Blog

Carvana debuts as No. 8 on used ranking

April 22, 2019 | by DAVID MULLER | Autonews.com

Even as used-vehicle sales and revenue are on the rise, dealers are facing increased competition.

The industry's most prominent new competitor in the used-vehicle market, online startup Carvana, debuts at No. 8 on Automotive News' list of the top 100 retailers based in the U.S. ranked by used-vehicle retail sales. Carvana retailed 94,108 vehicles in 2018, more than double what it sold the year before. The company was not on the 2017 list.

Since it went public nearly two years ago, Carvana has... Read more


KBB.com Names 2019 Brand Image Award Winners

April 17th, 2019 Staff Writer | Autodealer Today Magazine

IRVINE, Calif. — Kelley Blue Book announced the winners of the 2019 Brand Image Awards, a program based on new-car buyer perception data. Automakers are recognized for creating and maintaining brand attributes that earned the “attention and enthusiasm” of more than 12,000 in-market luxury, nonluxury, and truck shoppers who used KBB.com to inform their purchase.

“Building familiarity and loyalty among car shoppers has never been more important to automakers, especially as the market is flooded with all-new and redesigned models competing for... Read more


Accessory Selling 101: Enthusiasts vs. Non-Enthusiasts

April 17, 2019 by Joe Witt | Digital Dealer

The Specialty Equipment Market Association (SEMA) published its latest market report recently. Of the many interesting findings contained within, perhaps the most exciting is that the accessory industry garnered an extraordinary $42.92 billion in retail sales last year.

One thing that didn’t change, however, is the association’s conclusion that accessory buyers are a diverse group. The report breaks “accessorizers” down into two categories: enthusiasts and non-enthusiasts. SEMA compares types of vehicles driven, population distribution, age, and more.

The... Read more


For dealer groups, used-vehicle sales to the rescue

March 27, 2019 by Daryl Lubinsky | Auto Remarketing

CARY, N.C. - In challenging times, used-vehicle sales are there to take up the slack.

At least that was the case for Group 1 Automotive in the fourth quarter and full-year 2018.

When times are good for auto dealers, used-vehicle sales also often play a prominent role, and that was the case for Asbury Automotive Group, too, as used vehicles helped that company achieve a record-breaking sales year in 2018.

For Group 1, its... Read more


3 associations reiterate fears over higher car costs, dealership job losses if auto tariffs arrive

Feb 19, 2019 by Auto Remarketing Staff | Auto Remarketing

CARY, N.C. - Dealer organizations are becoming even more roiled over what’s unfolding in Washington, D.C., regarding whether imported autos and auto parts represent a national security threat.

Even after taking into account the mitigating effects of the new United States Mexico Canada Agreement (USMCA), the National Automobile Dealers Association said tariffs on autos and auto parts under Section 232 of the Trade Expansion Act of 1962 would still be extremely detrimental to consumers and the U.S. economy and... Read more


Facebook aims to help dealers reconnect with potential customers

Jan 30, 2019 by Auto Remarketing Staff| Auto Remarketing

NEW YORK - Automotive dealers have long used Facebook’s automotive inventory ads to reconnect with people who had visited their website or app.

Now, Facebook has enhanced those ads to help dealerships reach more potential customers who have shown interest in purchasing a vehicle online.

Citing a recent Facebook IQ survey, the social media company notes that 63 percent of car buyers discover new vehicles online. With Facebook’s newly enhanced ads, dealerships can now reach more prospective... Read more


Will the Shared Economy Hurt Car Sales?

October 09, 2018 By Steven Finlay | wardsauto.com

In a WardsAuto Q&A, the CEO of PureCars talks about the effects of ride sharing, the changing role of dealers and the growing number of demanding customers.

If people can hop on an app and subsequently jump in someone else’s car for a hired lift, how does that bode for vehicle sales?

An auto-industry fear is that people won’t own cars for purposes other than to drive other people around.

Sam Mylrea, CEO of PureCars and... Read more


How to Sell Cars to Generation Z

Aug 20, 2018 By Jennifer Libin | wardsauto.com

While the newest batch of car buyers actually prefer brick-and-mortar dealerships, it expects a more engaging in-person experience.

Move over Millennials, Generation Z is here. Unlike some of their predecessors, they want to drive and own automobiles.

That doesn’t mean dealerships can get comfortable. Gen Z’s expectations for a retail experience are different from any we’ve seen before.

First, who is Gen Z? They were born between 1998 and the early 2000s. As a whole, the generation... Read more


Genesis changes its mind on retail network -- again

May 01, 2018 By Vince Bond Jr. | autonews.com

The shape-shifting Genesis brand rollout has taken another turn.

Genesis General Manager Erwin Raphael told Hyundai's dealer council last week that the opportunity to sell the brand would now be offered to all Hyundai dealers in the U.S. -- a complete shift from the brand's previous thinking.

In January, Genesis announced it would launch a separate retail network composed of about 100 stores in 48 markets, concentrated in luxury-friendly urban areas. Elite-level dealers in those markets would... Read more


Mercedes-Benz USA Moves Headquarters to Metro Atlanta

Global technology incubator to follow this summer

Congratulations to Mercedes-Benz and the city of Sandy Springs, GA on the grand opening of the new Mercedes-Benz USA headquarters. Pinnacle has completed several auto dealership brokerage deals in and around metro Atlanta, so we wanted to acknowledge this impressive new corporate campus.

After two years of construction – and at least $93 million in building costs – the new 200,000 sq. ft. Mercedes headquarters is finally complete. Reports indicate the building has a capacity to accommodate over 1,000 employees and sits on a 73-acre... Read more


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