Study which polled adults across the country, showed that 52% of regular shoppers who shop both online and in-store prefer experience over price; and both men and women would be willing to pay up to 20% more for a fast, transparent and painless car purchasing experience

San Francisco, Calif. — August 13— Roadster, the leader in commerce solutions for car buying and leasing, announced the results of an in-depth study, which asked over 1000 adults across the country about their recent shopping experiences, including which industries currently provide the best shopping experiences, as well as those that are in need of modernization.

The study, conducted in partnership with Survata, found that men believe the Grocery industry (31%), followed by the Consumer Electronics industry (20%) provides the best shopping experience, whereas women pointed to the Apparel industry (40%), followed by the Grocery industry (34%) as their top two picks. However, the study also found that when it comes to those industries that offer the worst shopping experiences, there is little disagreement between men and women, with both ranking the Cable industry (22%m/18%w) and the Automotive industry (13%m/18%w) as the two worst shopping experiences, as well as the industries in most need of modernization.

To help industries better understand what makes consumers loyal shoppers, the study also examined the responses of consumers who classify themselves as regular shoppers (shop daily, twice a week and weekly,) and those who shop regularly both online and in-store.  The study found when retailers offer a great customer experience (71%), free shipping (68%), and easy returns (52%) shoppers become more loyal. Additionally, one in two shoppers stated that retailers who offer the ability to purchase online and have a consistent experience both online and in-store increase customer satisfaction and drive further loyalty.

For the automotive industry in particular, men and women said that dealing with one person from start to finish (21%m/20%w), along with transparent pricing (22%m/20%w) and having the inventory they are looking for (16%m/18%w) will help make it a better shopping experience.  In fact, shoppers are so enthused by the idea of having a positive car buying experience, that 52% of respondents ranked a positive experience as being even more important to them than price. And, 85% of men and 81% of women furthered they would pay up to 10% more to ensure a fast, transparent and painless car purchasing experience, while 19% of women and 15% of men stated they would be willing to pay 20% more to ensure a positive customer experience.

“At Roadster, we’ve always put a premium on creating car buying and selling solutions that deliver a great customer experience,” said Andy Moss, CEO of Roadster. “And it’s clear from the results of our study that car shoppers are not only ready for it, but are willing to even pay more to ensure it. We are proud to be at the forefront of change in the industry and to be deploying solutions that will finally make car shopping as easy and as positive as shopping for anything else.”

The study also asked consumers who had purchased or leased a car in the past year if anything went wrong during their last car buying experience. Respondents shared a number of issues, including: a feeling of being upsold on services and products that they did not want (29%), that the process was inefficient and took too much time (28%) and that there was a lack of transparent pricing available (24%). Yet, with third party studies* showing when consumers are educated about F&I products prior to entering the dealership they are more likely to buy, it is clear there are immediate steps dealers can take to improve the experience. And, despite these grievances, 87% of respondents in Roadster’s study stated that they had a positive car shopping experience.

Yet, with NPS scores for Automotive Retail on a decline since 2016 (current NPS of 39 vs. 48 in 2016), the study clearly shows how much the industry is impacted by the perceived modernization of other industries. It also pinpoints the importance of cultivating a positive customer experience and how a lack of it as compared to other industries has driven customer satisfaction for the industry down overtime. For more information on Roadster’s shopper insights, please visit: www.Roadster.com

*Cox 2017 Car Buyer Journey

**Survey examined findings from all 1012 respondents; results were also segmented by consumers who classify themselves as regular shoppers (shop daily, twice a week and weekly,) and those who shop regularly both online and in-store.

About Roadster

Founded in 2013, Roadster is the leading provider of Omnichannel Commerce solutions for today’s modern dealership. The company’s Express Storefront has quickly emerged as the most comprehensive and consumer-driven platform for digitizing dealerships' sales processes. It’s complete with everything dealers need — inventory merchandising, reservations, financing, penciling, trade-ins and service plans — to enable seamless car buying at home, in-store and on the go. Roadster’s tools empower sales teams to create near penny-perfect deals in a beautifully designed interface, whether on an iPad, kiosk or desktop. As a result, dealerships that work with Roadster regularly increase their CSI scores, while significantly reducing sales costs. Roadster currently supports more than 600 of the most progressive and well-known dealerships, dealer groups and OEMs in the industry. For more information on how your dealership can partner with Roadster, please visit https://roadster.com.

