GoPro veteran brings decades of senior level expertise in consumer products strategy, design, R&D and engineering to his role at Reviver, creators of the digital license plate

San Francisco, CA - June 20, 2017 – Reviver, creator of the rPlate™, the world’s first digital license plate, today announced that Fabrice Barbier, who served as Senior Vice President of Consumer Devices at GoPro since 2013, has been appointed Chief Operations Officer. A talented and seasoned executive, Fabrice has over 30 years of experience in technology, business strategy, product development and operations. In addition to overseeing Reviver’s operations, Fabrice will spearhead the product, design and development of Reviver’s innovative rPlate, which recently hit the road in California. 
 

“It’s thrilling to join the team responsible for a fundamental shift in automobile design and connectivity – the rPlate brings change and innovation to a part of the car that has remained the same for 125 years, and will be a key component in a global ‘connected car’ eco-system,” said Fabrice. “Because Reviver worked in close collaboration with state DMVs and lawmakers while developing the rPlate, this technology is not only a reality, but also road-ready. I’m looking forward to working closely with the team as we develop the next generations of the rPlate.”

The rPlate transforms today’s license plate into a connected car platform that digitizes the costly, often frustrating and time-consuming DMV renewal process, while providing a highly adaptable telematics platform as well as a “5th screen” for localized messaging/advertising. The rPlate has approval from state legislators in California, Texas and Florida, and preliminary approval from Arizona’s Department of Transportation Motor Vehicle Division. Prototype rPlates are already operational in California, and Reviver plans to launch the rPlate in four states by the end of 2017. 

“Fabrice’s experience heading a team whose disruptive solutions reinvented photography and camera mobility - and brought it to the masses - will be invaluable as we continue to expand rPlates capabilities,” said Neville Boston, CEO and Founder of Reviver. “We are very excited to welcome him to our team as we positively disrupt automotive connectivity.”

During Fabrice’s six years leading the consumer products group, GoPro’s revenues increased from $65M to $1.6B. Prior to his tenure at GoPro, Fabrice spent for four years as Senior Director of Technology and Product Management at Flextronics, where he developed several new product line initiatives in display, computing, components and modules for mobile industries.

In addition to the roles he’s held in the US, Fabrice has significant international experience and a strong understanding of markets and operations outside the United States.

About Reviver
San Francisco-based Reviver’s mission is to bring new and far-reaching efficiencies, revolutionary marketing, and unprecedented connectivity to the auto industry through disruptive technology. With its recently launched rPlate™, the company has completely reinvented the 125-year-old stamped metal license plate into a connected car platform that digitizes and automates the costly, often frustrating and time-consuming DMV renewal process. Approved by multiple DMVs and DOTs, the rPlate also provides telematics functionality and brings a new level of personalization to existing license plates. For more information visit www.reviver.io.

Media Contact:

Cassandra Cavanah, mWEBB Communications, cassandra@mwebbcom.com or 818-397-4630

AutoBuy Upends Traditional Auto Remarketing: Connects Dealers with Today’s Most In-Demand Used Vehicles

AutoBuy positively disrupts auto remarketing, solving dealer inventory challenges by providing pipeline of fresh, hard-to-find, high-demand used vehicles to Manheim and Adesa auctions; attracts over 100,000 pre-owned car sellers through its bricks-and-mortar locations and WEPAYTHEMAX.com website

West Palm Beach, Florida – June 15, 2017 – AutoBuy, the disruptive car-buying company focused on delivering fresh, high-quality used vehicle inventory to dealers, today announced it has served over 100,000 private car sellers and appraised over one billion dollars in inventory through its bricks and mortars locations and its WEPAYTHEMAX.com website.

AutoBuy, which provides consumers with a hassle-free and value-driven way to sell their vehicles, is on a mission to help dealers close the gap when it comes to acquiring pre-owned inventory, including the hard-to-find 2009-2012 model years. The company is a major supplier to two of the nation’s largest auction houses, Manheim and Adesa, and its uniquely high-quality inventory is available to dealerships across the country via simulcast and in-lane sales.  

“AutoBuy is the missing link in the pre-owned vehicle equation: dealers know the profitable inventory they need from the data and market research they now have at the tips of their fingers – but, until AutoBuy, this inventory has been difficult to acquire,” said Mark Maida, CEO of AutoBuy, and a 40 year veteran of the auto remarketing industry.

The company also announced that the growing number of consumers selling vehicles through AutoBuy’s six bricks-and-mortar locations and consumer-facing website, WEPAYTHEMAX.com, has increased its available inventory by over 110% since 2016. All of which is driving significant revenue growth – nearly 70% year over year – and expansion: the company plans to open four new locations in Florida in 2017.

“AutoBuy purchases inventory from consumers for the sole purpose of resale to auto dealers, either directly or at auction,” said Anthony Maida, Founder and President of AutoBuy.  “This allows us to offer rare, fresh inventory that hasn’t been seen on countless pre-owned websites and that needs little to no reconditioning – in fact, the average sale time for our vehicles is 7.5 days.”

