Vast executives to share insights on how a shift in fundamental marketing strategies can lead to increased used vehicle sales for car dealers

Austin, Texas – June 22, 2016 – Vast announced today that two of its executives from its CarStory® product team will be sharing insights into how dealerships can improve marketing strategies to make stronger connections with today’s used car shoppers, presenting data on the importance of appealing to customer’s needs versus stereotypical demographics.

The presentations are based on a month-long survey carried out by Vast’s Research Department that sought to better understand the needs of today’s used car “buyer personas.” Vast connects buyers and sellers of cars and homes through data-driven discovery experiences. CarStory.com, Vast’s vehicle discover site and app, utilizes the Vast data platform to understand consumer intent and match each shopper with the right vehicle.

Women in Automotive, Orlando, FL

Stefania Mereu, VP of Research for Vast, will speak at this month’s Women in Automotive in Orlando, Fl (June 26-28). Mereu’s session, entitled “The Doctor is In: Prescribing Marketing Plans to 3 Women Personas” takes place Tuesday, June 28th from 10:25-11:10, and will shatter stereotypes while helping marketers understand the importance of marketing to personas versus simple demographics. Mereu holds a Ph.D. in Cognitive Psychology and strongly believes data should overrule gut instinct. She has developed products and insights for Vast that increased product conversions by 700%.

Digital Dealer 21, Las Vegas, NV

Ryan Leslie, VP, CarStory Strategic Partnerships, will take on a similar theme at Digital Dealer 21 in Las Vegas (August 8-10) in his session entitled: “Overcoming Consumer Information Overload – Using ‘Big Data’ to Cut Through the Noise of Information and Unlock the Paradox of Choice.” At CarStory, Leslie is focused on helping dealers capitalize on their marketing opportunity through differentiation.

About Vast 

Vast is a big data-as-service platform that provides consumer experiences —powered by data and analytics — for big purchases in automotive and real estate. Founded in 2005, Vast is the premier provider of big data solutions for many of the Global 1000’s largest automotive and real estate businesses. Learn more at Vast.com.

About CarStory

CarStory is a service that matches used car shoppers with the right car. Using patented technology and an industry-leading dataset, CarStory facilitates an efficient, effective discovery process resulting in a confident purchase decision. With a network of over 6,000 participating dealerships nationwide, CarStory’s available inventory and user-data is the largest, and most accurate in the industry. Discover your new used car and drive happily ever after at: www.carstory.com.

Media Relations: 

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

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

Company founder and director, Carey Fried, to lead “Mindful & Emotional Intelligence for Leaders” workshop

Westlake Village, CA – June 21st, 2016 – CallSource today announced that company director and founder Carey Fried will present a workshop based on Google’s “Search Inside Yourself” curriculum at the upcoming Women in Automotive (WIA) conference taking place in Orlando, FL (June 26-28). The company is also a sponsor of the conference.  CallSource is a leading provider of solutions to help auto dealerships track, analyze and improve incoming call performance.

“We’re passionate supporters of women in every industry and strongly believe in promoting a level playing field in the workplace,” said Carey Fried, founder and director, CallSource, Inc. “We are pleased to be part of an event - as both sponsor and presenter - that offers a platform where women can connect, do business, network and promote connectedness in the auto industry.”

CallSource is sponsoring Track 3 of the WIA agenda – “Personal Development” – which will include sessions designed to empower women (and men) with tools and tactics to improve their personal and business lives.

Carey Fried, a CallSource founder and director, will lead “Mindful & Emotional Intelligence for Leaders,” an experiential workshop, on Sunday at 2:40-3:25. Based on Google’s “Search Inside Yourself” curriculum, the session will combine neuroscience research with relaxing mindful exercises to help conference attendees create a more emotionally intelligent workplace. Fried was trained as in Google’s science-supported mindfulness and emotional intelligence curriculum.

About CallSource

CallSource, providers of award-winning solutions to help dealerships track, analyze and improve incoming call performance, has tracked more than a billion calls since 1991. For over 25 years, CallSource’s award-winning solutions have gone far beyond call tracking to providing marketing insight, including cost-per-lead analysis and sales conversion percentages, training and coaching solutions to improve phone skills, and tools that enable businesses to recapture mishandled sales opportunities. Based in Westlake Village, Calif., CallSource recently received a patent for its Sales Performance Management (SPM) system, which combines the actionable data of its call analytics, performance analysis, advisory services, and online and phone training/coaching from seasoned sales professionals. CallSource serves multiple industries including automotive, home services and healthcare, as well as numerous franchise businesses. Visit callsource.com.