Patent-pending tool primed to transform used car market providing first ever mobile high-resolution undercarriage imaging 

BUFFALO, N.Y. – ACV Auctions, the leading dealer-to-dealer, online wholesale automotive marketplace, announces the launch of Virtual Lift™, the industry’s first mobile vehicle undercarriage imaging tool. Developers at ACV Auctions have created a portable system capable of producing high-resolution undercarriage reconstructions, providing unprecedented insight into vehicle condition. The lightweight, low profile device utilizes ACV’s proprietary mobile hardware and software technology to provide a full bumper-to-bumper view and image of the vehicle’s undercarriage in less than one minute.   

Virtual Lift™ elevates the level of trust and transparency in the ACV Auctions online marketplace by providing a never-before-seen look into a vehicle’s undercarriage. The inability to access a vehicles’ undercarriage is an element of buying risk the Virtual Lift™ can overcome. 

“Virtual Lift™ is just one more way for ACV Auctions to solidify the business as the most trusted and transparent marketplace for dealers to buy and sell their wholesale inventory,” said CEO George Chamoun. “Our teammates thrive on providing new technology solutions to solve challenges for buyers and sellers, and we couldn’t be more excited to share Virtual Lift™ with our dealer partners. We sound like a broken record, with our relentless focus on being the most trusted way a dealer buys a used vehicle. AMP™ and Virtual Lift™ demonstrate our commitment, and we are just getting started.”  

Sophisticated technology facilitates a fast, simple process for ACV Auctions Vehicle Condition Inspectors (VCI) as they create a Condition Report for each vehicle before it is listed on the app. The Virtual Lift™ is a portable, drive-over solution utilizing mobile device technology that can be operated by a single inspector. Less than a minute later, the ACV app creates a detailed image of the undercarriage that can be uploaded as part of the Condition Report available to all buyers. 

Cofounder and Chief Technology Officer, Dan Magnuszewski commented, “Virtual Lift™ is exciting because we are solving a big problem for the auto industry with a truly unique and innovative technology solution. I’m so proud of our team; we were able to invent a scalable solution to image the undercarriage without cumbersome lifts or expensive infrastructure.” 

The new tool will begin rollout nationwide to ACV Auctions VCIs starting in August, with customers beginning to see in-app photos as part of condition reports in October. 

 

In December 2018, ACV announced it secured $93 million in Series D funding that enabled the company to continue its explosive nationwide growth. The new funding also enabled ACV to double down on product and engineering to expand the breadth of its platform and analytics to dealers. 

As margins compress from new vehicle sales, many dealers are evaluating their used car businesses to make up for the losses. ACV helps dealers eliminate the risks involved in selling and buying used vehicles from traditional sources. Extensive condition reports are key to ACV's success, providing buyers with transparent information to make informed decisions about vehicles they are interested in purchasing regardless of their distance from the seller. ACV's process enables dealers to access a national buyer pool and reduces the risk of arbitration, providing quicker inventory turnover and eliminating surprises.

About ACV Auctions

ACV Auctions is an online, wholesale vehicle marketplace that provides franchise and used-car dealerships a more effective and transparent way of buying and selling wholesale vehicles through 20-minute auctions. Its technology modernizes the entire arc of auction operations, providing third-party inspections, account management, title and payment processing, managing arbitration and transportation. The company strives to be the most trusted source in the industry for dealers to buy and sell wholesale vehicles. To learn more, visit www.acvauctions.com. 

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MAX My Trade leads to higher profits, improved CSI, better close rates

CHICAGO — July 25, 2019 — MAX Digital, the dealer-first digital retail software provider for the automotive industry, has launched MAX My Trade, a guided experience that improves the trade-in process for dealership teams and customers.

