CHICAGO – August 22, 2018 – LotLinx, the automotive industry’s No. 1 artificial intelligence (AI) company, announced today it has named Eric Turner Vice President of Product Management as the company moves to develop new offerings to meet the growing need for auto dealers to evolve their advertising spend and strategy.

Turner comes to LotLinx with a deep understanding of the automotive industry developed while working at Ford Motor Company where he led key initiatives to grow the Lincoln brand during the past five years. His major contributions to Lincoln include leading the marketing team during the development of the company’s newest flagship SUV, the 2018 Navigator, developing and executing the go-to-market strategy for the 2017 Continental, and collaborating with dealers in the Pacific Northwest to grow sales and service market share and profitability.

As the top company in Crain’s Chicago Business “Fast 50” list, LotLinx added Turner to the team to accelerate business progress by growing the company’s portfolio of AI-based digital advertising solutions. In this role, he will lead the development and launch of new offerings including some that are currently nearing completion.

“LotLinx’s revolutionary AI-based marketing solutions directly benefit dealerships in meaningful ways,” said Turner. “My objective is to deepen LotLinx’s roots as the leading innovator in automotive digital marketing by working with our team to develop and launch world-class products. Like so many other aspects of life and business, AI is critical to the future of marketing. It is thrilling to join LotLinx’s team of talented and driven people who are already experiencing tremendous success with this new technology.”

“Our goal is to always push forward and find new and exciting ways to help dealers allocate their ad spend for the right initiatives, in turn creating a massive improvement in their ROI,” said LotLinx General Manager of Product and Technology, Lance Schafer. “Eric is the perfect person to spur innovation amongst our team and get in front of the dealers who use LotLinx AI to identify ways to continue helping them sustain success. His skills will be put to use early, as some of our newest offerings are ready to go to market very soon.”  

This fall, LotLinx will attend several industry events, including Digital Dealer 25, DrivingSales Executive Summit, Autovate, Used Car Week, Kain Automotive, Automotive Analytics and Attribution Summit. Members of the company’s leadership team will be present at many of these conferences to discuss the company’s plans for upcoming initiatives to continue to help dealers optimize media spend.

For more information, visit www.lotlinx.com.

About LotLinx

LotLinx is the automotive industry’s No. 1 artificial intelligence (AI) company dedicated to empowering automotive dealers and agencies through its Vehicle Identification Number (VIN)-Specific™ digital marketing platform. Thousands of car dealerships across North America have successfully leveraged LotLinx’s approach to delivering purchase-ready shoppers to their websites. In the past five years, the company has grown more than 67,000 percent, earning it the No. 1 spot on Crain’s Chicago Business’ 2018 Fast 50 list, along with a spot on the Auto Remarketing Power 300 for 2018. LotLinx partners with many leading brands, including Audi, GM, FCA, Ford and Mazda for Cooperative Advertising programs that reimburse up to 100% of a dealer’s marketing spend. Founded in 2012, LotLinx now works with global technology leaders and serves many of the nation’s Top 100 Auto Groups. To learn more, visit www.lotlinx.com.

Real-time text message alerts give buyers a heads up during busy sale days 

ATLANTA – Buyers know that getting the right vehicle at the right time is critical to maximizing profits in the ultra-competitive used car industry—but that can be challenging during an auction sale day where thousands of vehicles are crossing multiple auction blocks in just a few hours. With Manheim’s Lane Alerts, buyers can receive a text message in advance of a vehicle they’re interested coming up for sale, so they will never miss the opportunity to bid on a unit they need. In the six months since Lane Alerts launched, over 33,000 vehicles have sold to a client who set up a Lane Alert and received that Lane Alert message. e

“The adage, ‘you can’t be everywhere all the time’ is never truer than during a busy auction sale day when it is critical that a buyer be in the right lane to bid on the cars they need most,” said Zach Hallowell, vice president, Manheim Digital Marketplace and RMS Automotive. “Lane Alerts is another example of how Manheim is ‘meeting our clients where they want to be’ by augmenting the auction experience with technology in order to making doing business with us easier and faster."

Previously, buyers would have to spend time reviewing run lists and planning out their sale day strategy to ensure that they could bid on the right vehicles—which consumed time that they could be devoting to other parts of their businesses. With Lane Alerts, dealers can simply click to watch vehicles and be confident that they can make it to the right lane in time to bid on specific units. Lane Alerts work equally well for buyers using Simulcast or attending physical sales, by helping ensure they don’t miss an opportunity to purchase cars that they have identified as needing the most. 

Robert Christensen, president of Apple Auto Sales, Inc., said of the new feature: “The new Lane Alert is one of the best improvements I have seen in years. Until now, I have had to look at each of the presale lists for the lanes that had cars I wanted, find out how many unfilled lane spots there were and then try to calculate when my vehicles were going to be running through so I could bid on them. Now, it is so easy! I like that I get an alert on my phone when the vehicle is 10 vehicles away from entering the auction block—it is perfect for me to be prepared for bidding.”

