in the group’s core Florida and Georgia markets. F&I was a bright spot, with total gross profit up 4% and the group’s per-copy average increasing by $142 from a year ago to $1,547.
Marchex claims nearly 15% comparative improvement in components of speech analytics accuracy, providing marketers and sales teams with actionable insights from phone conversations between consumers and brands.
A study released by Marchex and based on 8 million calls to U.S. auto dealers found that nearly one-fifth of calls went unanswered or were abandoned by the customer, representing millions of dollars in lost revenue.
Despite the expected decline, October looks to be relatively strong on strong replacement demand in hurricane-impacted states and higher incentive spending. Kelley Blue Book analysts, however, believe these are indicators that new-vehicle demand is still contracting.
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