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BLOG: Jamie LaReau
Posted 11:30 am U.S. ET, Jan. 13
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You know it is a seller’s market when the seller can dictate all the shots, and I mean all the shots.
I was speaking to a buy-sell adviser this week, who shared an unsolicited anecdote because this adviser was so awe struck by it.
The adviser asked not to be identified, but here is the story: A buyer approached the owner of two dealerships, out of the blue, with an ... Continue reading "Buyers make big bets on dealerships in a seller's world" » Feb 18, 2015 9:55 am U.S. ET Post Comment
DETROIT -- Even in good times, there are things that will keep most dealers awake at night.
At the Detroit auto show last week, I sat down with the outgoing chairman of the National Automobile Dealers Association, Forrest McConnell, and the incoming chairman, Bill Fox, to talk about what gives them restless nights.
On the surface everything seems wonderful: Many analysts ... Continue reading "What keeps leadership dealers awake at night?" » Jan 17, 2015 12:01 am U.S. ET Post Comment
DETROIT -- The outgoing National Automobile Dealers Association chairman, Forrest McConnell, and the incoming one, Bill Fox, share a passion: the Acura NSX supercar.
“It’s just spectacular,” McConnell said Monday at the Detroit auto show after Acura unveiled a production version of the NSX.
The brand’s long-awaited halo car, based on the original ... Continue reading "Top dealers dish on their show favorites" » Jan 13, 2015 11:30 am U.S. ET Post Comment
DETROIT -- I like to shop.
So when I saw some bling on the concourse in Detroit’s Cobo Center, I took a detour from my auto show duties.
Meet Shinola. For those unfamiliar with the company, it was founded in 2011 in Detroit. It has quickly become known for modern-looking, high-quality, America-made products. It makes handcrafted watches, bicycles, leather goods and ... Continue reading "The cars at the auto show are not for sale, but other stuff is" » Jan 13, 2015 9:48 am U.S. ET Post Comment
Pop culture can have a powerful impact on social perceptions.
In which case, the TV show “Modern Family” on ABC polished the tarnished image of the modern car dealership in Wednesday night’s episode.
That episode also proved the show’s product placement deal with Toyota Motor Sales U.S.A. is alive and well.
In the episode, Phil Dunphy ... Continue reading "Toyota, dealers get pop culture boost on 'Modern Family'" » Dec 11, 2014 4:23 pm U.S. ET Post Comment
It seems women are keen to work in the finance and insurance department.
In fact, F&I has the highest percentage of women employees in a dealership, after the office/administration department.
Women make up 92 percent of the office/administration staff at dealerships, according to the National Automobile Dealers Association’s 2014 Dealership Workforce Study Ind ... Continue reading "F&I jobs hold a powerful lure for women" » Dec 10, 2014 11:00 am U.S. ET Post Comment
I’m remodeling my kitchen, and I can’t help but notice how buying a countertop is like buying a car.
Both are expensive and time-consuming purchases. And ultimately, my satisfaction will not rest on a granite, quartz or laminate countertop. It will come from other fuzzy, nontangible factors such as my rapport with the salesperson, the service I get from the in ... Continue reading "Great product isn't the only ingredient for making happy customers" » Nov 14, 2014 3:48 pm U.S. ET Post Comment
You’re rich, hot, single and on the prowl -- in a Lincoln.
That’s right: A Lincoln, baby!
Apparently, sleek product redesign and TV spots featuring handsome movie star Matthew McConaughey are resonating among some wealthy singletons.
LUXY, a new dating app, has compiled and ranked its 25,000 users’ top luxury auto brand preferences. It d ... Continue reading "What the rich and single drive these days" » Nov 9, 2014 12:01 am U.S. ET Post Comment
Some Volvo dealers are expecting the brand’s image to blossom this spring with the arrival of its redesigned flagship crossover.
And they can’t wait to see what image emerges.
The 2016 XC90 goes on sale in the U.S. in April. Volvo’s U.S. dealerships will get about a third of the 80,000 XC90s built annually when production is running at full capacity.
M ... Continue reading "Why the XC90 can't come soon enough for Volvo dealers" » Oct 28, 2014 12:24 pm U.S. ET Post Comment
Who knew that demographics could be so funny?
Jason Dorsey led a room of 100 or so car dealers through a keynote address on Generation Y during Automotive News’ Best Dealerships To Work For event last week in Chicago. It was a mixture of detailed demographics, data-driven insights -- and stand-up comedy.
It was so dynamic and thought-provoking that it has stuck wit ... Continue reading "Gen Y guru entertains, informs" » Oct 21, 2014 4:23 pm U.S. ET Post Comment
Martens Volvo-Volkswagen were the first car dealerships in Washington, D.C. – and the last.
The stores have been sold, and Martens Volvo is now Euro Motorcars Volvo of Bethesda. It moved to Chevy Chase, Md., on Sept. 1.
Its counterpart, now called Ourisman Volkswagen of Bethesda, is still in D.C. But not for long. It also will relocate to a Maryland suburb soon, le ... Continue reading "How to drive dealers back to Washington, D.C.?" » Sep 26, 2014 2:03 pm U.S. ET Post Comment
Car dealers are sitting on a gold mine: their idle inventories.
The tool to turn that gold mine into gold is the smartphone.
Increasingly, people are using their smartphones to solve their transportation needs rather than relying on traditional personal car ownership.
Ride-summoning services such as Uber and Lyft are slowly replacing the need for taxis in some maj ...