CARite of Cocoa, Florida has been purchasing vehicles from AutoBuy since its inception, with AutoBuy vehicles representing about 40% of CARite’s inventory.  “AutoBuy has been a huge part of our success this year. Its vehicles are not only among the highest quality we sell, but they also have a ‘time-to-lot’ that is half that of any others with drastically reduced reconditioning costs,” said Owner Gabriel Peer-Drake Sr. “Plus, because they are freshly purchased from consumers, they lack the drawbacks of other used inventory which often arrives with ‘hidden problems’ or a history of being unsuccessfully marketed online.  AutoBuy vehicles are unique, diverse and unusually low mileage vehicles that I can’t buy anywhere else, allowing me to create my own fast-selling vehicle marketplace.” 

AutoBuy’s popularity with consumers is key to its successful model and it is the only company in the auto remarketing industry to have achieved a near-perfect Google review score[1]. AutoBuy streamlines the often onerous and stressful car-selling experience for private owners with its quick, easy ‘come-to-you’ mobile appraisal service (at home or office); and, because its pricing is not restricted to local market values, AutoBuy offers consumers a better price for their vehicles, versus other models like CarMax. All of which translates into a frontline-ready pipeline of pre-owned cars for dealers and auction houses.

Manheim Auto Auction in West Palm Beach works with AutoBuy in a program where Manheim focuses on reconditioning the vehicles and AutoBuy on acquiring inventory from consumers.  “AutoBuy has truly cracked one of the key auto remarketing challenges by developing a model that is completely unique in the industry and that has helped us grow our incremental sales 172% year over year,” said Robert Zakaib, General Manager of West Palm Beach Manheim Auto Auction. “The inventory we receive from AutoBuy is incredibly diverse because they have solved the most complicated part of the vehicle transaction – the trade-in. AutoBuy is able to focus on offering consumers a fair market price which, in turn, means they have a direct funnel of quality vehicles that we can offer to dealers at auction.”

ABOUT AUTOBUY

Founded in 2010, and based in West Palm Beach, Florida, AutoBuy is a bricks and clicks automotive company that is upending traditional automotive remarketing with a completely unique model that offers auto retailers and auction houses a marketplace of fresh, high-quality used vehicles, without the hassle of reconditioning. With six bricks and mortar locations across Florida and its WEPAYTHEMAX.com website, the company offers consumers a speedy, convenient, safe, and hassle-free way to sell their vehicles for the maximum market price.  The company, which has over 100 years of auto remarketing expertise on its team, has appraised over a billion dollars of used vehicle inventory and served over 100,000 private car sellers, and is the only remarketing company to achieve a near perfect Google review score with consumers.

Media Contacts:

Melanie Webber, melanie@mwebbcom.com

Cassandra Cavanah, cassandra@mwebbcom.com

PERQ’s $25,000 FATWIN Sweepstakes Incentivizes Consumers and Helps Auto Dealer’s Digital Marketing Stand Out

Annual prize awarded to Sawgrass Ford customer and Plantation, FL, resident after submitting a vehicle trade-in appraisal request

Indianapolis, IN – June 14, 2017 – PERQ, experts in online consumer engagement and behavior, today announced the winner of their annual $25,000 FATWIN Sweepstakes. Jose M. Hervis Garcia, from Plantation, Florida, was selected from over 171,000 eligible FATWIN entries. Garcia, his wife, and two sons plan to put the money toward a house.

“This is one of the best parts of my job – watching dealership customers deploy interactive website experiences that consumers are engaged in and get value from. We devised the $25K sweepstakes to incentivize the consistent provision of quality data by consumers – which translates into higher conversions for our dealership customers,” said Muhammad Yasin, Director of Marketing at PERQ. “On behalf of the PERQ team, we’re pleased to congratulate the Garcia family and wish them well as they start a new adventure in a new home.”

The drawing illustrates the effectiveness of PERQ’s FATWIN Trade Appraisal Plus solution. Garcia, who had visited multiple dealership websites, landed on the Sawgrass Ford website and was able to quickly go through the interactive Trade Appraisal Plus experience, answer a few questions, and get an estimated trade value for his vehicle. As part of the process, he entered the sweepstakes – and the rest is history. Now Garcia and family are shopping for a new home, and the dealership has a very happy customer.

 “You always see these types of sweepstakes, but you never expect it’s going to be you or your customer that is going to be the beneficiary,” said Rob Baker, Internet Sales Director at Sawgrass Ford. “It’s a delight that you can put that type of happiness into someone’s life.” Baker said the entire team at the dealership presented the oversized $25,000 FATWIN check to Garcia and his 8-year-old son.

“The money helps a lot,” said Garcia. “The kids know that this money is going to improve their lives. We are all very happy. I want to thank PERQ and Sawgrass Ford for this opportunity to find a new home.”

