Dealers lose $380K over missed service opportunities with Gen Y (Auto Remarketing)
Dealerships are losing an average $380,000 annually in service revenue as a result of missed opportunities to digitally engage with and retain millennial car buyers, according to a study released by AutoLoop on Tuesday.
As the purchasing power of this key demographic expands, modifications to digital engagement strategies will be required to increase low millennial retention rates, says the provider of auto industry marketing and customer relationship management solutions.
Google’s VP of Automotive talks about online shopping trends (CBT News)
CBT News Anchor Joe Gumm talks with Google Head of Auto Retail Peter Leto what the secret is for dealers to master what it takes to bring your dealership into the comfort of shoppers, as opposed to the outdated model of brining customers into the dealership.
Leto explains that today’s shopper have three primary factors that go into their decision-making: time, transparency, and leveraging technology.
How a VW merger with Fiat Chrysler would change the auto industry (CS Monitor)
At Volkswagen’s annual conference, the company’s chief executive, Matthias Mueller, said he is leaving the door open to a potential merger with Fiat Chrysler.
The comment, which followed VW’s annual news results conference, represented a marked change from just last week. At that time, Mr. Mueller said his company was occupied enough with its business transformation amid efforts to recover from its emissions scandal, appearing to dismiss all possibility of a union between the massive automakers.
“We are not ready for talks about anything,” Mueller told Reuters last week at the Geneva auto show. “I haven’t seen Marchionne for months,” he added, referring to the Fiat Chrysler head Sergio Marchionne.