Notifications & Messages

Jared Hamilton
From: Jared Hamilton
Hey - It’s time to join the thousands of other dealer professionals on DrivingSales. Create an account so you can get full access to the articles, discussions and people that are shaping the future of the automotive industry.
×
Industry Press Releases

Industry Press Releases Industry Press Releases

Exclusive Blog Posts

Your Car Repair Shop Should Appeal To Parents Whether It is At a Dealership or Privately Owned

Your Car Repair Shop Should Appeal To Parents Whether It is At a Dealership or Privately Owned

Running an auto repair means that you have to take care of all kinds of details including scheduling, discipline, and customer service. Giving a customer t…

6 more reasons why we MUST move Techs to $40 to $50 an hour soon

6 more reasons why we MUST move Techs to $40 to $50 an hour soon

If you have followed my published articles in the past about retaining Techs (based on being a former dealership Fixed Ops Manager and my 17 years of r…

Auto/Mate Names Patrick Reilly as New Head of Marketing

Auto/Mate Names Patrick Reilly as New Head of Marketing

ALBANY, NY, UNITED STATES, December 5, 2016 /EINPresswire.com/ -- Auto/Mate Dealership Systems announced today that Patrick Reilly has joined its team …

Anyone can be a Bi-Lingual Salesman now

Anyone can be a Bi-Lingual Salesman now

I came across an article today on a piece of new technology developed by Waverly Labs.  It is an earpiece that translates between languages.  My …

Tips For Your Car Dealership Website

Tips For Your Car Dealership Website

The days of only advertising in the phone book for your car dealership are over. Having an online presence is now more important than ever before. The firs…

Import-Brand Dealerships Selling More Accessories as Vehicle Inventory Drops

June AOA Accessories Trend Report shows auto dealers most impacted by tsunami generating 30% more accessories revenue, than in each of previous five months. 

San Francisco, CA, July 12, 2011

izmocars (http://www.izmocars.com) today released its June 2011 AOA Accessories Trend Report(1), which studied accessories sales data of dealerships whose inventory was the most severely impacted by the tsunami. The report reveals significant increases in accessories revenue for June, versus each of the previous five months, for these import-brand dealerships. This is particularly striking in a month that saw auto sales slow to their weakest pace in a year, impacted by low inventory, bad news on the economic front and post-Memorial Day sales slowdowns.

The AOA report studied over 150 Honda, Toyota, Lexus and Acura dealerships across the country and found that for the month of June – when vehicle sales for Honda and Toyota dropped by 21%(2) - these dealerships ramped up accessories revenue by over 30%, from an average of $400 per vehicle sold in the preceding five months, to over $525.

Accessories closing ratios also were on the rise at these dealerships, increasing from 50% to 58%, while the average number of parts sold per customer also rose by almost 22% -- from 1.8 to 2.2.

"While there is not a direct correlation between low inventory and increased accessories revenue, this report clearly indicates that dealerships are rising to the challenges of stifled inventory and compensating for lost revenue with new strategies, such as accessories sales which, we believe, are positioned to be a chief driver of increased profits by-car-sold in the months and years to come," said izmocars Vice President Sidney Haider. "Our AOA data over the past year shows that the ROI from accessories sales done the right way is undeniable. The results of this study underscore the importance - and benefits - of having an accessories sales strategy, not only in this economic climate, but also as vehicle stocks return and pent-up consumer demand for vehicles is released."

Top Five Accessories Categories by Volume and Revenue

June's top selling and revenue-generating accessories for the Japanese import-brand dealerships in the study showed some variation from the Top 5 of the overall market in Q1(3). Electronics and Body Side Moldings show up in the Top 5 by volume sold for these import-brands replacing Roof Racks/Cargo Carriers and Factory Interior which were in the Top 5s in Q1 among all brands. The only variance in the Top 5 revenue generators for these import-brands is the elimination of Body Side Moldings and the addition of Navigation, a high profit item and critical add on for summer road trippers.

Top 5 Accessories Categories (By Volume Sold and Revenue)
Jan – May 2011 vs. June 2011

By Volume of Parts Sold, June 2011 (Japanese-Import)
1. Floor Mats
2. Factory Exterior
3. Body Side Moldings
4. Electronics
5. Window Tint

By Volume of Parts Sold, Jan - May 2011 (All Dealers)
1. Factory Exterior
2. Window Tint
3. Floor Mats
4. Factory Interior
5. Roof Racks and Cargo Carriers

By Revenue, June 2011 (Japanese-Import)
1. Wheels/Tires
2. Upholstery
3. Electronics
4. Step Bars
5. Navigation

By Revenue, Jan - May 2011 (All Dealers)
1. Upholstery
2. Wheels
3. Step Bars
4. Electronics
5. Body Side Moldings

(1) All dealerships in the report sampling utilized AddOnAuto from izmocars.
http://www.izmocars.com/solutions/aoa
(2) Automotive News, Low Stocks Stifle June Sales, July 4,2011: http://www.autonews.com/apps/pbcs.dll/article?AID=/20110704/RETAIL01/307049970/1448
(3) AddOnAuto 2011 Q1 Auto Accessories Sales – A Trend Report: http://www.izmocars.com

About izmocars
izmocars is a leading provider of Automotive Business Solutions including: Website and Online Marketing Solutions, Enterprise-level Automotive CRM, iConsult - Sales Performance Coaching and AddOnAuto - an In-Store Accessories Sales Solution.

izmocars is also the world's leader in Interactive Media Content for the automotive industry. Founded in 2002, izmocars services some of the most successful eDealers in the country.

izmocars is based in San Francisco, with offices in Long Beach, CA, Chattanooga, TN, Philadelphia, PA, and Brussels in Europe.

CONTACT: mWEBB Communications for izmocars, Melanie Webber, +1-424-603-4340, melanie@mwebbcom.com, or Angela Jacobson, +1-714-454-8776, angela@mwebbcom.com

 Unlock all of the community & features  Join Now