About PERQ

PERQ (www.perq.com), a marketing technology provider, boosts website conversions by creating and delivering interactive experiences to the right consumers at the right time. Founded in 2001, PERQ solutions today are used by more than 1,000 businesses across the United States. PERQ’s brands have been named to the Inc. “500 Fastest Growing Companies in America” list on three separate occasions, and FATWIN Web Engagement is a 2017 Gold Stevie® Award winner for lead generation software.

PERQ Media Contacts

Melanie Webber, mWEBB Communications, melanie@mwebbcom.com or 949-307-1723

Cassandra Cavanah, mWEBB Communications, Cassandra@mwebbcom.com or 818-397-4630

Rising Dealership Real Estate Prices and Private Sector Spending Offset Slight Decline in Blue Sky Values, according to The Blue Sky Report® released by Kerrigan Advisors

Kerrigan Advisors report for Q1 2017 reveals robust dealership buy/sell activity in 2017 with dealership valuations remaining high, even as auto sales slow; private buyers dominate buy/sell market as publics focus on non-US acquisitions

Irvine, CA, June 5, 2017 – Buy/Sell auto dealership activity remains robust for the first quarter of 2017, in spite of slowing auto sales and a slight dip in Blue Sky Values, all of which is offset by high dealership real estate prices, according to The Blue Sky Report®, a Kerrigan Quarterly, which today released its analysis for Q1 2017.  Outpaced by the privates in acquisition activity, publics are directing their focus to non-US acquisitions.  According to the report, macro-economic conditions, which offer opportunities for both optimism and pessimism, are contributing to a high level of activity in the buy/sell market, which is expected to continue throughout the year.

“2017’s buy/sell market is fueled by diverging viewpoints from conservative sellers and ambitious buyers – and is influenced by consistently high real estate valuations.  Those confident in the long-term health of auto retail continue to seek acquisitions and investments,” said Erin Kerrigan, Managing Director of Kerrigan Advisors. “By contrast, the pessimists, and those who are generationally ready to go out on a high note, are increasingly choosing to exit the market, selling their dealerships at today’s high prices and avoiding a potential downturn. All of which contributes to a very active and robust buy/sell market.”

The report from Kerrigan Advisors is the auto industry's most comprehensive and authoritative quarterly report and analysis of dealership mergers and acquisition activity and franchise values.  Laying out the high, average and low multiples for each franchise in the luxury and non-luxury segments for the quarter, the report offers a detailed view of public and private company dealership acquisition activity.   Key findings from the Q1 2017 report include:

• Dealership real estate prices and rents rose considerably on a quarter over quarter basis. Real estate, for most dealers, is their highest value asset, far exceeding franchise value.
• Transaction activity increased slightly in the first quarter of 2017, exceeding 2015 and 2016’s high pace with 60 dealership buy/sell transactions completed in the quarter. *
• 2017 is tracking towards 240 transactions for the year.
• The number of multi-dealership transactions declined from 19 to 11.* Kerrigan Advisors expects the pace of multi-dealership transactions to increase considerably as the year progresses.
• Public retailers’ acquisition spending decreased 12%. Since January, The Kerrigan Index™, which includes the seven public auto retailers, is down 9.6% to 492, underperforming the S&P 500.
• The private sector acquired 93% of the franchises sold in the first quarter of 2017.
• Domestics continued to grow their share of the buy/sell market - a trend driven by the growing market share of trucks and SUVs.
• Import luxury franchises’ share of the buy/sell market decline by 45%

The report also identifies the following three market trends, which Kerrigan Advisors expects to affect the buy/sell market in 2017 and beyond.

   Dealership profit plateau shifts buyer’s focus to current earnings

   OEMs’ buy/sell approval processes differ significantly

   Multiple arbitrage for dealership business lines continues

“Overall, we continue to expect 2017 to be a very active year for buy/sells with private buyers, new entrants and certain public buyers eager to put their capital to work. An increasing number of sellers are coming to market motivated by current prices and a strong desire to capitalize on today’s buy/sell activity,” concluded Kerrigan.

The Blue Sky Report®, a Kerrigan Quarterly, is published four times a year and includes Kerrigan Advisors’ signature blue sky charts, multiples and analysis for each franchise in the luxury and non-luxury segments. The multiples are based on Kerrigan Advisors’ view of franchise values in the current buy/sell market and can be applied to adjusted pre-tax dealership earnings to estimate blue sky value. To download the report, click here.

Kerrigan Advisors also releases a monthly index, The Kerrigan Auto Retail Index, composed of the seven publicly traded auto retail companies with operations focused on the US market.  The Kerrigan Index™ is designed to track dealership valuation trends, while also providing key insights into factors influencing auto retail. To access The Kerrigan Index™, click here.

Erin Kerrigan is Founder and Managing Director of Kerrigan Advisors, and is a recognized industry expert on dealership valuation, real estate and buy/sells. A sought-after commentator on automotive retailing topics ranging from consumer auto buying trends to auto retail consolidation to private equity in auto retail, she has keynoted numerous automotive conferences and her analysis has appeared in publications such as Automotive News and the Wall Street Journal. For a video reel of Erin’s commentary on the market, click here.