From January 2018 when Lane Alerts launched through June 2018, nearly 60,000 clients opted in to Lane Alerts. Over 700,000 Lane Alert text messages have been sent, with over 33,000 vehicles being sold to the client who received a Lane Alert message. Vehicles with a Lane Alert set have a higher conversion rate compared to those without an alert. 

Dealers can sign up for Lane Alerts through their dealer profile at manheim.com/lanealerts or directly from vehicle details pages or search results pages on Manheim.com. They then select to receive Lane Alert notifications for the units they want to watch in an upcoming sale. A text message will be sent to their mobile device prior to the watched vehicle crossing the block. 

About Manheim (www.manheim.com)
Manheim® is North America's leading provider of end-to-end wholesale solutions that help dealer and commercial clients increase profits in their used vehicle operations. Through its physical, mobile and digital sales network, Manheim offers services for inventory management, buying and selling, floor planning, logistics, assurance and reconditioning. With its omni-channel approach, Manheim Marketplace enables wholesale vehicle clients more efficient ways to connect and transact business how and when they want. Approximately 18,000 team members help Manheim offer 8 million used vehicles annually, facilitating transactions representing nearly $58 billion in value. Headquartered in Atlanta, Manheim North America is a Cox Automotive™ brand. For more information, visit http://press.manheim.com.

·73 new franchise dealer customers signed in the first half of 2018, fueling 65 percent increase in device shipments versus 1H 2017

·36 percent increase in revenues from trailer segment as Company exceeds 200,000 trailer telematics subscribers

·45 percent increase in device shipments to SMB fleet market year over year

·Company achieves NPS score of 71, compared to 21.4 industry average for B2B tech firms

IRVINE, Calif., Aug. 22, 2018—Spireon, the vehicle intelligence company, experienced substantial growth in both Automotive and Transportation sectors, and achieved a number of corporate milestones in the first half of 2018. Product innovation, white-glove customer service and key industry partnerships contributed to increases in revenue, active subscriptions and customer service metrics.

“Results for the first half of 2018 show market demand remains extremely strong for our best-in-class connected vehicle solutions,” said Kevin Weiss, Spireon CEO. “Across the core markets we serve—auto dealerships, transportation companies and local fleets—a growing number of customers and partners are selecting Spireon based on the quality of our products and outstanding customer service. We have made significant investments to scale the business and those investments are paying off.”

In the franchise auto dealer segment, Spireon increased Kahu device shipments by 65 percent and boosted revenues by 38 percent during the first six months of 2018, compared to the same period in 2017. Kahu continues to attract large dealer groups for its ability to improve sales effectiveness, operational efficiency, risk management and customer service scores. In Q1 2018, the company showcased unique capabilities of Kahu, such as advanced analytics for test drives and aging inventory, car-sharing with Drive On Demand, and consumer mobile app features designed to grow service retention and add-on revenue. The significant, rapid business impact of Kahu to dealerships has gained 73 new dealer customers for Spireon in the first half of 2018.

Kahu generates meaningful profit for dealers while delivering compelling consumer benefits including Stolen Vehicle Recovery and connected car features. In 1H 2018, consumers used the Kahu app on average 11 times per month to locate their vehicle as well as set geofence and speed alerts. The Kahu app has maintained ratings of 4.6 out of 5, or higher, on both Apple and Google app stores, illustrating the high value of Kahu to car buyers.

The company continues to innovate and grow market share in the subprime sector as well, with device shipments to Buy Here Pay Here (BHPH) dealers growing 4 percent year over year. In June, Spireon released Quick Locate, a new feature for its GoldStar solution that provides dealers and lenders with instant visibility to vehicle location and status. GoldStar customers remain extremely loyal, with an average customer rating of 8.9 out of 10, and 94 percent likely to recommend GoldStar, according to a TechValidate survey of BHPH dealers published in March.

A leader in the trailer management space, Spireon achieved a significant milestone surpassing 200,000 trailer telematics subscribers for its FleetLocate asset and trailer intelligence solution.  The rapid growth of Spireon’s market share in the trailer segment is due in part to continued innovations that streamline operations and increase profitability for customers. In the first half of 2018, the company introduced FL Flex, the industry’s first modular trailer tracker designed for mixed fleets. The compact, power-efficient tracker can be configured with a wide range of sensors, such as the new FleetLocate Cargo Sensor with patent-pending IntelliScan sensing technology, announced in early July.

In the first half of 2018, trailer revenues increased 36 percent versus 1H 2017, and Spireon secured or grew business with several notable enterprise customers including Transervices, Contract Leasing Corp. and Ryder System, Inc. (NYSE:R). Spireon’s fleet business in the small and mid-market segments also grew in 1H 2018, with 45 percent increase in device shipments year over year.