Media Relations: 

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

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

The Blue Sky Report™ released by Kerrigan Advisors analyzes dealership buy/sell activity for Q1 2016; overall activity, including multi-dealership transactions, size of groups coming into market and luxury import transactions, continues to rise; publics’ blue sky multiples decline: valuations at parity or below many private acquisition opportunities

Irvine, CA, June 7, 2016 – U.S. dealership buy/sell activity continued to rise in the first quarters of 2016, including growth in multi-dealership transactions, the size of groups coming into market, and luxury import transactions, according to The Blue Sky Report™, a Kerrigan Quarterly, which today released analysis of the first quarter of 2016.  But, the report reveals, this activity was accompanied by a monumental shift in public market valuations of auto retail stocks, putting a chill on public company acquisition activity.  Year to date, The KAR Index™ (The Kerrigan Auto Retail Index) declined by 11.8% and is down 30% from its high in June 2015.

“For public companies to trade at parity with private dealership groups is highly unusual. In most industries, when public consolidators decline in value, private companies quickly follow suit,” said Erin Kerrigan, Managing Director of Kerrigan Advisor.  “This aberration may be explained by auto retail’s continued fragmentation and domination by private companies.  It should be noted that the publics represent just 8% of industry revenue and a minority of industry acquisitions. Nevertheless, these declines are something to be watched and could be a leading indicator for future blue sky values.”

The report from Kerrigan Advisors is the auto industry's most comprehensive and authoritative quarterly report and analysis of dealership buy/sell 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. 

According to the report, key activities influencing trends in the first part of the year were the completion of a few very large acquisitions, including AutoNation’s purchase of the Allen Samuels Group in Texas and Fremont Private Holdings purchase of Morrie’s Automotive in Minnesota.  Among the leading buy/sell trends, The Blue Sky Report identifies the following three as shaping the market for the balance of 2016:

• Private buyers and new entrants dominating 2016’s buy/sell market
• Acquisition financing terms drive purchase price
• Blue sky values increasingly based on multi-year average earnings

“While the 2016 buy/sell market is expected to be as active as 2015’s, we anticipate greater pricing disparity as industry growth plateaus and dealership earnings come under pressure,” continued Kerrigan. “There seems to be a growing divide between the bid/ask spread in the buy/sell market. Sellers have very high pricing expectations, particularly in the luxury market, and buyers are increasingly challenged to achieve their return on investment requirements.”

The Blue Sky Report™, a Kerrigan Quarterly, is published four times a year and includes Kerrigan Advisor’s 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 KAR Index, designed to help public and private auto retailers understand the true value of their dealerships, while also providing key insights into factors influencing valuations of these public companies, with broader implications for the auto industry as a whole. To access the KAR Index™, click here.

Erin Kerrigan is 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.   

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 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.

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, who authors the report, 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

Index from Kerrigan Advisors shows high inventory levels, gross margin compression, and weak sales forecasts depressing public auto retailer valuations

Irvine, CA, May 18, 2016 – Kerrigan Advisors today announced that The KAR Index™ (The Kerrigan Auto Retail Index) has dropped 9% - from 496.82 to 452.49 – in just the last two weeks, indicating depressed public auto retailer valuations. The KAR Index™ attributes the sharp drop to higher inventory levels, gross margin compression in new vehicle sales, and weakening retailer sales forecasts.

“This is a continuation of a volatile first quarter” said Erin Kerrigan, Managing Director of Kerrigan Advisors.  “After far outperforming the S&P 500 between 2009 and 2015 by over 700%, gravity is starting to set in. With sales growth slowing, auto retail will be a much more competitive industry going forward, likely resulting in lower earnings growth.”