Typically conducted on iPad, the customer and salesperson walk around the vehicle appraising the vehicle together. With the walkaround app, the customer and salesperson choose a mutually agreed upon rating on a 10-point scale for different aspects of the car, such as interior condition, brakes, and tires.

After the walkaround evaluation, a market-based appraisal report will provide a fair market price combining the customer’s vehicle condition rating score with top book values of third-party validation sites like Kelley Blue Book and NADA. Customer ratings naturally drive lower valuations creating a positive environment for under-allowance. The final trade offer is approved by the sales manager, so the dealership retains control.

“When you get customers involved in the appraisal process, they feel more in control, understand the fair value of their vehicle, and overall feel a lot better about the sales process,” said MAX Digital Executive Vice President, Mike Cavanaugh. “Our dealer customers who have beta-tested MAX My Trade have seen this firsthand with an average 47% increase in front-end gross profits and improved CSI.”

MAX My Trade also includes an at-a-glance profitability reporting tool, which provides dealerships a comparison of appraisals submitted both with and without the tool. Dealers can easily monitor sales, team usage and results to uncover opportunities to further grow profits.

“When we get the customer interacting in the trade, all the armor comes off. They feel very powerful that they are actually appraising the vehicle themselves,” said Brad DeSelms, Sales Director for Fremont Management Co. “The more you involve the customer in the trade-in process, the more they see the logic in how you price the car and the more money you make.”

“One of the immediate benefits is the involvement of the customer in the appraisal process. That involvement is translating into a 5% higher closing rate,” says Lee Porter, Used Car Manager at Vancouver Toyota. “The change has also reduced the time needed to complete the sales process, resulting in our CSI increasing to 96.74%.”

For more information on MAX My Trade visit https://maxdigital.com/digital-retailing/trade-in-appraisal/.

About MAX Digital

Founded in 2011, MAX Digital was born from a rich history of innovation and continues the pioneering spirit of FirstLook by delivering the professional tools needed to help dealerships thrive into the future. MAX Digital empowers thousands of dealerships to transform their retail processes to sell more cars more profitably through award-winning inventory management and people-friendly digital retail solutions. MAX Digital was named Dealers’ Choice top inventory management system for 2019 in Auto Dealer Today, for more information visit maxdigital.com.

What have we done to the VDP? 

The VDP has seen some massive changes over the years.  As technology improved, so did our ability to display our inventory.  From, “we can now add a photo” to “we need multiple photos” to “now we have video capability”, merchandising vehicles became a more complicated process. 

But have we gone too far?

A lot of dealership VDPs have too many calls to action.  Just because we can add a button doesn’t mean we should.  Today, there are more and more tools that are available to help customers shop, and the trick is to display these tools in an organized fashion that doesn’t detract from the end goal of the page.

This brings up an interesting question.  What is the goal of a vehicle details page today?  Is it built for conversion, where the customer fills out a lead form or picks up the phone?  Maybe the VDP is a place for a consumer to start their online purchase.  Or is it a research page that lets a customer get insight on what they want? 

I feel like we need to take a step back and simplify our vehicle details pages.  Carvana is getting a lot of attention today.  Look at how they display a VDP.  It’s very clean, and they cut down on the calls to action.  There is a concrete path the customer can go down without feeling like a rigid path.

Think mobile-first websites, for example.  Designing a website for a phone screen is an exercise in “trimming fat”.  Only the most necessary elements remain.  Can we apply this thinking to our inventory pages?  If so, what fat would we trim and what would we keep?

As we evaluate our online properties and prepare to transition to an omni-experience economy in automotive, it’s time to pay attention to the vehicle details page.  Digital retailing gives us a clear path today (one of the reasons Carvana’s VDP looks so clean). Customers can begin the purchase process if they choose, and if a dealership can deliver on the digital retailing promise, there is an end result of the VDP.  This may impact some of the elements we need to display, or at least affect the order in which we display them.

The VDP has been through a lot of changes, and more are to come.  We need to structure our inventory tools in a way that provides information in a clean, concise way, and help customers navigate the purchase process. 

• This recognition emphasizes the importance of diversity in the automotive industry.
• Cox Automotive is donating $5,000 to the University of Michigan, Hall’s non-profit of choice.
• A disaster response vehicle is being donated to the American Red Cross on Hall’s behalf.