Partnerships with leading brands and resellers extended the reach of Spireon fleet solutions, and included:

1. GM – Spireon launched their FleetLocate Connected by OnStar solution in mid-2017, enabling customers with OnStar-equipped GM vehicles to gain instant access to the FleetLocate platform without added costs or installation time associated with aftermarket devices. In 1H 2018, the company achieved 27 percent growth in activations versus 2H 2017

2. Ford Commercial Solutions—In June, Spireon partnered with Ford Commercial Solutions for FleetLocate to access data through Ford’s Transportation Mobility Cloud. As a result, fleet operators with Ford vehicles will be able to utilize FleetLocate with no aftermarket hardware required

3. FleetLocate Resellers— In 1H 2018, Spireon experienced 53 percent growth in fleet channel revenue from its largest reseller partner, and 73 percent increase in active subscriptions year over year.  Overall, device shipments through the Company’s reseller channel have increased by 39 percent versus 1H 2017

Spireon improved its Net Promoter Score (NPS), a key measure of customer satisfaction and loyalty, to 71, far surpassing the industry average of 21.4 for business-to-business technology companies. Reinforcing the company’s commitment to outstanding service and support, Rashid Ismail joined the company in March as senior vice president of customer success.

Ongoing third-party recognition continued to underscore the excellence of Spireon’s service, support and technology. Awards won in the first half of 2018 include:

·Stevie® Awards for Sales & Customer Service—Silver Award for Customer Service Department of the Year in the 2018

·Compass Intelligence Awards—IoT Vehicle Telematics Company of the Year in 2018

·American Business Awards—Silver Award for Spireon’s NSpire version 3.0 IoT platform in the New Product of the Year category

“The Spireon team continues to raise the bar on achieving key business metrics—whether that is devices shipped, revenue, new customers or NPS scores—which is not an easy feat when looking at the company’s substantial transformation in recent years,” added Weiss. “Our unrivaled commitment to customer service, aggressive technology roadmaps and thriving partnerships have set us up for a strong finish to 2018.”

About Spireon

Spireon, Inc. is North America’s leading connected vehicle intelligence company, providing businesses and consumers with powerful insights to track, manage and protect their most valuable mobile assets. The award-winning Spireon NSpire platform supports nearly 4 million active subscribers across the company’s growing suite of products for new and used car dealers, lenders and financial institutions, rental car agencies, commercial and local fleet operators, and consumers. Learn more at www.spireon.com.  

Company Celebrates Opening of New 125,000-Square-Foot Office to Accommodate Continued Rapid Growth

LEHI, Utah (August 15, 2018) – Inc. magazine today revealed that Podium, the leading customer communication platform for local businesses, is No. 13 on its 37th annual Inc. 5000, the most prestigious ranking of the nation’s fastest-growing private companies. With a three-year revenue growth of 13,645 percent, Podium is the highest-ranking Utah-based company to make this year’s list. To accommodate the company’s continued rapid growth, the company also celebrated the official opening of its new 125,000-square-foot office with a ribbon-cutting ceremony today in Lehi, Utah.

"This ranking is a testament to the Podium team and what we as a company have been able to do in just four short years," said Eric Rea, CEO and co-founder of Podium. "Addressing a segment of businesses that was being left behind by other service providers, our continued growth and future expansion shows how the demand for heightened convenience is finally being met with our platform for thousands of businesses across the country.”

Founded in 2014 and now working with 20,000+ businesses to create over 4 million customer interactions a month, Podium has quickly become one of the fastest-growing SaaS companies in the U.S. The company’s new office will house its current 350 employees with plans to hire 400 more through 2020.

Reflecting the active and eclectic culture of the millennial worker, the new space was designed by Cory Sistrunk, who has designed offices for the likes of Apple, Adobe, Nike, GE, Dropbox, Google and North Face. Features of the office include:

● A 2,000-square-foot gym, complete with CrossFit equipment, free weights, treadmills, stationary bikes and space for yoga and pilates classes along with a locker room. This also includes onstaff CrossFit, pilates and yoga instructors.

● A high-end soft serve and Dole Whip station at the reception desk.

● An outdoor regulation-sized pickleball court, multiple spikeball courts, a bike storage area and maintenance shop.

● A floor designed as a bike shop, which pays homage to Podium’s roots starting out in an attic space above a bike shop in Provo, Utah.

“If your company is on the Inc. 5000, it’s unparalleled recognition of your years of hard work and sacrifice,” says Inc. editor in chief James Ledbetter. “The lines of business may come and go, or come and stay. What doesn’t change is the way entrepreneurs create and accelerate the forces that shape our lives.”

Not only have the companies on the 2018 Inc. 5000 (which are listed online at Inc.com, with the top 500 companies featured in the September issue of Inc., available on newsstands August 15) been very competitive within their markets, but the list as a whole shows staggering growth compared with prior

lists. The 2018 Inc. 5000 achieved an astounding three-year average growth of 538.2 percent, and a median rate of 171.8 percent. The Inc. 5000’s aggregate revenue was $206.1 billion in 2017, accounting for 664,095 jobs over the past three years.

Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000.

About Podium Podium modernizes the way business happens locally with products designed to help businesses be found, chosen, and gain insight into their customers' experience. By conveniently facilitating millions of customer interactions, such as driving customer-generated online reviews and providing improved customer communication tools, Podium serves 150,000+ users across nearly 20,000 local businesses. Headquartered in Lehi, Utah, and founded in 2014, Podium is currently backed by IVP, Accel, Summit Partners, GV (formerly Google Ventures), and Y Combinator. To learn more, visit www.podium.com or contact us at press@podium.com.