About Kerrigan Advisors

Kerrigan Advisors is a national dealership buy/sell advisory firm focused on providing a high level of client service for dealership sellers. Led by a team of veteran advisors who have represented transactions totaling over $2.5 billion in automotive, private equity and investment banking, Kerrigan Advisors customizes each sale process to maximize the seller’s transaction proceeds. With the most comprehensive buyer database in the industry, Kerrigan Advisors has the industry context and expertise to match each seller with the right buyer.

In addition to the monthly Kerrigan Auto Retail Index, each quarter, Kerrigan Advisors publishes The Blue Sky Report®, a Kerrigan Quarterly, which is the auto industry's most comprehensive and authoritative quarterly report and analysis of dealership buy/sell activity and franchise values.  Kerrigan Advisors’ Managing Director Erin Kerrigan is a recognized industry expert on dealership valuation, real estate and buy/sells, and is a frequent speaker at leading auto retail events and conferences, including NADA, JD Power Automotive Roundtable, AICPA, NADC and Driving Sales’ President’s Club. She has also been a keynote speaker for events hosted by American Honda Motor Company, Audi of America, US Trust, Ohio Automobile Dealer Association, and SunTrust Bank and has led webinars for NADA and Automotive News.  Her expertise is also featured in a monthly column for Dealer Magazine. 

Kerrigan Advisors Media Contact:
Melanie Webber (melanie@mwebbcom.com), mWEBB Communications, 424.603.4340

*The Banks Report/Kerrigan Advisors analysis

Addition of Kelley Blue Book’s trusted valuation data to FATWIN Web Engagement platform further increases engagement on trade-in tool

Indianapolis, IN – May 24, 2017 - PERQ, specialists in personalized, interactive web engagement technology, today announced that it has added Kelley Blue Book, one of the most trusted names in the auto industry, to its list of data providers. The addition has increased the number of trade-in leads generated by PERQ’s FATWIN Web Engagement platform for its dealer customers by as much as 300%.

The integration of Kelley Blue Book’s trusted data with FATWIN offers online visitors increased confidence in the valuations of their used vehicles and a better online experience, which translates into higher conversion. Today, there are more than 300 dealership websites utilizing PERQ’s FATWIN Web Engagement solution.

“We’re excited to work with PERQ and further extend our market-reflective Blue Book Values,” said Damon Bennett, senior director of syndication for Kelley Blue Book. “Given that determining whether pricing is fair is among the biggest pain points when transacting, Kelley Blue Book is providing consumers with the confidence of how much to expect for their car.”

While traditional trade-in tools can turn consumers off with static questions, FATWIN offers a trade-in experience that is more personalized and consumer-friendly, asking a few simple questions, including how they preferred to be contacted, the type of replacement vehicle they’re interested in and how soon they’re ready to buy, before giving shoppers an estimated trade-in value based on Kelley Blue Book data. Consumers then receive a low and high range estimate before being presented with a special offer that is designed to convert the online visitor into a showroom buyer.

Initial results have shown that combining Kelley Blue Book data with FATWIN’s trade appraisal is engaging more online visitors and dealerships are, on average, experiencing a 3x increase in trade-in leads, 5x the volume of trade-in sales and a 9.2% higher average gross profit per unit sold.

“The consumer experience is of paramount importance to engaging online visitors and converting leads into dealership sales, which is why we are so pleased to be able to offer data that consumers truly trust,” said Stephanie Ragozzino, EVP of Product at PERQ. “By combining Kelley Blue Book’s valuation data with PERQ’s uniquely intuitive interactive online experience, dealerships have an even more powerful opportunity to engage more visitors via our trade-in tool and turn more of those leads into car sales.”

Auto dealers can learn more about FATWIN’s use of Kelley Blue Book’s data, here.

About PERQ

PERQ (www.perq.com), a marketing technology provider, boosts website conversions by creating and delivering interactive experiences to the right consumers at the right time. Founded in 2001, PERQ solutions today are used by more than 1,000 businesses across the United States. PERQ’s brands have been named to the Inc. “500 Fastest Growing Companies in America” list on three separate occasions, and FATWIN Web Engagement is a 2017 Gold Stevie® Award winner for lead generation software.

PERQ Media Contacts

Melanie Webber, mWEBB Communications, melanie@mwebbcom.com or 424-603-4340

Cassandra Cavanah, mWEBB Communications, Cassandra@mwebbcom.com or 818-397-4630

Pioneering auto technology leader Brian Boling returns as CEO to  lead company’s international automotive IoT strategy

Irvine, CA – May 23, 2017  - Procon Analytics, a global leader in connected car telematics, today announced the rollout of a progressive new platform that powers a new suite of connected car products and services. The highly scalable platform has been designed to connect both businesses and drivers to their vehicle assets throughout the entire ownership lifecycle – and is architected to deliver unparalleled business intelligence solutions to the global auto industry.

