CBT Automotive Network Podcast

How to Increase Sales at Your Dealership with AI Powered Assistants | Four Top Issues for Dealers | New Leadership for Major OEM

Today on CBTNews.com - Thursday, January 17th, 2019:

How to Increase Sales at Your Dealership with AI Powered Assistants - John Ruble, Conversica

AI powered assistants have shown to be highly effective for increasing sales, quality of service, and improving other activities around the dealership. These virtual aides help dealers handle more sales leads and manage your most viable follow-ups. Joining Jim today to further discuss artificial intelligence in your dealership, is John Ruble, vice president of strategic partnerships at Conversica.

Washington Update: Four Top Issues for Dealers

While tax laws are an outlier for this year, the top legislative trends that will likely impact dealers the most have to do with emerging technologies. EVs, AVs, and even data collection methods are set to see some overhauls in 2019. These issues will significantly affect selling strategies, as well as the types of vehicles that could be attractive to consumers. Judging by the potential shrinking of sales for 2019, knowing how government legislation could impact the operation of your dealership is more important now than ever before.

New Leadership for Major OEM

As predicted, Nissan's investigation into the alleged Carlos Ghosn scandal has now made its way to the United States. Hans Greibel of Automotive News discussed the implications of it with the owner of a Nissan dealership in Florida who reported that Nissan North America had held a conference call in which “they assured us that all of our resources and the direction we're going is still in place,” but automotive experts and dealerships across the country are skeptical.

AI powered assistants have shown to be highly effective for increasing sales, quality of service, and improving other activities around the dealership. These virtual aides help dealers handle more sales leads and manage your most viable follow-ups. Joining Jim today to further discuss artificial intelligence in your dealership, is John Ruble, vice president of strategic partnerships at Conversica.

Finding New Paths to Profitability at Your Dealership - Trevor Gile | What Cadillac’s Announcement Means for the EV’s in 2019 | Selling More Cars During Tax Season

Today on CBTNews.com - Wednesday, January 16th, 2019:

Finding New Paths to Profitability at Your Dealership - Trevor Gile, Motorcars Honda

The annual NADA show is just around the corner, and just like us here at CBT you're probably gearing up for the great events that lie ahead. Joining Jim today is Trevor Gile managing partner of Motorcars Honda, to discuss an event he is hosting at NADA called Bourbon and Bubbles.

What Cadillac’s Announcement Means for the EV’s in 2019

One of the hottest automotive trends of recent years has been the rise of the Electric Vehicle (EV). With companies like Tesla setting the pace, it is no surprise that many other manufacturers have placed a greater emphasis on introducing more EV’s into the market. Of all the OEM’s struggling to keep up with Tesla, none seems to be more dedicated to developing EV’s than General Motors. GM recently reinforced this position with the announcement of an upcoming electric crossover SUV under the Cadillac nameplate.

Your Dealership Could Sell More Cars During Tax Season Than You Would Imagine

Let’s face it: taxes are rarely anyone’s favorite topic. Few people look to tax season with anticipation, with the exception of accountants… and dealerships? That’s right. Dealerships who play their cards right could cash in big when taxes are due. IRS data from 2017 shows that the average taxpayer was refunded $2,895. While a good portion will use their check to pay off debts or bolster their savings, there is almost always a sizable population who will look to spend it on a large purchase. This means that soon there will be buyers in your area shopping for a car.

The annual NADA show is just around the corner, and just like us here at CBT you're probably gearing up for the great events that lie ahead. Joining Jim today is Trevor Gile managing partner of Motorcars Honda, to discuss an event he is hosting at NADA called Bourbon and Bubbles.

Combating Rising Interest Rates, Managing Vehicle Inventory, and Reducing Your Margin Compression - Brian Finkelmeyer | Building Diversity in Your Leadership Rolls | Oil Companies to Usher in an Age of Electric Vehicles

Today on CBTNews.com - Tuesday, January 15th, 2019:

Combating Rising Interest Rates, Managing Vehicle Inventory, and Reducing Your Margin Compression - Brian Finkelmeyer, vAuto

Every dealer knows that as your vehicle assets depreciate, your profit margins begin to shrink. The two major causes of inventory depreciation? Age and holding costs. Joining Jim today is Brian Finkelmeyer, senior director of conquest at vAuto. Brian lends us his insight into combating rising interest rates, managing new vehicle inventory, and dealing with margin compression.

Why Building Diversity in Your Leadership Rolls is Important

Diversity in the workplace can be a contentious word. Many interpret the directive to mean that a variety of external likenesses need to be present in their dealerships, without understanding how this adds value outside of being a nod towards political correctness. This conclusion leads to many dealerships missing out. They either hire with an eye toward filling a perceived roster of “diversity” or reject the idea altogether.

Two Standard Oil Companies to Usher in an Age of Electric Vehicles

If you’ve been on the fence about introducing Electric Vehicles (EVs) to your customers, now is the perfect time to get on board. Previously, one of the largest hurdles for selling EVs was the dearth of charging stations which made the mode of transportation unreliable for most drivers, hence the popularity of Hybrid Electric Vehicles (HEVs). Rising prices per barrel and governmental policies towards supplying countries have consumers questioning the sustainability and affordability of an oil and gas transportation system.

Every dealer knows that as your vehicle assets depreciate, your profit margins begin to shrink. The two major causes of inventory depreciation? Age and holding costs. Joining Jim today is Brian Finkelmeyer, senior director of conquest at vAuto. Brian lends us his insight into combating rising interest rates, managing new vehicle inventory, and dealing with margin compression.