The latest KAR Index™, which is a monthly index for the auto retail industry covering the seven publicly traded auto retail companies with operations focused on the US market, shows:

• Weakening sales projections and inventory surpluses are having an impact on the publics’ forecasts, contributing to declines in their share prices.
• Five of the seven publics – Asbury Automotive Group, Group 1 Automotive, Lithia Motors, Auto Nation, and CarMax - reporting drops in net income in the first quarter of 2016
• Margins for new car sales are under pressure from high inventory levels, more internet sales channels, and increased consumer awareness.

“Although the publics’ share prices are depressed, there is a silver lining: auto retailers have been taking advantage of the dip by repurchasing stock, allowing them to decrease the number of shares outstanding and increase their EPS,” said Ryan Kerrigan, Managing Director of Kerrigan Advisors.

The KAR Index is designed to help public and private auto retailers understand the true value of their dealerships, while also providing key insights into factors influencing valuations of these public companies, with broader implications for the auto industry as a whole. To access the KAR Index™, click here.

Kerrigan Advisors also releases The Blue Sky Report™ four times a year and includes Kerrigan Advisor’s 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 Blue Sky Report, click here.

Erin Kerrigan is 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 recent video 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 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.

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, who authors the report, 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

.

Appointment of key marketing and sales execs, Robin Schweitzer and Bill Bauwens, adds 35+ years of sales and marketing expertise to leading call management company
 
Westlake Village, CA – May 12, 2016 – CallSource today announced the appointment of two veteran sales and marketing executives to its management team. Robin Schweitzer brings a 20-year record of marketing success to her role as Marketing Director for the company; Bill Bauwens adds over 15 years of strategic and measurable sales expertise to the company’s automotive division as National Sales Manager, Auto.

“We are pleased to welcome Robin and Bill to our team and look forward to the many ways they will help us continue our growth as a leading call management company for the automotive, health care and home services industries,” said Elliot Leiboff, Chief Strategy Officer of CallSource. “They will be instrumental in expanding our footprint as the only call management company with a United States Patent for tracking, analyzing, and, crucially, training sales staff to better handle inbound phone leads.”

Schweitzer is an award-winning marketer with an extensive background in results-driven direct and digital marketing. Prior to CallSource, Schweitzer consulted on digital marketing for YP and Taproot and was VP, Client Marketing at Valassis, a national marketing and media company, where her accounts included McDonalds, Starbucks and AT&T. “CallSource’s entrepreneurial spirit and commitment to customer success are inspiring,” says Schweitzer. “I look forward to working within its people-focused culture which clearly breeds passion and commitment to results.”

Previously, Bauwens was Vice President, Sales and Marketing at Santa Barbara-based Neovia where he increased sales by $500K in his first nine months and developed strategic sales and marketing initiatives that drove 90% ROI.
“CallSource, a leader in its space, empowers its management team to be on the cutting edge of technology and product development,” said Bauwens. “I look forward to being part of this strategic team as we take this exciting company to the next level of innovation.”

About CallSource
CallSource, providers of award-winning solutions to help businesses track, analyze and improve incoming call performance, has tracked more than a billion calls since 1991. For over 25 years, CallSource’s award-winning solutions have gone far beyond call tracking to providing marketing insight, including cost-per-lead analysis and sales conversion percentages, training and coaching solutions to improve phone skills, and tools that enable businesses to recapture mishandled sales opportunities. Based in Westlake Village, Calif., CallSource recently received a patent for its Sales Performance Management (SPM) system, which combines the actionable data of its call analytics, performance analysis, advisory services, and online and phone training/coaching from seasoned sales professionals. CallSource serves multiple industries including automotive, home services and healthcare, as well as numerous franchise businesses. Visit callsource.com.
 
Media Relations: 
Melanie Webber, mWEBB Communications, (949) 307-1723, melanie@mwebbcom.com 
Cassandra Cavanah, mWEBB Communications, (818) 397-4630, cassandra@mwebbcom.com 
 

Gubagoo ChatSmart received a “Top Rated” Award for Dealer Satisfaction in the Chat Products Category

West Palm Beach, FL – April 26, 2016 – Gubagoo ChatSmart is the recipient of a “Top Rated” Chat Products award in the seventh annual DrivingSales Dealer Satisfaction Awards.