Procon Analytics’ leaders, Brian Boling, former CEO of Connected Holdings, and Bill Cheney, COO of Connected Holdings, developed and successfully incubated the platform for two years under Connected Holdings, an Intelligent Services Platform company established to provide IoT entrepreneurs with the finances and infrastructure to kick start their business ideas.

“I’m thrilled to be back leading Procon Analytics with Bill as the industry enters the next chapter in connected car telematics and next generation IoT solutions,” said Boling, CEO. “I look forward to working with the team to develop strategy and business intelligence solutions and services for the global auto industry – it’s an exciting homecoming for me.”  

The new suite of products and services joins Procon’s existing international connected car solutions and enables the company to deliver a more efficient, value-driven connected car and tracking process to US automotive retailers and lenders, while simultaneously innovating solution features, business intelligence, IoT and big data solutions for the global automotive industry.

Procon’s multi-national suite of products now includes:

• Procon Automotive, a dealer lifecycle management and customer retention solution platform serving new car auto dealers throughout North America.
• Elo GPS, a stolen vehicle recovery and driver monitoring mobile app sold through new car dealerships designed for consumers.
• MyCar, a mobile app allowing drivers to remotely start a vehicle from their smartphone and sold throughout North America.
• Oigo Telematics, a fleet management & vehicle recovery system supporting businesses in Latin America.

Automotive IoT is exploding – analysts forecast the connected car market will be worth nearly $155.9 billion globally in 2022[1] and that over 380 million[2] connected vehicles will be on the road as soon as 2021 (up from 36 million in 2015) – and Procon is poised to lead the way once again.

“Bringing this technology under the Procon Analytics portfolio enables us to deliver leading-edge features, applications and functionality to our customers, providing high value solutions to improve profitability. And, ultimately, our data analytics group will provide customers with business intelligence and insights based on the unique data Procon is able to mine within the connected car ecosystem,” said Bill Cheney, Procon Analytics’ CTO and Managing Director.

Boling, a trailblazer in automotive GPS, holds multiple IoT patents leveraging GPS technology. Boling’s earlier tenure at Procon, which he originally founded in 2003, saw the company deliver nearly 4 million connected automotive GPS tracking devices. A Procon spin off company, Spireon, was the first and only aftermarket automotive group in the USA to reach delivery of over 1 million devices per year. Today Spireon is the undisputed leader in risk mitigation solutions for the sub-prime industry in the USA and one of the fastest growing in transportation telematics.

A pioneer in automotive IoT, Cheney was a founder of Drive OK, one of the first companies in vehicle finance IoT. Previously, Cheney served as a senior executive in Qualcomm’s semiconductor and international investment divisions. Cheney specializes in operational processes and systems that are critical success factors to an IoT company’s ability to scale, sustain growth and deliver strong returns. His recent work in big data analytics focuses on new, exciting sources of growth and profitability.

About Procon Analytics
 

Procon Analytics, a global leader in automotive telematics, is dedicated to bringing better, more efficient, more value-driven connected car features, along with next-generation channel management processes, to US automotive retailers and lenders, while simultaneously innovating data, business intelligence and IoT solutions for the global automotive industry. Procon Analytics currently operates in the US, Canada and Latin America with a focus on creating big data solutions for the automotive industry.

For more, visit www.ProconAnalytics.com.

Cooper brings decades of auto retailing innovation to fast-growing tech company that created the first-ever digital license plate 

San Francisco, CA - April 5, 2017 – Reviver, creator of the rPlate™, the world’s first digital license plate, today announced that Allan Cooper has been appointed Chief Strategy Officer. Cooper brings over twenty-five years of automotive expertise to Reviver where he will work closely with founder and CEO Neville Boston to develop and implement the marketing, sales and business development strategies of the fast-growing tech company.

“Allan is a true automotive retailing and marketing visionary and brings invaluable insights into every aspect of the automotive business to Reviver, including strong relationships with potential partners and key stakeholders,” said Boston. “Already, he has brought new depth to our automotive bench; his contributions will be invaluable as we continue to innovate around the connected car ecosystem and extend the Reviver brand.”

Throughout his career, Cooper has played a central role in delivering disruptive, transformative retailing solutions to the automotive industry. He was honored by J.D. Power and Associates as a ‘Pioneer of Automotive Internet Retailing’ and was a founding partner of OneCommand, a company which was at the forefront of innovating targeted digital messaging solutions for automotive dealerships and manufacturers.

“Reviver and rPlate arrive at a time when the automotive industry is on the brink of another disruptive shift, driven by technologies that create new, far-reaching efficiencies and unprecedented connectivity. To be a key part of this transformation by supplying OEMs, dealer groups and commercial fleets with all those opportunities through a digital license plate – the ‘5th screen’ – is incredibly exciting,” said Cooper.