More about Inc. and the Inc. 5000

Methodology The 2018 Inc. 5000 is ranked according to percentage revenue growth when comparing 2014 and 2018. To qualify, companies must have been founded and generating revenue by March 31, 2014. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2017. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2014 is $100,000; the minimum for 2017 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at http://www.inc.com/inc5000.

About Inc. Media Founded in 1979 and acquired in 2005 by Mansueto Ventures, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today’s innovative company builders. Inc. took home the National Magazine Award for General Excellence in both 2014 and 2012. The total monthly audience reach for the brand has been growing significantly, from 2,000,000 in 2010 to more than 18,000,000 today. For more information, visit www.inc.com.

The Inc. 5000 is a list of the fastest-growing private companies in the nation. Started in 1982, this prestigious list has become the hallmark of entrepreneurial success. The Inc. 5000 Conference & Awards Ceremony is an annual event that celebrates the remarkable achievements of these companies. The event also offers informative workshops, celebrated keynote speakers, and evening functions.

For more information on Inc. and the Inc. 5000 Conference, visit http://conference.inc.com/.

The automotive industry design icon and EV pioneer will serve as board member for a venture capital group focused on discovering new, agile mobility technology companies in Europe and abroad to disrupt the automotive sector

• Fisker to help guide efforts to increase collaboration between promising new suppliers, SMEs and OEMs to lower manufacturing costs and enable smarter scaling 
• Fisker Inc. to co-invest in motec portfolio companies in sectors ranging from smart manufacturing, AI-based process optimization to concrete autonomous driving applications 

VIENNA/BERLIN (August 13, 2018) – Global automotive design icon and renowned entrepreneur, Henrik Fisker, has joined forces with Berlin-based motec ventures in an advisory role. The entity is a collaboration between German automotive and mobility consulting firm, e&Co. AG and Venionaire Capital, one of Austria’s leading venture capital firms. In addition, Fisker Inc. will engage in co-investment opportunities that may be synergistic with the OEMs upcoming vehicle lineup, as well as the proprietary Fisker Solid-State Battery program.

• With a robust combination of industry expertise and resources for investment, motec is a driving force in discovering and cultivating new, agile and innovative technology companies that will usher in a new wave of experiences inside and outside of a vehicle. From mass electrification across the globe, EV architecture to ride sharing applications and everything in between, the project is aimed at tapping into the hotbed of engineering and tech talent in Germany, Europe and abroad.

• Fisker – famous for having designed some of the most stunning vehicles in history, from the BMW Z8, the Aston Martin DB9/V8 Vantage, the Fisker Karma to the new Fisker EMotion luxury electric sedan – will support managing directors Berthold Baurek-Karlic and Geza Brugger through regular discourse on technical and entrepreneurial issues. The group’s focus will also center on increasing collaboration between small and medium-sized enterprises, global OEMs and promising new suppliers to help drive down manufacturing costs and to enable smarter scaling. SMEs are the strong backbone of Europe’s manufacturing industries. 

Geza Brugger, co-managing director at motec ventures GmbH

“Henrik Fisker is, from my perspective, the Steve Jobs of the automotive world: a strong visionary and full-blooded entrepreneur with experience from both successful projects, as well as those that brought challenges and lessons learned. As a European living in the United States, having implemented some revolutionary projects there, we will be strongly challenged and reinforced by him. We are very much looking forward to working with Henrik and are pleased to have gained an experienced icon in the automotive and mobility industry." 

Berthold Baurek-Karlic, co-managing director at motec ventures GmbH

"This concentrated automotive know-how, together with our venture capital expertise at Venionaire Capital, form a perfect foundation for further developing the future of mobility. And, above all, it finally will allow SMEs to participate in interesting business models from the start-up scene. I look forward to an exciting and challenging time together.”

Henrik Fisker, chairman and CEO of Fisker Inc.

“I am extremely excited to join motec’s Advisory Board and support the team in finding new and untapped brainpower and technological innovation across Germany, Europe and the globe that will help transform mobility even more by creating better experiences. There is a great deal of investors in Germany, the hotbed of automotive leadership, that would like to find promising new technology suppliers without having to cross the pond to places like California – and we see a wealth of these undiscovered entities in Europe alone. In addition, this collaboration allows Fisker Inc. to invest and tap into an impressive group of portfolio companies, providing access to the most compelling next-generation mobility technologies. We believe the result will be beneficial for all shareholders – as well as the manufacturers through lower costs and a smarter way to scale.”

e&Co. AG, a founding member of motec ventures, has supported well-known players from the automotive and mobility industry in strategy, organizational and operational change issues – and has been working with Henrik Fisker on a variety of projects to date.

 To schedule interviews with Henrik Fisker or motec ventures managing directors, contactFisker@GoDRIVEN360.com.

