DrivingSales, LLC
New Mobile App Maestro Enhances Digital Retail Experience for Customers
Maestro reduces time to buy and streamlines purchase process
DEARBORN, Mich. – March. 21, 2018 – Responding to a new generation of automotive buyers who expect to transact quickly with easy-to-use digital tools, FordDirect is unveiling Maestro, a new mobile sales app for Ford and Lincoln dealers that provides a seamless “greet to deliver” sales experience, whether the customer starts the shopping process online or in the dealership.
FordDirect, focused on helping dealers create smarter interactions and connected experiences for their customers, developed Maestro to create an improved consumer buying experience with the goal to reduce vehicle shopping to delivery time to under 90 minutes.
“Maestro enables dealers to conduct their sales process in a collaborative, transparent manner through a single mobile device, streamlining the shopping experience and increasing customer satisfaction,” says Mike Jurecki, CEO, FordDirect.
Maestro is an iPad-based sales app that allows a single salesperson to handle the entire transaction from vehicle selection, trade-in valuation, credit app/financing and final contracting with minimal to no customer handoff. Engaging with the customer using a shared device creates transparency, a stronger relationship, saves time for the customer and provides the type of sales experience a customer expects and gets in other retail experiences.
Maestro also connects the online to in-store experience without missing a beat. Since the average internet shopper spends 13 hours conducting automotive research online (with 36 percent of this research on mobile devices), according to the J.D. Power 2017 U.S. New Autoshopper Study, consumers don’t want to start the process over when they arrive at the dealership. With Maestro, the salesperson can pick up the customer’s experience precisely where they left off; reducing customer time spent completing the sales process.
Maestro works hand-in-hand with Ford’s Ready.Shop.Go. online shopping platform. Consumers can begin the shopping experience in the convenience of their home, and the Maestro in-store app allows the local dealer to complete the transaction quickly and efficiently at the dealership. Unlike other mobile sales apps for dealers,
Maestro is a fully integrated digital retail experience that leverages dealer data, Ford and Lincoln vehicle and incentive data, and a customer’s online customer shopping preferences.
Dealers benefit from increased flexibility, efficiency and productivity since Maestro is highly integrated and has modular, permissions-based functionality customizable to dealer processes.
Maestro is a comprehensive fully interactive tool that helps dealers gets customers into the vehicles they want more quickly and does the following:
·Connects online to on-lot shopping, capturing vehicle of interest and vital information that creates data continuity between an online and in-person experience.
·Integrates with CRM tools and allows for appointment/customer look-up/visibility of customer shopping actions.
·Accesses and integrates VIN-specific data, photos, pricing and incentives, purchase/lease quoting, trade-in valuation and the credit application.
·Increases productivity of the sales team through shared customer sessions and a chat feature.
·Provides inventory lookup of all new, used and certified pre-owned inventory on the lot, in transit and through extended inventory trade partners.
·Obtains trade-in valuation via Kelley Blue Book®, National Auto Dealer Association or Blackbook.
·Provides side-by-side financing/payment quotes by payment or budget and pricing comparison.
·Incorporates integrated online credit app with e-contract and e-signature through FordDirect’s partnership with RouteOne.
DrivingSales, LLC
Manheim Mobile App Offers Dealers Self‑Service Way to List and Sell Inventory
Industry’s Only Wholesale Guaranteed First Bid Gets Dealers Paid in Two Business Days
ATLANTA – Committed to giving dealers greater control and options for how and when they want to do business, Manheim is launching Manheim Express SM, a mobile app for dealers. Another 24/7 option within the Manheim Marketplaceä, 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.
“Manheim Express is a whole new channel and a whole new way to do business in the Manheim Marketplace,” said Grace Huang, president, Cox Automotive Inventory Solutions. “We are bringing the power of the Manheim Marketplace to the dealer’s lot, in the palm of their hand. On top of that, we are launching the industry’s only wholesale guaranteed first bid and are integrating 3D and 360‑degree vehicle imaging technology that leapfrogs the competition.”
After completing a few quick steps in the Manheim Express mobile app, dealers will have all of the information they need to evaluate a vehicle so that they can decide to take a Guaranteed First Bid SM, list it in the Manheim Marketplace, order an inspection or consign it to a Manheim operating location.
Load Vehicle Info via VIN Scan – In the new and free Manheim Express mobile app, dealers simply scan the VIN and are immediately presented the vehicle’s value from Manheim Market Report (MMR), AutoCheck Snapshot vehicle history report data, and manufacturer build data (where available). This information provides dealers the necessary information to make smart decisions on taking vehicles in on trade.
