The Car Buying Process
What are three third party sites dealers like to advertise on?
Do GSM's tend to have any decision making power?
No - their main gola is to help close deals and negotiate for sales reps.
Depends on the car.
Where do the majority of clicks and conversions usually go to on a typical new car ad campaign?
New Car Specials or the New Car Inventory
What department makes the most money?
Service
Fixed Ops
Name 3 popular CMS's auto dealers.
DealerOn, Dealer.com, Fusion, Dealer Inspire,Dealer Fire, Naked Lime, Dealer E Process, CDK, AutoRevo, FusionZone
What brands are the highest ones up YOY in sales?
Honda
Toyota
Hyundai
What does SRP and VDP mean?
Search Results Page
Vehicle Details Page
What does the company Podium mainly sell to our dealers? (2 main products)
Review and Reputation Help to get reviews
AI Agents
What do delaers call the interface that allows a person to buy a car on their site?
Digital Retailing Tool
What is a buy-sell?
When a dealership is being acquired, sold or bought - AKA a real estate transaction to buy or sell the business and all of its assets.
What EV company is slowly moving up in the rankings and is projected to take a lot of market share from Tesla?
Rivian is shifting from a niche startup into a mainstream volume competitor. While the overall automotive market share remains tiny at roughly 0.25%, Rivian is steadily eating into the premium and midsize electric SUV segment
What is the FTC cracking down on?
The advertised price has to be the real price.
What is the token military offer most dealerships give?
$500 off a new or used car
How do you get a carfax for free?
Shop with a branded dealer or a dealer that pays for carfax (about 99% of dealers pay for it)
Who is the main person in charge at a dealership?
General Manager
Owner
Dealer Principal
What single brand (not automaker group) sells the most cars in the US?
Toyota
What is a VIN number and why is it important?
Vehicle Identificiation Number, unique identifies the vehicle
What is a stock number?
Identifier of a vehicle
If you want to learn a lot about a dealership you are about to talk to and don't have time, what are three things you can do?
AI
research the area
look at their specials
compare how they come up online
look at their social media
Research the GM
What is an RO?
Repair Order
What is the 2nd highest selling EV after Tesla's Model 3 and Model Y?
The best competitors on the market are the Hyundai Ionic5/Kia EV6 twins, and the Ford Mustang Mach E.
How many new car specials should you ideally have for sales success on a page?
5 or more
What is CPO and why is it better than a Used Car?
Certified Pre Owned Vehicle, better because it has a warranty with it and is generally a one owner car with lower miles.