About Henrik Fisker

Henrik Fisker is synonymous with iconic cars and leadership in premium electric vehicle development with an aura and style simply beyond compare. When luxury car and automotive design fans around the world hear his name, stunning images of the BMW Z8 sports car – with James Bond at the wheel, battling supervillains throughout the 1999 blockbuster film, The World Is Not Enough – immediately surface. Celebrated as a true iconic figure in the industry, behind some of the most emotionally appealing vehicles ever created – from that Z8, the Aston Martin DB9/V8 Vantage, VLF Force 1 to the Fisker Karma and more – Henrik is taking that famed creative genius and is channeling it into an inspiring vision of a world where automotive passion, the next generation of electric vehicle expertise, tomorrow’s technology and compelling design collide for the advancement of human mobility and comfort.

About motec ventures GmbH 

motec ventures aims to shape the future of mobility and guide European SMEs into the digitalized future – serving as an innovation accelerator and link between SMEs and start-ups. A joint project between German automotive and mobility consulting firm, e&Co. AG and Venionaire Capital, one of Austria’s leading venture capital firms, motec is discovering new, innovative technology companies – helping them scale and partnering them with players across the automotive industry. For more information, please visit www.motec.vc.

About Fisker Inc.

California-based Fisker Inc. is revolutionizing the automotive industry by developing the most emotionally desirable electric vehicles complemented with the longest range and shortest charging times on earth. As a leading force in influencing mass market electrification across the globe, the company’s scientific breakthroughs include the patent-pending Fisker Flexible Solid-State Battery – ushering in a new era in fast charging, safety, range and costs of less than $100 per kWh.

The brainchild of EV pioneer and world-leading automotive designer, Henrik Fisker, Fisker Inc.’s mission is to set a new standard of excellence and performance in the electric vehicle industry and mobility services – developing unique, high-performance electric vehicles that feature the latest in autonomous driving technology and exciting user experiences. To learn more, visit www.FiskerInc.com. 

The High-Turnover/Low-Productivity Vicious Circle

According to NADA the average salesperson’s productivity is slightly less than 10 units per month. The Rikess Group works with two of the largest volume dealerships in the country, and they need to have a minimum of 80 salespeople on staff to hit their volume targets. With customers physically shopping less than two dealerships, it would make sense that productivity per salesperson should be rising; but it isn’t! Why? It’s because of a vicious circle anchored by high turnover and low productivity:

As a circle, this sequence of events doesn’t have a specific starting or end point. Each element contributes to the others. But we must start our description somewhere:

Unappealing Work Environment

• The negotiating culture in many dealerships is a clear obstacle to hiring empathetic, “customer obsessed” salespeople.  Why would someone who likes people want a job where s/he has to manipulate and take advantage of them? Furthermore, an entire generation of Millennials raised on Amazon.com don’t understand why a dealership would employ a negotiating sales model when consumers have all the information they could possibly need.  A lack of real quality salespeople who have the right interpersonal skill sets are not being attracted to our industry.  

Wrong People

• So who is attracted to traditional dealership selling environments? Old warhorses who enjoy battling with customers and people desperate for any position until they can find a “real job.” The first group make sales difficult and time-consuming because consumers buy cars in volume from salespeople whom they like and trust; and the “sales gunslingers” aren’t that kind of people. The second group are not committed to a career in auto sales, so they don’t invest the time and energy to learn the product or nuances of the sales process. This group also extends the time it takes to sell a vehicle because they don’t have the knowledge or skills and therefore have to rely on a lot of management support.

Inadequate Training and Development

• The lack of a thorough and comprehensive on-boarding process is another productivity obstacle. When salespeople are put in front of customers before they have been thoroughly trained and immersed in the dealership’s culture they may never have the opportunity to be highly successful in selling volume. They get frustrated with their lack of productivity, including not earning enough to meet their financial needs. In many if not most, cases they quit before they can reach their full potential.

Managers Desire for Control

• In dealerships with high salesperson turnover, management tries to control as much of the sales process as possible due to the inexperience of their sales staff. This calls for mandatory “desk trips” and some form of a “liner-closer” model. This model hurts productivity as there aren’t enough managers to effectively try to “close” deals for an inadequate sales force; it just takes sales management too long to start deals over while trying to develop some form of relationship with the prospect. NOTE: In virtually every dealership there is one manager for every 2.5 sales people (this data includes GSM; SM BDC; F/I.) A very expensive model in an era of margin compression.
• When it takes easily 3 hours or more to sell a car in this kind of environment, salespeople have less opportunities to make sales as time is being wasted in the process. Also, the process can be pretty exhausting for all parties lessening the likelihood that salespeople want to start the process over with a new prospect, especially near the end of a shift.

A Disincentive for Managers to Empower/Train Salespeople

• An empowered culture where salespeople own the responsibility for true customer satisfaction and don’t have to rely on managers to “desk” or close their deals is what both customers and people-focused salespeople want.  But empowering salespeople works against sales managers wanting to maintain both their status and incomes. So there is a built-in disincentive for managers to empower and train their sales staff; the more empowered the sales force the less managers you need.
• Because they are required—and incentivized—to be deal managers, most sales managers ignore people development. So even if you have some high potential salespeople, no one is focused on developing them.

