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The June 2024 issue of the award-winning Auto Retail Network Profit. Inside you'll find lots of practical advice and useful features to help your business make more money than your competitors. Inside this issue: - How to make blogs work for your business - Success story: How Gravells Kia Bridgend keeps winning - Five strategic fixes to make your premises more secure - Six best secrets to increasing showroom footfall - How a tailored tyre policy could inflate your profits - Used cars: Fixing supply holes View or subscribe here: https://lnkd.in/exXE4aWu #AutoRetail #MarketingStrategies #AutomotiveInsights #IndustryInsights #dealership #automotiveindustry #automotive #newcars #usedcars #cardealers #oldercars #IndustryNews #Marketing #UsedCarMarket

Analysis of top 20 brands is opportunity for growth in 2025 says John Law, Executive director of insights at CitNOW Group. In the latest issue of Auto Retail Network Bulletin, John explains 2024 has provided a set of consistent aftersales performance results, with eVHC conversions remaining steady at an average of 46%. This is following a period of decline in the previous year, where it fell from 49% to 46.5% in 2022/2023. It is a positive sign for the industry as it looks forward to the new year. Breaking the 2024 data down by brand, we found that although there were some that outperformed others, when comparing H1 to H2 we saw no change in average eVHC Red work conversion (average 46%) and Red sold values (average £138) across the set of 20 brands. Of the 20 brands compared, seven improved eVHC conversion including BMW, Skoda, Hyundai, Volvo. The brands that improved eVHC Red work conversion saw a growth percentage of 6% on average, moving from 49% conversion to 52%, with the highest improving by 12%. These brands not only improved conversion but saw an uplift in average value per job, increasing the invoiced value for red work by between £5.10 and £12.48 per job. In revenue terms, for an average retailer this would generate between £20,000 and £60,000 per year in additional revenue from the uplift alone. Read the full article in the latest Auto Retail Network Bulletin – sign up here: https://lnkd.in/eeJcpM3c   #AutoRetail #MarketingStrategies #AutomotiveInsights #IndustryInsights #dealers

*** $400 Billion by 2025 *** The auto care industry is booming. According to the 2023 Cox Automotive Vehicle Service Industry Study, the U.S. is approaching pre-pandemic levels of service visits, and consumers are expected to spend more than $400 billion on auto care by 2025. Dealers continue to be the top choice for service, but the Cox Automotive Study reveals a significant change from previous years: Consumer trust in dealer service departments is on the decline. General repair/service stations, body shops, and quick lube and retail chains are creating intense competition within the industry. https://lnkd.in/gvrDqqbK

Strategic Purchasing for September and Early October Given the current trends, the next six weeks will be pivotal for used car buyers. Black Book data suggests that while wholesale prices are slightly down, specific segments such as luxury vehicles and late-model cars are still seeing strong performance. This aligns with Manheim’s MMR, which highlights an ongoing demand for these categories. To maximize profitability, focus on acquiring vehicles that have shown resilience in value. Diversifying your inventory to include both high-demand segments and value-driven options will help cater to a broad customer base. Additionally, keep a close eye on auction data and be prepared to pivot your strategy as needed—flexibility is key in this market. #premierautomotive #premierusedcars #premierhondaofneworleans #premierbuyscars #givinghope

According to the latest MOTORS Market View report, car supermarkets showcased impressive retailing efficiencies in September, averaging just 20 days in stock, significantly outperforming the market average. If your inventory isn't hitting this benchmark, you're missing out on valuable sales opportunities. We specialise in helping businesses optimise their retail processes to achieve these impressive results. If you're looking to enhance your efficiency and boost your sales, let’s connect. Contact me at Iangodbold@igcdigital.co.uk to discover how we can work together to hit that 20-day target and elevate your performance in the competitive automotive market. #CarSales #RetailEfficiency #AutomotiveIndustry #CarDealers #CarDealerships #UsedCars #StockTurn #Velocity #AutomotiveExcellenance #AutomotiveMarketing

Last month’s SMMT car registrations report segmented 49 car brands (plus ‘other British and ‘other Imports’). If we jump back just six years ago, that same list had 43 car brands. What’s changed? Aston Martin and Lotus are now grouped in ‘other British’. Infiniti and Mitsubishi called it a day and left the UK. One changed name, 10 brands are new to the list and one company didn’t exist six years ago. (check which brands in the comments) So, what do the new entrants have to offer and can they outlast the existing brands? Join us at 10h30 am on 8 October for the latest #ARNLive webinar when we discuss the new brand entrants arriving in the UK market. I’ll be joined by Victor Zhang country director OMODA UK & JAECOO UK, Andrew Pilkington, MBA deputy CEO sales & marketing, VINFAST and Ian Plummer, commercial director of Auto Trader UK to look at: - The retail strategies the new entrants are adopting - The opportunities for retailers to work with new brands Join in the conversation for an insightful 40 minutes to keep your business ahead of the market. Feel free to send comments and questions in now to Tristan Young or use #ARNLive It’s fast and free to sign up - https://lnkd.in/eHvxqSvk Get the kettle on for 10h30 next Tuesday! #AutoRetail #MarketingStrategies #AutomotiveInsights #IndustryInsights #dealership #automotiveindustry #automotive #newcars #usedcars #cardealers #oldercars #IndustryNews #Marketing #UsedCarMarket Richard Aucock Guy Dunn Ros Marshall Andrew Nankervis Laura Harvey Catherine Faiers Nathan Coe Ian Godbold Mark Simms Jack Carfrae Auto Trader Insight

Four approaches to ensure customers feel really valued There is potential profit to be made in an over-looked stage of the car-buying process, says Nick Golding co-founder, AutoComms Solutions With consumers still feeling the pinch, interest rates remaining high and Chinese brands flooding the UK market, finding new ways to make additional revenue is tough. It will therefore be critical for retailers to focus on increasing value from what they already have, ensuring maximum value from every new or used car customer. One phase of the car-buying journey that is far too often overlooked as a profitable marketplace is order to delivery. Read Nick’s tips in the latest issue of Auto Retail Network Profit. #AutoRetail #MarketingStrategies #AutomotiveInsights #IndustryInsights #dealership #automotiveindustry #automotive #newcars #usedcars #cardealers #oldercars #IndustryNews #Marketing #UsedCarMarket

Our auto retailing study revealed key findings on how car shoppers prefer to communicate with dealerships and their behaviors before purchasing. View our new infographic for pertinent metrics and insights. https://lnkd.in/gB_bD2P4

This article captures my reflections and insight about the #yeargoneby Opinions Please! ETAuto Deepanshu Taumar #Auto #Retail in #2024.

Navigate the ever-evolving auto landscape with a robust understanding of consumer behaviors. View this infographic to explore key findings from our recent auto retailing study: http://transu.co/6047b73QT #TransUnion #AutomotiveSolutions #CustomerIntelligence #AutoRetailing