Get a Guaranteed First Bid – Manheim Express offers the industry’s only wholesale guaranteed first bid (GFB). Driven from the industry-leading MMR, a minimum floor price is set and if the vehicle does not sell for the minimum floor price or greater after being listed in the Manheim Marketplace for 2 business days, Manheim will buy the vehicle at the GFB price. So, Guaranteed First Bid means that dealers know they can have a check in hand in two business days. Dealers can also be assured that their inventory is in the largest and most active market in the world, which experiences 58 million unique visits per year.
List to the Manheim Marketplace – Simplifying the listing experience, Manheim Express allows dealers to 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 within three minutes. Manheim is partnering with computer vision company Fyusion to enable dealers to walk cars and create immersive, interactive 3D images, while also being able to apply smart tags to any damaged areas in under 3 minutes.
“Our products are focused on creating intelligent 3D imaging,” said Radu Rusu, CEO of Fyusion. “Any dealer will be able to easily create a fully tagged interactive 3D image from their Android or iOS phone, that's viewable on any device - mobile or desktop.”
Order an Inspection – Manheim research shows that vehicles with a condition report from an independent inspector are three more times likely to sell online. From the app, dealers can order a condition report and an inspector will come right to their lot within 72 hours, making inspections easy and convenient.
Consign to Manheim Auction – If a dealer prefers to not sell the vehicle in any of the Manheim Digital Marketplaces, dealers can now send their inventory to the Manheim operating location of their choice via Manheim Express.
“Manheim Express is another example of how Manheim continues revolutionizing inventory wholesaling and how Manheim Marketplace is uniquely positioned to meet clients wherever they are – even off their lots,” said Huang.
Launching this summer, Manheim Express is one of several solutions that are being integrated into the Manheim Marketplace. Manheim Marketplace has a variety of flexible, customizable solutions that allow clients to buy and sell right off their lots. Comprising Manheim.com, OVE and now ManheimExpress.com as well as OEM-specific marketplaces, Manheim Marketplace is the largest and most active market in the world.
Manheim will showcase this all-new way to do business with Manheim Marketplace via hands-on demonstrations at NADA: https://www.coxautoinc.com/nada2018/manheim/
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 extensive physical, mobile and digital sales network, the company offers diverse solutions for inventory management, buying and selling, floor planning, logistics, assurance and reconditioning. With more channels and smarter tools, Manheim Marketplace offers the most comprehensive end-to-end solutions and services, enabling wholesale vehicle buyers and sellers faster and more efficient ways to connect and transact business how and when they want. In addition, Manheim provides industry-leading data and tools to improve client efficiencies and decision-making, while delivering a value-added customer experience.
Approximately 18,000 team members enable Manheim to offer 8 million used vehicles per year, facilitate transactions representing nearly $58 billion in value and generate annual revenues of more than $3 billion. Headquartered in Atlanta, Manheim North America is a Cox Automotive™ brand. For more information, visit http://press.manheim.com.
About Fyusion
Fyusion applies 3D computer vision and machine learning expertise to make images as intelligent as they are beautiful. Immersive, interactive photorealistic high definition 3D images are viewable on any mobile, desktop, VR or AR device - all captured using a smartphone or any other camera.
Capturing in 3D means that we give images powers beyond what’s possible with 2D photos & videos; from changing backgrounds & adding rich data tags, to visual search & damage analysis. No professional photographers or tools are needed - it’s immersive imaging at scale.
Based in San Francisco, Fyusion’s core visual technology is covered by over 50 patents and is empowering the growth of the most innovative, visual-centric businesses worldwide.