Low salesperson productivity generates at least five important costs:

• Lost sales due to a low closing ratio

• Sales management/personnel costs – you have at least one manager per 2.5 sales consultants. You pay your sales managers a premium because they have a unique skill set (negotiating) and there is a lack of supply of excellent sales managers further raising their compensation

• Less than stellar customer reviews due to the lack of value added by the dealership in the sales process
• The general overhead expenses/benefits to under-performing sales people
• The cost in time and energy of constantly needing to recruit new salespeople

The good news is there are a number of fairly straightforward ways to boost salesperson productivity:

1. Offer a minimum salary – not draw! – of $2,500 per month

2. Schedule 40-hour work weeks

3. Provide at least one month of on-boarding/training before letting new salespeople greet prospects
4. Eliminate negotiations from the sales process and empower your sales staff
5. Utilize tablet technology to further empower your sales staff
6. Have a significant portion of your sales managers’ compensation tied to salesperson productivity; this forces them to develop their sales staff
7. Change the definition of your sales manager’s role from being “deal managers” to “people developers.” This means they need to be trained to become better at coaching, leadership and training.
8. Put in a minimum sales performance standard. After the first 60 days of employment put in a minimum of 12 units per salesperson on a 60-day rolling average. If they can’t meet that threshold they are terminated.
9. Dedicate resources to accurately measuring closing ratio from all lead sources.
10. Never recruit salespeople out of need; always be recruiting!

Latest product in company's suite of social solutions connects car dealers and auto manufacturers with active shoppers on Facebook Marketplace

CHICAGO, July 31, 2018 /PRNewswire/ -- Cars.com (NYSE: CARS) today announced the launch of Social Sales Drive™, a powerful new offering that enables automotive retailers to maximize the impact of their Cars.com used car listings with seamless integration on Facebook Marketplace. Social Sales Drive builds on Cars.com's leadership in social media marketing to provide more efficient advertising, combining the comprehensive data and targeting power of Cars.com with millions of Americans looking at vehicle listings every day on Facebook Marketplace.The new solution uses proprietary artificial intelligence chatbot technology to power conversations with consumers and capitalize on off-hour shopping via Facebook Messenger. Beta testing showed more than 50 percent of car buyers on Facebook Marketplace wanted to interact after business hours.²

"Social is a must-have for automotive dealers with the increasing amount of time people spend on social media and their desire for a shopping experience that meets them where they are. The combination of powerful Cars.com advertising and targeting with the efficiency of social as a selling channel is a win-win for dealers and manufacturers," said Alex Vetter, chief executive officer of Cars.com. "Cars.com is innovating at the speed of retail and leading the way for social selling in automotive."

At a time when dealers have more options than ever to market their inventory and build their brand, Cars.com has proved to be a valuable partner. And when combined with the power of social platforms like Facebook, dealers stand to gain even more. It has been proven that Facebook is twice as efficient as paid search in directing active car shoppers to a dealership's website who engage with inventory and special deals.³

Vetter added that Cars.com's integrated social tools enable advertisers to combine valuable third-party data and technology with social media platforms to better target and connect with a new audience to sell more cars. This is becoming increasingly vital as Facebook begins curbing the use of first-party data in marketing.⁴

Key features of Social Sales Drive include:

• Seamless integration. The solution automatically uploads enrolled dealers' entire used-car inventory to Facebook Marketplace. Conversations℠, a powerful messaging platform, seamlessly integrates into dealers' websites, enabling 24/7 managed chat between dealers and car shoppers via Facebook Messenger.
• Extended business hours. More than 50 percent of Facebook Marketplace car shoppers are connecting with dealerships during off-hours between 6 p.m. and 9 a.m. With "Ana Bot," a proprietary A.I. powered chatbot and 24/7 managed-chat support, consumers receive real-time answers to their vehicle inquiries and dealers do not miss an opportunity to connect with consumers after hours to sell more cars.
• Builds dealers' social brands. Social Sales Drive is a Facebook Marketplace-integrated product in automotive that directly connects a dealer's inventory to its business page on Facebook, driving more exposure in front of active car shoppers and building the dealer's social brand.
• Massive audience reach. Cars.com receives more than 35 million visits each month and 81 percent of those shoppers plan to purchase or lease in the next six months.² Coupled with the millions of Americans looking at vehicle listings every day on Facebook Marketplace, dealers can connect with a significant audience of ready-to-buy car shoppers.

The new solution proved a runaway hit during beta testing, with full, rapid adoption in test markets that prompted a nationwide waiting list of more than 1,100 dealers.

"I've wanted to take advantage of Facebook Marketplace for some time, so when Cars.com offered to get all our inventory up and manage chats on our behalf, I was very interested," said Kevin Jamiel, a sales manager at Chuck Nicholson Mazda in Dover, Ohio who participated in the Cars.com pilot for Social Sales Drive. "The managed chat functionality does an amazing job of getting shoppers' basic information and then handing them off to us, so we don't have to sit in front of a computer answering Facebook messages all day. We sold 10 cars in the first six weeks using this product. We love it!"

Cars.com's full suite of social solutions serves automotive dealers and manufacturers in two ways:

• Social audience solutions: These products leverage Cars.com's 70 percent unique and unduplicated audience on social media platforms.² Our first-party data cannot be purchased or accessed anywhere else. Cars Social, which was launched earlier this year, spurred significant demand, selling out in major cities within hours of its launch.
• Social inventory solutions: Products such as Social Sales Drive extend the reach of dealers' inventory onto Facebook Marketplace, allowing them to influence and connect with a new audience of active car shoppers.