Rhett Ricart, NADA Vice Chairman-Elect on the Future of the Car Business | Automotive Retail Trends for 2019 - Matt DeLorenzo | Market Predictions and New Car Buying Trends for 2019 - Bill Wittenmyer

CBT News Week In Review for Friday, January 11th, 2019:

Automotive Retail Trends for 2019 - Matt DeLorenzo, Kelley Blue Book

2018 has been a year of continued innovation and big advances in technology, and with these changes comes new demands from consumers. From car buying experiences, to preferences, and car ownership expectations, there’s certainly a lot for dealers to consider in the new year. On today’s show, Jim Fitzpatrick speaks with Matt DeLorenzo, managing editor at Kelley Blue Book to discuss some major innovations the industry saw at December’s L.A. Auto Show as well as where auto retail is headed this year.

Retail Auto Finishes 2018 on a High Note - Jessica Caldwell, Edmunds.com

Historically low unemployment, new tax cuts, and a sharp decrease in gas prices set the tone for yet another strong year for 2018. According to numerous projections, the industry is likely to see the fourth consecutive year above 17 million vehicles. Here to tell us more about the December numbers is Executive Director of Industry Analysis at Edmunds.com, Jessica Caldwell.

Rhett Ricart, NADA Vice Chairman-Elect on the Future of the Car Business, Tariffs, and the 2019 NADA Show

As we gear up for the annual NADA show in San Francisco at the end of this month, we’re pleased to welcome Rhett Ricart, Vice Chairman-Elect. Rhett is also President and CEO of Ricart Automotive and today, he speaks with Jim Fitzpatrick about his career in the auto industry and what we can expect from the upcoming NADA show.

Market Predictions and New Car Buying Trends for 2019 - Bill Wittenmyer

It’s crucial for dealers to start the new year off on the right foot, and that begins with being mindful of market predictions and new car buying trends. On today’s show, Jim Fitzpatrick speaks with Bill Wittenmyer, vice president of sales and operations for eLead CRM, now part of CDK Global, to discuss what we’ve learned so far from car subscription services, advances in digital retailing, and the importance of your dealership’s online presence.

Market Predictions and New Car Buying Trends for 2019 | What Incentives Do Your Employees Want the Most? | What Your Body Language Says About You On The Sales Floor

Today on CBTNews.com - Thursday, January 10th, 2019:

Market Predictions and New Car Buying Trends for 2019 - Bill Wittenmyer

It’s crucial for dealers to start the new year off on the right foot, and that begins with being mindful of market predictions and new car buying trends. On today’s show, Jim Fitzpatrick speaks with Bill Wittenmyer, vice president of sales and operations for eLead CRM, now part of CDK Global, to discuss what we’ve learned so far from car subscription services, advances in digital retailing, and the importance of your dealership’s online presence.

What Incentives Do Your Employees Want the Most?

In 2019, employee incentives are more important than ever in hiring and retaining good talent. The economy is strong, and workers have more choices and more power in the job market than we have seen in a very long time. In this job market, compensation is much more than just salary. Employees want the basics of health care, retirement and Paid Time Off (PTO), but they also want more. Here are some employee incentives that are worth your attention for 2019.

What Your Body Language Says About You On The Sales Floor

These are just a few ways non-verbal ways that you can enhance your performance while interacting with customers in a one on one setting. Used effectively, you can successfully offer not just great customer service but service excellence to each and every potential consumer that walks on to your sales floor.

It’s crucial for dealers to start the new year off on the right foot, and that begins with being mindful of market predictions and new car buying trends. On today’s show, Jim Fitzpatrick speaks with Bill Wittenmyer , vice president of sales and operations for eLead CRM, now part of CDK Global, to discuss what we’ve learned so far from car subscription services, advances in digital retailing, and the importance of your dealership’s online presence.

Rhett Ricart, NADA Vice Chairman-Elect on the Future of the Car Business, Tariffs, and the 2019 NADA Show | 3 Tips for a Smoother Subprime F&I Experience | Is There Still Value in Print Advertising?

Today on CBTNews.com - Wednesday, January 9th, 2019:

Rhett Ricart, NADA Vice Chairman-Elect on the Future of the Car Business, Tariffs, and the 2019 NADA Show

As we gear up for the annual NADA show in San Francisco at the end of this month, we’re pleased to welcome Rhett Ricart, Vice Chairman-Elect. Rhett is also President and CEO of Ricart Automotive and today, he speaks with Jim Fitzpatrick about his career in the auto industry and what we can expect from the upcoming NADA show.

3 Tips for a Smoother Subprime F&I Experience

If your dealership works in the subprime space at all, you already understand the challenges that come with these deals. Tighter restrictions on payment, income verification, and a sometimes hostile or uncomfortable exchange between F&I and the borrower. How can this process be easier for both and still result in a car delivered and a decent PRU? Let’s take a look at 3 ways F&I can help make this already difficult buying scenario a little easier for everyone…

Is There Still Value in Print Advertising?

We’re well into the 21st century at this point, leading many to believe it’s time to ditch traditional print advertising. In this technology-fueled era, it appears as though most consumers turn to their phones, tablets, and assorted devices to research and make purchases. Common sense, therefore, dictates that the place to invest in advertising is in the virtual spheres of email, social media, and websites. However, before jumping onto the purely digital promotional wagon, there are a few things to consider.