Hireology is looking to help dealerships slow the costly churn of employees being added and subtracted from their workforce.
Officials from the hiring and talent management platform are working in partnership with Cox Automotive and the National Automobile Dealers Association to host a retail automotive human capital management summit called Elevate. Intended for general managers, dealer principals and HR leaders, Hireology insisted attendees will assess competencies, identify gaps and formally develop 2018 human capital management plans during the conference, set for Sept. 19 in Chicago.
Hireology went on to highlight participants will build the strategy and tactical plan to turn their hiring and talent management processes into a source of competitive advantage. Leveraging a provided playbook to guide discussion, attendees will create a plan unique to their organization and outline steps necessary to successfully implement changes after the event.
“As the retail automotive industry enters a more challenging cycle, management teams must leverage human capital as a source of competitive advantage,” said Adam Robinson, co-founder and chief executive officer of Hireology.
“For most dealerships, the people side of their business is an under-managed operation that represents huge upside potential. Attendees will leave this event with a defined human capital game plan that can dramatically improve their competitiveness and profitability.”
New research from Cox Automotive and Hireology will be released at the event, providing critical insight into the state of dealership staffing. Through extensive research of more than 1,000 dealerships, their employees and the broader U.S. workforce, the 2017 Dealership Staffing Study provides perspective on
—Current perceptions of working in automotive
—How to drive greater applicant engagement
—Tactics to drive great buyer satisfaction via your staffing strategy
A wide array of summit speakers are on the agenda, including:
—Michael Dunlap, director of business development at Schomp Automotive
—Isabelle Helms, VP of research and market intelligence at Cox Automotive
—Chris Hoffman, regional managing partner in San Diego at Fisher & Phillips
—Chris Holzshu, executive vice president & chief human resources officer at Lithia Motors
—Jessica Kain-Barton, director of client relations and sales at Kain Automotive
—Eve Knudtsen, president at Knudtsen Chevrolet
—Eric Savage, owner of Freedom Automotive Group
—Steven Szakaly, chief economist at NADA
Elevate will be held Sept 19 at the Hilton Rosemont/Chicago O’Hare, located at 5550 N. River Road in Rosemont, Ill. Click here to register and purchase tickets. For more information, call (312) 283-3625, email hpigman@hireology.com or visit hireology.com/elevate2017.
Black Book now serves as the trade appraisal engine for eAutoAppraise, an online trade-in solution fitted with vehicle shopping features designed to lead dealers to more successful sales transactions.
All eAutoAppraise dealers can now provide customizable value ranges on specifically tailored vehicle questions powered Black Book values.
Ranges are narrowed down following a series of questions answered by the customer about the details of their vehicle trade.
"We're excited to partner with eAutoAppraise, a superior online appraisal engine that offers dealers a chance to close more deals quicker, and make strong profit margins," Black Book senior vice president of sales Jared Kalfus said in a news release. "An accurate valuation on a trade is a key component to the car-shopping experience, and customers that come equipped with a more narrow number in mind have a better experience at the dealership."
Additionally, eAutoAppraise’s office suite also offers dealers values, special offer banners and direct mapping to specific dealerships for geo-targeting.
"Our mission is to provide dealers with the best leads possible for increased sales, and to serve as the catalyst for simple vehicle sales transactions," Barry Brodsky, managing partner of eAutoAppraise, said in the release.
"The vehicle trade appraisal component is extremely crucial to any new vehicle transaction, and with Black Book powering our valuation process we're confident that we can offer up an experience that will increase customer satisfaction online and at the dealership," he said.
Sheehy Auto Stores recently announced that it raised a record donation of $285,000 to give the American Heart Association this summer.
The company made the donation as part of its annual Sheehy 8000 campaign, a community-wide effort from May 12 to July 5, where Sheehy dealerships sold a combined total of over 8,000 new and used vehicles in efforts to raise the annual donation.