“I’ve spent the first part of 2017 working closely with Neville and the rest of the team developing our go to market strategy and am thrilled at the myriad opportunities for innovation on the road ahead,” Cooper continued.

Cooper most recently headed Cooper Media Group, a firm focused on helping automotive clients expand their footprint in the US and Australia.

About Reviver
San Francisco-based Reviver’s mission is to bring new and far-reaching efficiencies, revolutionary marketing, and unprecedented connectivity to the auto industry through disruptive technology. With its recently launched rPlate™, the company has completely reinvented the 125-year-old stamped metal license plate into a connected car platform that digitizes and automates the costly, often frustrating and time-consuming DMV renewal process. Approved by multiple DMVs and DOTs, the rPlate also provides basic telematics functionality and brings a new level of personalization to existing license plates. For more information visit www.reviver.io.

Media Contacts:

Melanie Webber, mWEBB Communications, melanie@mwebbcom.com or 949-307-1723

Cassandra Cavanah, mWEBB Communications, cassandra@mwebbcom.com or 818-397-4630

Sellers coming back into market, improved valuations, private buyer demand for large acquisitions, advantageous market fluctuations and ‘Trump Bump’ driving optimism in buy/sell market; Ford, Chevrolet, Toyota, Honda and Subaru top buyer targets

Irvine, CA, March 22, 2017 – Buy/Sell auto dealership activity is set to rebound to record levels in 2017, according to The Blue Sky Report®, a Kerrigan Quarterly, which today released its analysis for the full year 2016.  Although there was a slight decline (8%) in overall transaction activity in 2016, and rising real estate costs are set to present a challenge for buyers, an increase in serious sellers coming back into market; improved valuations; private buyer demand for large acquisitions; advantageous market fluctuations, and the Trump Bump are driving optimism for a robust 2017.

“Most dealers understand that the opportunity has passed to obtain above- market blue sky prices and, instead, are satisfied knowing that today’s valuation levels are still very high, particularly on a historic basis,” said Erin Kerrigan, Managing Director of Kerrigan Advisors.  “Buyers are finding pricing more reasonable in part because today’s sellers are serious about a sale. The market testers who were seeking “crazy” blue sky values have primarily returned to operating their businesses, discovering those unrealistic values were not attainable.” 

The report from Kerrigan Advisors is the auto industry's most comprehensive and authoritative quarterly report and analysis of dealership mergers and acquisition activity and franchise values.  Laying out the high, average and low multiples for each franchise in the luxury and non-luxury segments for the quarter, the report offers a detailed view of public and private company dealership acquisition activity.   Key findings from the report include:

• 221 dealership buy/sell transactions were completed last year, compared to 2015’s record of 241 transactions*.
• 57 multi-dealership transactions were completed last year, resulting in an 8% increase over 2015’s record*.
• Ford, Chevrolet, Toyota, Honda and Subaru are likely to be chief targets of acquisition activity.
• Domestic franchises saw their buy/sell market share increase by 42% in 2016*.
• With truck sales still on the rise, domestic buy/sells will continue to dominate the 2017 buy/sell market.
• Public auto retailers’ acquisition spending decreased 21% in 2016 compared to 2015, with Lithia and AutoNation the only publics to make acquisitions of US dealerships in 2016.
• Publics sold nearly as many dealerships as they acquired.
• The private sector acquired 89% of the franchises sold in 2016.
• The average dealership’s real estate value is estimated at $10.3 million while the average dealership’s blue sky (goodwill) value is estimated at $6.6 million.

The report also identifies the following four market trends, which Kerrigan Advisors expects to affect the buy/sell market in 2017 and beyond.

• Buyers’ return on investment parameters drive buy/sell activity
• Sellers’ pricing expectations rationalize with a plateauing market
• Buyers seek investments in higher margin auto retail business segment
• Dealers are increasingly open to equity and growth capital partners

“Overall, we expect 2017 to be a very active year for buy/sells with private and more public buyers eager to put their capital to work. We find an increasing number of sellers coming to market motivated by current prices and a strong desire to capitalize on today’s buy/sell activity,” continued Kerrigan. “As more dealers find their succession plans have run their course, we expect the number of sellers to rise given the generational shifts underway in auto retail and the ageing of the US dealer network.”

The Blue Sky Report®, a Kerrigan Quarterly, is published four times a year and includes Kerrigan Advisors’ signature blue sky charts, multiples and analysis for each franchise in the luxury and non-luxury segments. The multiples are based on Kerrigan Advisors’ view of franchise values in the current buy/sell market and can be applied to adjusted pre-tax dealership earnings to estimate blue sky value. To download the report, click here.

Kerrigan Advisors also releases a monthly index, The Kerrigan Auto Retail Index, composed of the seven publicly traded auto retail companies with operations focused on the US market.  The Kerrigan Index is designed to track dealership valuation trends, while also providing key insights into factors influencing auto retail. To access the Kerrigan Index, click here.