“We are honored to receive a DrivingSales Dealer Satisfaction Award for ChatSmart,” said Brad Title, CEO of Gubagoo, Inc. “Especially because this award is based on comparisons and ratings from dealerships on the industry’s only neutral feedback platform. We are proud to see that what we work so hard on is making a positive, demonstrable difference to dealerships across the country…it’s why we do what we do.”

Gubagoo has one of the most advanced chat platforms ever made available to the auto industry. Chatsmart, Gubagoo’s 24/7 Behavioral Live Chat, is powered by the B.E.A.S.T behavioral intelligence system and designed to provide a dynamic and customized experience for dealership website shoppers. What’s more, Gubagoo’s recent launch of ResQ adds to the power of its chat product by making it possible for sales staff to monitor all live conversations and determine how best to proceed: ignore it, “whisper” to operators, or “ResQ” the conversation and jump right in, releasing the operator.

“We congratulate Gubagoo on being a ‘Top Rated’ Chat Product Award recipient and for being recognized by its dealer customers for high levels of excellence and customer satisfaction,” said DrivingSales CEO and Founder Jared Hamilton. “For seven years, and through over 25,000 validated reviews, DrivingSales Vendor Ratings has helped dealers make smart, more informed decisions, 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 Vendor Ratings is the industry’s only neutral, comprehensive vendor rating forum featuring real-time peer reviews and honest competitor comparisons, and 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 2016 issue of the DrivingSales DealerExec delivered to more than 2,000 of the top used car dealer in the U.S. For more information on DealerExec, please visit: dealerexecmag.com
 

About Gubagoo

Based in West Palm Beach, Florida, and staffed by a team of veteran technologists and innovators in lead conversion, Gubagoo offers revolutionary behavioral engagement and scoring technologies for automotive websites. With a mission to provide a smarter, more cost-effective alternative to the old lead generation model, Gubagoo is the first dealership website solution that successfully makes anonymous traffic identifiable, and converts the 95% of dealer site traffic that traditionally defects. Incorporating smart predictive matching and the best chat technology available - and powered by its proprietary behavioral engagement and scoring engine, ‘B.E.A.S.T.’ - Gubagoo engages new and repeat dealer site visitors with unprecedented relevance. Over 1,900 dealerships, including some of the nation’s largest dealer groups, as well as OEM-certified programs, already have adopted Gubagoo-powered websites.

Gubagoo Media Relations:

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

Elizabeth Johnson, mWEBB Communications, (213) 713-4865, elizabeth@mwebbcom.com

About DrivingSales 
DrivingSales is a professional network serving the auto industry with dealer-driven news and information, online training, and performance data, all to enable dealers to make critical business decisions at their dealerships. DrivingSales’ mission is to connect progressive dealership professionals to the people and information they need to maximize their success. Founded by a third-generation car dealer, and opened up to the industry in 2008, today DrivingSales has registered users in over 50% of new car dealerships in the US and is active in several other countries around the globe. To learn more about the DrivingSales community, training or performance analytics visit DrivingSales.com, DrivingSalesUniversity.com and DrivingSalesData.com

DrivingSales Media Relations: 
Christina DeVore
christina.devore@drivingsales.com
Events Marketing Director
866.943.8371 x124

Service customers at auto dealerships are intensely loyal -- but are older and spend less than customers of independent shops and chains, according to a recent survey.

So dealers must win converts with online promotions and prepaid programs, said Mike Martinez, chief marketer at DMEautomotive, the marketing firm that commissioned the survey.

Dealer loyalists, defined as those who spend the bulk of their service dollars at the dealership, are more than twice as likely to be 55 years old or older than people who typically get service at independent garages and service chains, the survey found.

Many independent garages specialize in vehicles on their second and third owners, who often are younger than new-car buyers. And the old vehicles frequently need more repairs than new vehicles.

The survey, of 4,000 random adults who had vehicles serviced in 2011, also looked at average annual spending by customers who were highly loyal to dealerships, independent garages or service chains. The 2011 figures: independent garages, $1,191; service chains, $1,178; dealerships, $1,105.

Loyalists of the service chains spend more even though dealership loyalists tend to be wealthier, more diligent in sticking to recommended service schedules and less sensitive to the price of service, Martinez said.

"The aftermarket chains are doing a better job of taking money away from dealers than dealers are taking money away from them."

You can reach David Barkholz at dbarkholz@crain.com.