April 2020

NEW YORK –  Predictive analytics and marketing automation company automotiveMastermind has partnered with a video communication company to implement a video feature that Mastermind says will help dealership sales teams personalize their communications with consumers. automotiveMastermind, part of IHS Markit, has partnered with Covideo to create a new product feature that helps dealerships connect with customers during coronavirus disruptions. With Covideo, users can create personalized, one-to-one videos to send to customers through various platforms. Covideo also provides real-time notifications, engagement metrics and detailed reporting. “Video Messenger,” which went live on Tuesday,… Read More »Feature allows dealerships to create personalized videos for customers

TROY, Mich. –  Kristin Kolodge says J.D. Power is “concerned for automakers.” Kolodge, who is executive director of driver interaction & human machine interface research for the company, says automakers are moving forward with technology such as self-driving and battery-electric vehicles, “that consumers seem to have little interest in.” Kolodge was commenting about J.D. Power’s 2020 Q1 Mobility Confidence Index Study fueled by SurveyMonkey Audience, released on Tuesday. The survey showed that consumer confidence in future mobility technologies is well behind automakers’ plans to bring self-driving and battery-electric vehicles to the… Read More »Tech failures hurt confidence in self-driving technology

Jasen Rice, founder and chief executive officer for the used-car marketing and inventory analysis company Lotpop, is taking a contrarian position about certified pre-owned sales as the auto industry comes out of its COVID-19 mandated slumber. “CPO is going to be the winner out of this,” he said. If, that is, the OEMs sufficiently incentivize certified pre-owned vehicles currently on dealers’ lots, he said. “Dealers will need to move the off-lease cars their OEMs push to them to get them off their books and make room for an inventory mix… Read More »Lotpop expert sees bright future for CPO post-COVID

CHICAGO –  People are sheltering in place across the country because of COVID-19. But Matt Schmitz notes that many of those people are making a brief escape from their homes and hitting the roads. “Our research shows that people just need a break from the daily monotony, and cars are serving as a safe, personal retreat for families,” said Schmitz, who is assistant managing editor for news for Cars.com. Schmitz continued, “We are even seeing a resurgence in an American pastime: The family Sunday drive.” New Cars.com research has resulted in… Read More »Consider these vehicles for a Sunday drive escape

LAWRENCEVILLE, Ga. –  Based on the dynamics described in the most recent updates compiled by Black Book, used-car managers might have one of the most difficult industry jobs nowadays. They’re seeing increased supply and decreased demand collide in the auction lanes, creating significant uncertainty about how to gauge trade-in values. “Sellers that focus on cheaper units are hopeful that the arrival of stimulus checks that were deposited in many American’s bank accounts last week will generate additional sales,” Black Book said in its newest weekly COVID-19 market update. “We have heard… Read More »Lane watch: Unprecedented challenges used-car managers now face

SOUTHFIELD, Mich. –  Being a publicly traded company, Credit Acceptance revealed current collection and origination performance trends that many other subprime auto finance providers also might be experiencing because of the coronavirus pandemic. According to a filing with the Securities and Exchange Commission posted on Tuesday afternoon, Credit Acceptance said, “the current outbreak of COVID-19 has adversely impacted our business, and the continuance of this pandemic and any future outbreak of any other highly contagious diseases or other public-health emergency could materially and adversely affect our business, financial condition, liquidity and… Read More »Credit Acceptance shares depth of crisis impact, delays Q1 report & shareholder meeting

Tuesday, Apr. 21, 2020, 09:48 AM CARY, N.C. –  The past six weeks have represented one of the busiest stretches ever experienced by the National Independent Automobile Dealers Association because of the coronavirus pandemic. NIADA senior vice president of legal and government affairs Shaun Petersen returned to the podcast, updating senior editor Nick Zulovich about an array of initiatives the association launched to help dealers as well as sharing some anecdotes about the creativity and resiliency of independent operators. To listen to this episode, click on the link available below, or… Read More »PODCAST: NIADA’s Petersen on independent dealer resiliency & association activities

URBANDALE, Iowa –  With Flick Fusion’s new live-streaming video communications application, dealership personnel can connect with vehicle shoppers and current customers, regardless of which operating platform the callers are on. The application is called StreaMe, and Flick Fusion is offering auto dealerships a free, no-obligation 60-day trial for a limited time. The company said it is offering the application at a time when car shoppers aren’t visiting dealership showrooms. Dealers using StreaMe can embed a click-to-call button anywhere on their website, including vehicle details pages. Any member of a dealership’s team who… Read More »Application creates virtual connection between dealership staff, car shoppers

ATLANTA –  Autotrader has debuted a new commercial spot highlighting various home services that dealers now offer to bring convenience and comfort to in-market shoppers while also minimizing in-person contact. The ad, titled, “Still Moving,” is meant to alleviate consumers’ car-buying concerns during the COVID-19 pandemic. Autotrader, sourcing the Cox Automotive COVID-19 Digital Shopping Study, said the crisis has changed how consumers are looking to shop. Two-thirds of shoppers are more likely to buy a vehicle 100% online, according to the study. Autotrader says that with its Dealer Home Services, dealers… Read More »Autotrader ad helps shoppers understand safe car buying options

TORONTO –  Stating that the product makes dealership employee and customer safety a top priority during COVID-19, Dealer-FX has launched a contactless check-in application that enables physical distancing. Mobile Check-In is the new application from Dealer-FX, a digital transformation and customer experience management company serving auto retailers and OEMs. The company describes Mobile Check-In as a safer alternative to kiosk services or face-to-face check-in. Mobile Check-In offers a “contactless” check-in process. Dealer-FX says that with social distancing in mind, customers can now use their mobile device to check in and sign… Read More »New Dealer-FX application offers a ‘contactless’ check-in process