Erin Kerrigan (www.kerriganadvisors.com/meet-the-team-2/) is Founder and Managing Director of Kerrigan Advisors, and is a recognized industry expert on dealership valuation, real estate and buy/sells. A sought after commentator on automotive retailing topics ranging from consumer auto buying trends to auto retail consolidation to private equity in auto retail, she has keynoted numerous automotive conferences and her analysis has appeared in publications such as Automotive News and the Wall Street Journal. For a video reel of Erin’s commentary on the market, click here: youtu.be/gPrMMtRF-IU.

About Kerrigan Advisors

Kerrigan Advisors is a national dealership buy/sell advisory firm focused on providing a high level of client service for dealership sellers. Led by a team of veteran advisors who have represented transactions totaling over $2.5 billion dollars in automotive, private equity and investment banking, Kerrigan Advisors customizes each sale process to maximize the seller’s transaction proceeds. With the most comprehensive buyer database in the industry, Kerrigan Advisors has the industry context and expertise to match each seller with the right buyer.

In addition to the monthly Kerrigan Auto Retail Index, each quarter, Kerrigan Advisors publishes The Blue Sky Report®, a Kerrigan Quarterly, which is the auto industry's most comprehensive and authoritative quarterly report and analysis of dealership buy/sell activity and franchise values.  Kerrigan Advisors’ Managing Director Erin Kerrigan is a recognized industry expert on dealership valuation, real estate and buy/sells, and is a frequent speaker at leading auto retail events and conferences, including NADA, JD Power Automotive Roundtable, AICPA, NADC and Driving Sales’ President’s Club. She has also been a keynote speaker for events hosted by American Honda Motor Company, Audi of America, US Trust, Ohio Automobile Dealer Association, and SunTrust Bank and has led webinars for NADA and Automotive News.  Her expertise is also featured in a monthly column for Dealer Magazine. 

Kerrigan Advisors Media Contact:
Melanie Webber (melanie@mwebbcom.com), mWEBB Communications, 424.603.4340

*The Banks Report/Kerrigan Advisors analysis

New PERQ consumer behavior data reveals key tips to clean up websites leading to 42% increase in CTRs, 15% profit lift, and a 5-fold increase in lead data

INDIANAPOLIS, IN - MARCH 13, 2017 - Decluttering dealership websites and focusing on targeted messaging and “personalized” Calls to Action (CTA) can significantly increase click-through rates, lead data collection, and, ultimately, dealership profits, according to consumer website data(1) analyzed by PERQ. PERQ, who are experts in website conversion and consumer behavior, released the information in conjunction with the launch of their Auto Website Conversion Course, a series of online best practices tutorials that can help dealers clean up their websites and create more effective conversion paths.

“Most dealership websites are jammed with a cacophony of offers, messages and static lead forms that, more often than not, lack relevance to the visitor. It’s the equivalent of walking into a dealership and having multiple salespeople yelling offers and information at you all at once without bothering to ask what your name is, if you’re ready to buy or if you want a new or used vehicle,” says Russ Chandler, Product Marketing Manager at PERQ. “It’s no wonder the average dealership website converts less than 3% of their traffic(2).”

Most dealership websites simultaneously display a potpourri of offers and actions — from ‘get e-price’ static lead forms to incentive offers — creating a cluttered look and unfocused consumer experience. According to PERQ data, dealerships who declutter their websites by offering a streamlined and interactive experience that doesn’t treat consumers as anonymous strangers see a 42% increase in CTRs, 15% profit lift and a 5-fold increase in the amount of data collected on sales leads. These websites are not ‘bugging’ visitors with messages they have no interest in but, instead, target consumers based on their website behavior, dynamically adjusting what is pushed to them.

For example, if a consumer has already received a quote for their trade-in vehicle, it is a waste of digital real estate and consumer attention span to display more CTAs asking them to value their vehicle trade. However, this is how the majority of websites behave. A declutter strategy, on the other hand, leverages smart CTAs to automatically change the trade-in Call to Actions to test drive Call to Actions, moving this customer down the conversion funnel. This instantly streamlines the site.

“Basic declutter tactics seem obvious, yet we see websites that are stuck in the clutter rut every day,” Chandler says. “A declutter strategy also offers opportunities for your dealership to gather data that will help provide a more informed sales interaction.”

Among the declutter best practices advocated by PERQ and included in its complimentary Auto Website Conversion course are:

1. Entice visitors to seek more useful information. Offering customers something of value creates an opportunity to gather data that will help provide a more informed, streamlined sales interaction. 
2. Inventory CTAs and conversion tools to understand what works and what doesn’t. 
3. Analyze how effectively (or if!) a CTA is converting. If a CTA is not performing well, be prepared to get rid of it – it is just taking up space and overwhelming visitors. 
4. Re-evaluate remaining CTAs and make informed decisions on which CTAs to display based on user behavior. 
5. Consolidate CTAs on SRP and VDP pages.