Cars.com is focused on building solutions to advance social selling in the auto industry and improve the car shopping experience for consumers. The company became a listing partner with Facebook in October 2017 when Cars.com made a portion of its inventory available to the social platform. The move made it easier for car shoppers on Facebook Marketplace to browse Cars.com's dealer partners' vehicles. That first limited rollout resulted in a 27 percent increase in consumer connections with Cars.com dealers within two months.⁵

Cars.com is inviting dealers to enroll in Social Sales Drive starting today: Enroll here. The product will go live, beginning August 1.

¹ Facebook Marketplace, September 2017

² Cars.com Internal Data, June 2018

³ PCG Companies, July 2018

⁴ https://www.facebook.com/business/help/298717656925097 

⁵ Cars.com internal testing Dec. 1, 2017, through Feb. 28, 2018: 27 percent represents average leads driven per dealer across the Cars.com network versus number of leads produced from Conversations Starter for Social per dealer in test markets during the same time period.

ABOUT CARS.COM

Cars.com™ is a leading two-sided digital automotive marketplace that creates meaningful connections between buyers and sellers. Launched in 1998 and headquartered in Chicago, the company empowers consumers with resources and information to make informed buying decisions and enables advertising partners with innovative digital solutions and data-driven intelligence to increase inventory turn and gain market share. A pioneer in online automotive classifieds, the company has evolved into one of the largest digital automotive platforms, connecting thousands of local dealers across the country with millions of consumers. In 2018, Cars.com acquired Dealer Inspire®, a company that builds technology that helps future-proof dealerships for changing consumer behaviors and makes the car buying process faster and easier.

Cars.com properties include DealerRater®, Dealer Inspire®, Auto.com™, PickupTrucks.com® and NewCars.com®.  For more information, visit www.Cars.com. 

SOURCE Cars.com, Inc.

Related Links

http://www.cars.com

Manheim Express Launches Nationwide:  Mobile App Offers Dealers Fast, Easy and Self-Service Way to List and Sell Inventory

Dealers in pilot program say industry-changing app will make turns quicker and improve buyer confidence

ATLANTA – Putting the power of the Manheim Marketplace™ in the palm of dealers’ hands, the seller-focused mobile app Manheim Express SM is available nationwide following its NADA 2018 debut and a successful 8-market pilot. Another 24/7 option within the Manheim Marketplace, Manheim Express is a fast, easy and self-service way for dealers to list and sell inventory right from their lots or in-lane in the world's largest wholesale marketplace.

"We are enabling the future of the wholesale remarketing industry by launching Manheim Express nationwide today," said Grace Huang, president, Cox Automotive Inventory Solutions. "During the pilot phase, we heard great feedback from dealers who experienced the immediate impact that using Manheim Express brings to their dealership. This app offers the industry's only wholesale Guaranteed First Bid SM and 360-degree imaging, which are huge benefits to dealers who need to turn inventory quickly."

As the industry and dealers continue to trend toward upstream and digital sales channels, Manheim Express allows dealers to appraise and list vehicles into the Manheim Marketplace from anywhere, anytime and in any channel. After completing a few quick steps in the Manheim Express mobile app, which is free to download on Apple and coming to Android later this fall, dealers have all of the information they need to evaluate a vehicle. They can then decide to take a Guaranteed First Bid, list the vehicle in the Manheim Marketplace, order an inspection or consign it to a Manheim operating location.

Successful Pilot Leads to Nationwide Launch

Manheim Express was piloted in eight U.S. markets in order to make dealer-driven enhancements before launching nationwide. During the pilot, Manheim Express was downloaded by over 1,600 dealers. Dealers scanned over 2,500 VINs to immediately see the vehicle’s value from Manheim Market Report, AutoCheck Snapshot vehicle history report data, and manufacturer build data (where available). Guaranteed First Bid offers were extended over 400 times. Using the app, dealers also created over 200 listings, which include 360-degree walkaround images, on OVE in the Manheim Marketplace.

When asked about Manheim Express during the pilot, Michael Dufour, sales manager – pre-owned, Weseloh Chevrolet/Kia in Carlsbad, California, said: “I think Manheim Express will impact our business. We will be able to get our vehicles up for sales faster, wholesaling them faster, which will help in relation to book values and getting the most for our vehicles.”

Dufour also said that he thought the 360-degree imaging technology will add trust and transparency to the buyer. Simplifying the listing experience, Manheim Express allows dealers to quickly walk a car and create a listing complete with the industry’s first and best-in-class, 360-degree images that can be uploaded into the Manheim Marketplace. Dealers can walk cars and create immersive, interactive 3D images using their smartphones, while also being able to apply smart tags to any damaged areas in under 3 minutes.

Manheim Express is one of several solutions that are being integrated into the Manheim Marketplace. Comprising Manheim.com and OVE as well as OEM-specific marketplaces, Manheim Marketplace is the largest and most active market in the used-vehicle industry.  