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®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across 100+ 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. coxautoinc.com
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DrivingSales, LLC
U.S. Auto Sales on the Rise for First Time in 2017
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International Nameplate Dealers Report September Sales Figures Alexandria, VA (October 4) – The American International Automobile Dealers Association (AIADA) today released September sales figures for the international nameplate auto industry. Brands sold by America's 9,600 international nameplate franchises accounted for more than half, 55.7 percent, of all new vehicles sold in the United States in September. AutoData Corp. reports that the seasonally adjusted annual rate (SAAR) for September soared to 18.57 million units – the highest since July 2015 – versus 17.72 million units a year ago and just 16.14 million units last month. Unadjusted for business days, sales of all brands were up 6.1 percent from last September, marking the first rise in month-over-month sales for the year. Sales were still down 1.8 percent year-to-date. Industrywide, 1,523,867 vehicles were sold in September compared to 1,483,330 sold in August and 1,435,693 units sold a year ago. "September's sales exceeded even some of the industry's most optimistic expectations," said AIADA President Cody Lusk. "A combination of post-hurricane vehicle replacement and excellent incentives kept dealerships busy last month. We have every reason to feel positive heading into the final quarter of 2017." International brands outperformed their domestic counterparts in September with sales up 7.6 percent from a year ago and down just 0.4 for the year-to-date. Brands like Honda (up 7.4 percent from last September), Toyota (up 16.9 percent), and Volkswagen (up 33.2 percent) lead the charge. Most sales improvements were driven by light trucks, which rose 12.4 percent as a segment from last September, while cars continued to lag, down 3.3 percent from a year ago. International auto sales in the U.S. totaled 848,906 in September, up from 822,952 vehicles in August and 828,772 vehicles in July. Asian brands occupied 46.5 percent of the September auto market, up slightly from 46.3 percent in August. Overall, Asian nameplate dealers sold 708,049 vehicles in September, a seven percent improvement from September 2016. European brands sold 140,857 vehicles in September, up from 136,128 vehicles in August and 126,157 vehicles in July. European brands held 9.2 percent of the September U.S. auto market, the same as August 2017 and up from 8.9 percent in September 2016. Overall sales for these brands were up a remarkable 10.6 percent from last September. To read AIADA's complete coverage of September's international nameplate auto sales, click here. ### About AIADA: Established in 1970, AIADA is and continues to be the only association whose sole purpose is to represent America's international nameplate automobile franchises that sell and service the following brands: Acura, Aston Martin, Audi, Bentley, BMW, Ferrari, Genesis, Honda, Hyundai, Infiniti, Jaguar, Kia, Land Rover, Lexus, Maserati, Mazda, Mercedes, MINI, Mitsubishi, Nissan, Porsche, Rolls Royce, Scion, Smart, Subaru, Toyota, Volkswagen, and Volvo. These retailers have a positive economic impact both nationally and in the local communities they serve, providing more than 500,000 American jobs. Visit AIADA online at www.aiada.org. |
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DrivingSales, LLC
Used-Car Prices Reach New Record High, According to Edmunds
Changing supply and demand leave consumers to navigate a narrowing price gap between newer and older used vehicles
SANTA MONICA, Calif. — September 6, 2017 — Car shoppers in the market for an affordable used vehicle may experience a bit of sticker shock when they head to the dealership, according to the latest Used Market Report from Edmunds. In the second quarter of 2017, the average transaction price for a used vehicle was $19,227, up 2.1 percent from Q2 of 2016 and a new second quarter record.
The price spike is hitting the lowest end of the market hardest because cars 6 years old and older are holding their value much better now than they used to. Five years ago, on average a 10-year-old used vehicle retained only 21.1 percent of its original MSRP, while in the second quarter of this year, it held 26.4 percent. Shoppers looking to buy an older used truck or SUV will be particularly squeezed – for example, five years ago a 10-year-old midsize SUV retained only 16 percent of its MSRP, while in the second quarter of this year retained value doubled to 32.5 percent.
“Vehicle sales reached historic lows during the recession, and now fewer consumers have an older trade-in when they buy a new vehicle,” said Ivan Drury, Edmunds senior manager of industry analysis. “It’s the basic law of supply and demand. People still want to buy affordable older cars, but there simply aren’t as many out there.”
At the same time, shoppers who have a bit more to spend and are looking for a newer used car may be able to find unexpected bargains. A glut of off-lease vehicles and rising incentives are putting pressure on the residual values of newer cars, causing them to depreciate more quickly. Edmunds’ analysts found that while a 1-year-old used vehicle retained 76.6 percent of its value in the second quarter of 2012, this year that amount has dropped to just 70.9 percent. Car segments have been hit the hardest: One-year-old subcompact cars are worth 15 percent less than they were five years ago, midsize cars are worth 9.5 percent less, and large cars are worth 8 percent less.
“You often hear that the value of a new car drops dramatically the moment it’s driven off the dealer’s lot, and that’s more true than ever right now,” Drury said. “The surge in popularity of leasing has led to a more disposable mentality about personal vehicles, which has taken a toll on the values of newer used cars.”
These shifts at both ends of the market are making used cars as a whole less affordable. While the pricing difference between a 1-year-old and a 10-year-old used car was 55.5 percent five years ago, today that gap has narrowed to just 44.4 percent. However, this price squeeze doesn’t seem to be deterring car shoppers. For the first time ever, more than 10 million used vehicles were sold at retail in the second quarter of this year, a 1.7 percent boost from Q2 of last year and a 7.9 percent lift from Q2 of 2012.