ATLANTA, July 12, 2019 – Cox Automotive, in partnership with the National Association of Minority Automotive Dealers (NAMAD), awarded its Rising Star Award to Eddie Hall III, general manager at The Hall Automotive Group in Royal Oak, Michigan. Hall was chosen based on nomination criteria, including being a NAMAD member in good standing under the age of 40 who has demonstrated a substantial commitment and contribution to the automotive industry.

Keisha Duck, vice president, talent, learning and culture, Cox Automotive, presented the award at the NAMAD annual meeting awards dinner in Miami on July 11. She said: “On behalf of Cox Automotive and in partnership with NAMAD, I am honored to recognize Eddie Hall III as the 2019 Rising Star. Not only does Eddie exemplify the words ‘Rising Star’ in the context of the automotive industry, he also exemplifies a core value of Cox Automotive and the Cox family – community service. Eddie dedicates countless hours to volunteering and supporting local high school youth with outreach programs at the Ross School of Business at the University of Michigan.”

Hall started full time with The Hall Automotive Group in 2010 as an assistant finance manager, after graduating with a master’s in accounting and a bachelor’s in business administration from Ross School of Business at the University of Michigan. He worked various positions in finance and sales management before transitioning to his current role.

In addition, Hall is a minority representative on the Ford National Dealer Council, serves on the Ford Minority Dealer Association Board, is secretary of the NAMAD NextGen Board and is a founding member and chairman of the NADA NextGen 20 Group.

“It is such an honor to be selected as Cox Automotive/NAMAD Rising Star for 2019,” said Hall. “It is a proud accomplishment to be recognized in such a challenging and competitive industry. Being able to follow in my father’s footsteps and help lead the company is a dream come true.”

Cox Automotive is donating $5,000 to a non-profit in Hall’s honor. He chose the University of Michigan, which uses donations to ensure the university community remains large, diverse and at the forefront of higher education.

In addition, this year Cox Automotive will also donate a disaster response vehicle to the American Red Cross Michigan Region chapter on Hall’s behalf. Cox Automotive is a long-time partner and member of the Red Cross Disaster Response Program and has donated 11 disaster response vehicles.

The Hall Automotive Group comprises four dealerships in Michigan, Briarwood Ford and Royal Oak Ford as well as Northland Chrysler Dodge Jeep Ram and Vicksburg Chrysler,the only two African-American owned Chrysler dealerships in the state.

About Cox Automotive

Cox Automotive Inc. makes buying, selling, owning and using cars easier for everyone. The global company’s 34,000-plus team members and family of brands, including Autotrader®, Clutch Technologies, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five countries and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with revenues exceeding $20 billion. www.coxautoinc.com

LotVantage Joins MAX Digital Approved Vendor Circle

CHICAGO — July 11th, 2019 — MAX Digital, the dealer-first digital retail software provider for the automotive industry, announced a service partnership with LotVantage. Participating dealers can leverage the full range of LotVantage services, including ad placement on Craigslist, Facebook, eBay and YouTube, with any of the MAX tools for inventory management, digital retailing or showroom collaboration with MAX Syndication.

“As a dealer, your vendor networks are an important investment in growing your business,” said MAX Digital Executive Vice President, Mike Cavanaugh. “Making it easy for our dealership partners to take advantage of LotVantage services with MAX feeds that are optimized for merchandising was an obvious win.”

Competition from non-traditional dealers has never been stronger and making the path to purchase smooth is a mandatory business practice for dealerships to thrive in the coming years. MAX Digital offers the integrations and retail performance management tools to help dealerships make more profit on every vehicle transaction. LotVantage optimizes the dealer presence within key social channels to bring active car shoppers back to the dealership to buy. They focus on the value segments of marketing, so the investment is low relative to the return. LotVantage clients who are using the hands-free subscription model of Craigslist and Facebook Marketplace, have seen an average of 30 percent more lead volume from local buyers.