Dealers can learn more about Manheim Express by attending a free webinar on CBT Automotive Network on Wednesday, August 1 at 2 p.m. EDT.

About Manheim North America (www.manheim.com)

Manheim® is North America's leading provider of end-to-end wholesale solutions that help dealer and commercial clients increase profits in their used vehicle operations. Through its physical, mobile and digital sales network, Manheim offers services for inventory management, buying and selling, floor planning, logistics, assurance and reconditioning. With its omni-channel approach, Manheim Marketplace enables wholesale vehicle clients more efficient ways to connect and transact business how and when they want. Approximately 18,000 team members help Manheim offer 8 million used vehicles annually, facilitating transactions representing nearly $58 billion in value. Headquartered in Atlanta, Manheim North America is a Cox Automotive™ brand. For more information, visit http://press.manheim.com.

About Cox Automotive

Cox Automotive Inc. makes buying, selling and owning cars easier for everyone. The global company’s 34,000-plus team members and family of brands, including Autotrader®,

Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, RMS Automotive®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents 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. coxautoinc.com

FOR IMMEDIATE RELEASE                                       CONTACT:

July 25, 2018                                                                           Dara Hailes

Public Relations Manager

470 658 0656

dara.hailes@coxautoinc.com

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WESTLAKE, Texas-- (BUSINESS WIRE) –  July 11, 2018— RedCap Technologies, LLC (“RedCap”), a Solera Holdings, Inc. (“Solera”) company, and innovators of frictionless customer experiences that enable OEMs and dealers to provide simple, easy and convenient means for consumers to service their vehicle, has partnered with Lyft, the fastest growing rideshare company in the US, to expand its dealership-wide mobility platform.

The new offering leverages RedCap’s existing mobility platform and taps into Lyft’s Concierge API platform to deliver a smooth and convenient experience for both dealers and customers. Through this partnership, dealers can request Lyft rides for customers  who are not able to get a loaner vehicle while their vehicle is being serviced, meaning customers no longer have to sit in a waiting room or wait for a shuttle van to return to their home or office. Participating customers do not pay for the ride and do not need the Lyft app to get a ride from the dealership.

This integration continues the reinvention of customer experience and enables a seamless future for customers interacting with traditional automotive dealerships.

While convenience remains a top priority for customers in the automotive space, dealers are looking to retain a greater percentage of repair business by proactively offering services, like picking up and delivering cars for service, to effectively repair vehicles without customers having to ever leave their home or office. For customers who prefer to visit their dealership for repair, the Lyft integration allows them to minimize the amount of time spent waiting if repairs take longer than estimated, which they often do. Additionally, the experience is white labeled for the dealer, allowing their brand to align with a quick and positive customer experience.

“Time is a person’s most valuable commodity, keeping this in mind, we’ve got to deliver solutions that keep convenience as the top priority,” says David Zwick, Managing Director of RedCap. “Creating a seamless experience is a major focus for OEM’s and dealers. If we don't develop these types of convenient solutions, customers will vote with their wallet and take their business elsewhere.”

Offering this type of ideal repair experience helps dealers cater to the immediate delivery and customer service expectations of today.

“Technology has changed expectations, so we’ve changed our approach to meet and hopefully exceed those expectations,.” sSays Zwick.

“We’re excited to partner with RedCap to expand alternative transportation options for dealerships and improve the user experience,,” said Ben Sternsmith, Area Vice President of Lyft Business. “By leveraging the platform, dealerships are able to minimize wait times and friction for customers, while simultaneously improving efficiencies for their business.”

About RedCap

RedCap is a category creator of automotive retailer mobility and logistics. RedCap's platform allows OEMs and dealers to provide rich experiences to their service and sales customers and greatly improve a dealership’s overall vehicle and customer logistics operations. RedCap is a nationwide provider with tiered solutions servicing all brands. Customers, dealers and OEMs can use RedCap’s easy to use white labeled, DMS integrated software or interface with existing applications using the RedCap API.

About Solera

Founded and continuously led by inventor and entrepreneur Tony Aquila, Solera is a global leader in digital technologies that connect and secure life's most important assets: our cars, trucks, homes and identities. Today, Solera processes over 300 million digital transactions annually for approximately 235,000 partners and customers in nearly 90 countries. For more information, please visit solera.com.

About Lyft

Lyft was founded in June 2012 by Logan Green and John Zimmer to improve people’s lives with the world’s best transportation. Lyft is the fastest growing rideshare company in the U.S. and is available to 95 percent of the US population as well as in Ontario, Canada. Lyft is preferred by drivers and passengers for its safe and friendly experience, and its commitment to effecting positive change for the future of our cities.

About Lyft Business

Lyft Business offers travel, commute, event, and courtesy ride solutions that provide customers with the tools they need to reduce cost, save time, and streamline their transportation programs. We partner with thousands of organizations to create unique solutions to move their people, from employees and customers to patients and students. To learn more about Lyft Business, visit: https://www.lyft.com/business

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RedCap Media Contact

Sarah Lofdahl

BizCom Associates

318.617.0362

sarah@bizcompr.com

Lyft Media Contact

press@lyft.com