THREE AUTO INDUSTRY TRENDS YOU NEED TO WATCH IN 2015
VIDEO: Fed Policy, Leasing, and 140 New Car Launches could make 2015 a Little Dicey for Dealerships
There are three trends in the automotive market that are going to make or break dealer sales and profitability in 2015.
Grab a pen and make notes as John Humphrey, Sr. Vice President, Global Automotive Operations, spells out what the J D Power team sees as trends that matter— Interest rates, leasing, and new vehicle launches.
A change in the interest rate policy of the Fed means that car loans are going to cost more. The growth of leasing in the last 3 years means that a greater volume of used vehicles are coming back into the secondary market for dealers. The successful launch of 140 new vehicles in 2015 will be “a bit dicey” and impacted by the increase in interest for auto loans and leases but will also mean more new vehicles competing for market share.
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News You Need to Know
Honda Motor Co. has added to the Takata recall as it becomes what’s already one of the biggest recalls of the year spanning 10 automakers – and may eventually eclipse General Motors’ massive recall.
However, the issue with recalls goes well beyond the Takata recall – Carfax says that one in six vehicles on U.S. roads have a faulty part recalled by the automaker, but the vehicle has yet to be taken in for repair by the vehicle owner.
The good news is that Carfax has several solutions to help dealers easily find out about open recalls. As a Carfax® Advantage Dealer®, you can run all the Carfax® Vehicle History Reports™ you need to know about open recalls at acquisition and disclose them to buyers at retail by showing them the Carfax.
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A new collateral management platform has been introduced that will help vehicle finance companies reduce the time and costs related to funding and servicing automobile loans through dealer operations.
This loan systems has a unique intuitive interface feature that goes beyond simple vehicle tracking within the loaning process for dealers and lenders, allowing them to process more loans more quickly.
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It’s that time of the year again – time to plan for next year.
For those of you selling and servicing electric vehicles, hybrids, fuel cell vehicles, and other green machines, there are a few events to know about.
Here’s a list of car shows and conferences to consider attending. Plus, at the end of this event list there’s yet another list: Ways to make the most of events and conferences, even if you hate going to them!
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View All While customers rely on Manheim to buy and sell used vehicles, they also look to the company to provide value-added wholesale services.
To help customers take advantage of these services in the most efficient and effective way, Manheim has selected Shane O’Dell as senior vice president of wholesale services, a new role within the company.
Manheim’s wholesale services include vehicle transportation, reconditioning, condition reporting, export and more. He will report to Janet Barnard, executive vice president and chief operating officer of Manheim North America.
Follow The Leaders
Black Book® has promoted Jared Kalfus to Senior Vice President of Sales where he will expand his current role overseeing Data Licensing and Lender Solutions to now include the sales team of Black Book’s Activator Division. The promotion further solidifies Black Book as the leading provider of data and insight to the broader automotive industry, which relies on data-driven solutions to serve customers across every aspect of the automotive supply chain.
“The expansion of Jared’s leadership role is a strategic decision that provides stronger integration of resources for Black Book’s automotive dealership customers,” said Tom Cross, President of Black Book.
“Black Book’s innovative data-driven solutions reach every corner of today’s automotive channel. Jared will leverage his expertise in sophisticated data platforms to lead our sales teams focused on offering customers a new level of profit potential, particularly at the automotive dealership level.”
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