“The dynamics of the used market are completely different now than they were five years ago, and we don’t see this trend reversing anytime soon,” said Drury. “Leasing grew steadily until late last year, so the near-new vehicle stock will continue to grow, and it’s going to take time to replenish the supply of older used models. It’s good news for those who can afford it, but for shoppers who need to find reliable transportation on a budget, this is a challenging scenario.”
For more insights on the latest trends in the used car market, read the complete report in the Edmunds Industry Center.
About Edmunds
Edmunds is the leading car information and shopping platform, helping millions of visitors each month find their perfect car. With products such as Edmunds Your Price, Your Lease and Used+, shoppers can buy smarter with instant, upfront prices for cars and trucks currently for sale at more than 13,000 dealer franchises across the U.S. Edmunds’ in-house team of unbiased car-shopping experts provide industry-leading vehicle reviews and shopping tips, as well as welcome all car-shopping questions to the free Shopper Advice line at 1-855-782-4711, via email athelp@edmunds.com, via text at ED411 and on Twitter and Facebook. The company is regarded as one of America's best workplaces by Fortune and Great Place to Work. Edmunds is based in Santa Monica, California, and has a satellite office in downtown Detroit, Michigan.
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| Monica Favorite |
| Sr. Manager, Public Relations |
| 310.309.6319 o | 805.207.2063 m |
| 2401 Colorado Avenue, Santa Monica, CA 90404 |
3 Comments
DrivingSales, LLC
Wow! I'm actually in the market for a use car for my stepson right now, and $19K+ does seem high for an average!
Automotive Group
Tori, I wonder if they are including certified in those numbers which would help increase the median price.
DrivingSales, LLC
That's true. I would think they would include those, as well.
DrivingSales LLC
Drive Motors Raises $5.2 Million, Expands Online Checkout for Automotive Dealerships
SAN FRANCISCO (August 2, 2017) -- Drive Motors, which builds ecommerce solutions for the largest car dealerships in the country, officially announced today that it has raised $5.2 million in total funding with the completion of its seed round, led by Bullpen Capital, with participation from existing investors: Y Combinator, Khosla Ventures, Perkins Coie LLP, Emagen Entertainment Group, and others. Drive Motors transforms car-dealership websites and showrooms into ecommerce destinations, and, since completing Y Combinator’s incubator program in 2016, has grown to over 1,000 car orders per month.
"We are excited to back Drive Motors as they have captured the elusive Millennial car buyer for dealers, by selling cars the way Millennials like to buy -- online with full information -- and yet delivering twice the profit to dealers for the convenience," said Duncan Davidson, a general partner of Bullpen Capital, who will join Drive Motors' board as part of his company's investment. "It's a great example of thinking outside the bubble, and leveraging the existing value of brick- and-mortar businesses, rather than being disruptive for the sake of it.”
Since launching online checkout for car dealers in 2016, Drive Motors has surpassed 1,000 car orders per month, and $250 million in annual order volume for its dealership customers. Current customers include top-grossing dealerships from the largest dealership groups in the country, including Atlanta-based Fortune 500 company Asbury Automotive Group, which was one of Drive Motors’ first customers and has since rolled out online checkout across their entire group of stores.
“It’s always seemed odd to me that buying a new car is so incredibly complicated. It seems like something that should just work, once I’ve picked out what I want,” said Aaron Harris, partner at Y Combinator. “Drive Motors is actually making that happen for the first-time ever, and they’re doing it in a way that actually aligns the dealers and the buyers. That’s a big leap forward.”
According to a recent survey from Drive Motors, which regularly analyzes data to inform the industry about car-shopping trends, nearly half of all online orders are placed between 5pm and 10am, and nearly half are placed on mobile phones. Drive Motors has observed that car buyers prefer to visit the dealership showroom as part of their research process, but prefer to make their purchase decision after-hours, from home. The company will use its new funding to expand its dealership network, and develop more features to streamline the car-ownership experience.
"Ecommerce is rapidly becoming essential to top-grossing car dealerships, and this funding will allow Drive Motors to offer dealers of all sizes a full-stack solution that streamlines marketing, financing, contracting, servicing, and more," said Aaron Krane, CEO and founder of Drive Motors. “Frictionless ecommerce is a win-win for buyers and dealerships, alike."
About Drive Motors:
Drive Motors builds ecommerce experiences for auto dealerships. For dealerships, Drive Motors offers an online-checkout experience that integrates effortlessly into their own website and showroom, and transforms their dealership into an ecommerce destination. For buyers, Drive Motors offers a simple, end-to-end checkout experience that removes sales pressure from the showroom, and lets people buy at home in their comfort zone. For more information, visitdrivemotors.com/dealers and follow them on Twitter, Facebook, and LinkedIn.
Lisa Hagendorf
Centerpiece Public Relations
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