“The success of inventory marketing is dependent on having the right inventory at the right price to grab interest from car shoppers online,” said Jim Jabaay, President LotVantage. “Our MAX Digital clients have high potential vehicles and the detailed package information and collaborative showroom tools to sell them. That strong inventory foundation has helped our clients have success generating leads socially and closing them in the showroom. It’s been a win-win-win relationship for us, our dealers and MAX.”

More information on LotVantage is available at lotvantage.com. Vendors interested in joining the MAX Digital Approved Vendor Circle can contact info@maxdigital.com.

About MAX Digital

Founded in 2011, MAX Digital was born from a rich history of innovation and continues the pioneering spirit of FirstLook by delivering the professional tools needed to help dealerships thrive into the future. MAX Digital empowers thousands of dealerships to transform their retail processes to sell more cars more profitably through smart inventory management and people-friendly digital retail solutions. For more information visit maxdigital.com.

We recently sat down with Allen Turner of Allen Turner Hyundai to discuss his new store launch. The conversation turned to his sales process, and Allen spent some time on how his salespeople approach today's buyer.

Certification Based on J.D. Power U.S. Sales Satisfaction Index Study and Dealership Best Practices

FAIRFAX, VIRGINIA (July 8, 2019) - Demonstrating their commitment to exceeding customer expectations, three Sheehy Auto Stores dealerships – Sheehy Volkswagen and Subaru of Springfield, and Sheehy Toyota of Fredericksburg, have been certified in the J.D. Power 2019 Dealer of Excellence Program,SM which recognizes a select number of vehicle dealerships throughout the United States that provide exceptional customer service.

“This certification sets us apart, especially coming from such an authority as J.D. Power,” said Vince Sheehy, President of Sheehy Auto Stores.  “In one way or another, everyone in each dealership contributes to making our customers happy, and every member of our team shares in this achievement.”

Known for its “Voice of the Customer” research for 50 years, J.D. Power and, subsequently, its Dealer of Excellence Program help consumers identify leading retailers that will go the extra mile.

According to J.D. Power, buying a vehicle is a significant financial transaction and can be stressful because there’s so much information to digest. The Dealer of Excellence Program assists auto buyers who are looking for an exceptional dealership where they can confidently buy a vehicle. Certified dealers also benefit by leveraging the J.D. Power brand and promoting their dealership’s commitment to an outstanding customer purchase experience.

Dealer of Excellence is an exclusive program and not all dealerships can qualify. Those that do must pass a three-step process:

As the first qualification criterion, J.D. Power limits the percentage of eligible dealerships by nameplate based on each brand’s performance in the most recent J.D. Power U.S. Sales Satisfaction Index (SSI) Study.SM Thus, proportionally more dealerships from top-performing brands can become a J.D. Power Dealer of Excellence.

Second, dealerships must rank among their brand’s top performers in key customer satisfaction areas consistent with measurements found in the SSI Study.

Finally, qualifying dealers must pass an audit to show they meet or exceed J.D. Power sales best practices. Those best practices include, but are not limited to, listing vehicle inventory and pricing on the dealership website; negotiating in an efficient and transparent manner; offering a fair trade-in value; and presenting a clear and easy-to-understand menu of finance and insurance products.

Sheehy Auto Stores, Inc.

Sheehy Auto Stores is the 32nd largest dealer group in the country and serves customers in the Richmond, Baltimore, Annapolis and Washington, D.C. metropolitan areas.  A family-owned business since it was founded as one Ford store in 1966 in Marlow Heights, Md., the company has grown to more than $1.5 billion in sales with more than 40,000 new and used vehicles sold each year. The company is recognized as a leader in customer satisfaction, retention and community involvement.  For more information visit www.sheehy.com or call 703-802-3480.

We recently sat down with Allen Turner from Allen Turner Hyundai and Allen Turner Genesis to chat about his new facilities. In this clip, Allen compares the showroom to the Apple Store and how we could use the showroom to conduct hybrid "owner clinics" for current owners and potential buyers.

We sat down with Michelle Denogean, CMO of Roadster, and discussed the approach a dealership should take when implementing new process steps to improve the customer experience.

What are some of the ways you are improving the processes in your store? Do you have specific opportunities you're working to capitalize on?