All data and analysis was gathered from PERQ’s FATWIN Web Engagement, a platform that ‘virtually’ trains dealership websites to have relevant, real-time ‘conversations’ with each visitor through dynamic interactions (such as incentives, appraisal, warranty information, etc.), that change based on the consumer’s journey across the website.

For more information about accessing PERQ’s Auto Website Conversion course, click here.

About PERQ 
PERQ (http://www.perq.com), a marketing technology provider, boosts website conversions by creating and delivering interactive experiences to the right consumers at the right time. Founded in 2001, PERQ solutions today are used by more than 1,000 businesses across the United States. PERQ’s brands have been named to the Inc. “500 Fastest Growing Companies in America” list on three separate occasions.

PERQ Media Contacts 
Melanie Webber, mWEBB Communications, melanie(at)mwebbcom(dot)com or 949-307-1723 
Cassandra Cavanah, mWEBB Communications, Cassandra(at)mwebbcom(dot)com or 818-397-4630

(1) Behavior data gathered from 45,000 consumers who appraised their vehicle via PERQ’s FATWIN trade-in tool in 2016 
(2) DATA point: January 2017 Dealer.com insights report

Gubagoo/ChatSmart presented with ‘Top Rated” award for Dealer Satisfaction in Chat Tools and Services Category

New Orleans, LA – January 27, 2017 – Gubagoo/ChatSmart is the recipient of a “Top Rated” Chat Tools and Services award in the eighth annual DrivingSales Dealer Satisfaction Awards. The awards, presented at a special event on January 27th in conjunction with the 2017 National Automobile Dealers Association (NADA) Convention & Expo, are based on DrivingSales Vendor Ratings, which comprise 35,000 validated user reviews.

 “We built ChatSmart to be the most advanced and comprehensive live chat tool available. Period. It doesn’t matter what device the customer is using, or what channel they’re on,” said Brad Title, CEO and Founder of Gubagoo.  “ChatSmart makes it simple and easy to connect, any way the customer wants, at any time.”

In addition to total availability across time and channels, ChatSmart connects with key customer points of interest. For example, the technology is integrated with dealer inventory – because that’s what customers want, and delivering it why ChatSmart converts. In fact, according to Gubagoo data, over 72% of chats are related to inventory. Combine that with ChatSmart’s robust video capability (another must-have consumer expectation), and chat becomes a powerful conversion tool no matter what the customer is doing – regardless of whether they’re on SMS, web or even Facebook Messenger.

“We congratulate Gubagoo on earning a “Top Rated” Chat Tools and Services Award for consistently contributing value to its dealership customers throughout 2016,” said DrivingSales CEO and Founder, Jared Hamilton. “DrivingSales Vendor Ratings help dealers make important, informed vendor decisions by providing peer reviews on solutions, leading them to outstanding service providers such as Gubagoo, with Chatsmart.” 

The DrivingSales Dealer Satisfaction Awards are based on cumulative ratings tallied and verified over the calendar year (January – December) at DrivingSales.com Vendor Ratings.  DrivingSales.com Vendor Ratings is the industry’s only neutral, comprehensive vendor rating forum featuring real-time peer reviews and honest competitor comparisons. The site provides dealerships with important information from actual customers who have hands-on experience using vendor products / solutions in their stores. Each rating is verified as coming from an actual dealership employee.

Full award results are available online at http://dealersatisfactionawards.com/. Award winners are showcased in the Q1 2017 issue of DrivingSales Buyers Guide which, in addition to being distributed at the 2017 NADA Convention and Expo, is delivered to every new car dealership nationwide, as well as to more than 2,000 of the top used car dealers in the U.S. The DrivingSales Buyers Guide represents over 1,000 automotive solutions and over 35,000 dealer reviews of those products from DrivingSales Vendor Ratings, identifying the solutions that have risen to the top. 

About Gubagoo

Based in Boca Raton, Gubagoo is the leading provider of dealer live chat, text, and call solutions. Gubagoo offers seamless integrated web-based, SMS, and call monitoring technologies for automotive dealerships. Our passion for customer service and lead conversion, makes Gubagoo the best 24/7 car dealer chat, text, and overflow call provider in the automotive industry. Gubagoo’s U.S. based operators, receive the highest level of training and certification to make certain every customer that engages in a live chat, text, or call, receives the best possible customer experience. Gubagoo delivers the best quality of service to automotive dealership customers and strives to maximize the dealership’s lead conversion rate and long-term auto sales. For more information about Gubagoo products, visit www.gubagoo.com or contact 855-359-2573.

About DrivingSales

DrivingSales serves automotive retailers with an integrated suite of technology, knowledge, community and performance insight designed to advance the success of retail professionals and their dealerships. Founded by a third-generation car dealer in 2008, today DrivingSales is utilized by two-thirds of franchised dealerships in North America as a resource to improve their business performance. To learn more about the DrivingSales community, news, dealer education or performance analytics visit DrivingSales.com.

DrivingSales Media Relations:

Madeleine Low (maddy.low@drivingsales.com), DrivingSales, 866.943.8371