In addition to raising funds and awareness for the American Heart Association, the 54-day campaign also included community events such as heart-healthy cooking, food and CPR demonstrations.
"This year was a milestone for us and we are grateful for the support from our customers, communities and team members that have made this campaign such a success," Sheehy Auto Store president Vince Sheehy said in a news release. "We are proud to support such a great organization that does so much to educate and help prevent the risk of heart disease and stroke."
For several years, Sheehy has also been a sponsor and active partner at the American Heart Association’s National Walking Day event held on the first Wednesday in April at Springfield Town Center.
Additionally, this year, each of Sheehy's dealerships hosted individual step challenges between employees on the day of the event, according to the company.
"We are so grateful to the Sheehy Auto Stores family, their partners and customers for another record-breaking year," Michelle Nostheide, vice president of the American Heart Association, said in the release.
"The funds and awareness raised during the Sheehy 8000 will go a long way in furthering our life-saving mission in our communities," she said.
Last year's annual campaign, the Sheehy 7000, raised $225,000 for the charity. According to Sheehy, it has collected a total of over $40 million on behalf of both community and non-profit organizations since its inception.
RMS Automotive recently announced that it has partnered with vAuto to make the evaluation and acquisition of manufacturers’ premium off-lease and off-program vehicles a speedier process for dealers.
Open sale inventory listed on manufacturers’ digital sales platforms powered by RMS Automotive is now integrated into vAuto’s Stockwave tool.
The integration can save dealers time sourcing high-quality used vehicles and allows manufacturers to increase exposure of their inventory via Stockwave’s buyer base, according to RMS.
“Our partnership with vAuto is another example of how RMS Automotive leverages its connectivity to other Cox Automotive brands to drive more informed decision-making for our clients,” RMS president Nick Peluso said in a news release. “This initiative provides dealers unequalled access to pre-auction inventory and helps manufacturers accelerate transactions by channeling the right vehicles to the right dealers at the right time.”
BMW Financial Services is one of the first commercial consignors to incorporate their wholesale inventory into Stockwave.
Using customized search streams on BMWGroupDirect.com, dealers can view pre-auction inventory in addition to rank vehicle types by cost, availability and other factors.
“The collaboration with RMS Automotive is part of the Stockwave promise – that we make the task of acquiring wholesale inventory more efficient and profitable for dealers,” Randy Kobat, who is senior vice president of Inventory Software Solutions for Cox Automotive’s Retail Solutions Group, said in the release. “The first step, of course, is having all wholesale inventory in one place. Our partnership with RMS Automotive brings us another step closer to this important goal.”
Stockwave’s inventory stream totals nearly 300,000 auction vehicles. Additionally, the company said its team is currently working to integrate wholesale inventory from other OEM-related sources.
In partnership with the National Association of Minority Automotive Dealers, Cox Automotive awarded its Rising Star Award to a Kentucky general manager, in honor of her leadership and commitment to both the automotive industry and her community.
Chosen for the award is Wadette Bradford of Martin Kia, in recognition of her work expanding the brand recognition and profit margins of both new and well-established dealerships.
Cox Automotive senior vice president of talent, diversity and culture Nicole Ashe presented Bradford with her award at the NAMAD annual meeting awards dinner in Miami on Thursday.
In her role as general manager, Bradford has increased inventory turns, developed innovative digital marketing campaigns and increased service gross profit, according to Cox Automotive.
“On behalf of Cox Automotive and in partnership with NAMAD, I am honored to recognize Wadette for her phenomenal achievements in automotive,” Ashe said in a news release. “Wadette is aspiring to be a franchise dealership owner-operator, and with her enthusiasm and passion for the automotive industry, I am confident that she will achieve that goal.”
Prior to Martin Kia, one of Bradford’s significant career achievements was building an enterprising partnership with business leaders around Lexus of Huntsville, an Alabama dealership where she began her career.
Under the leadership of her first mentor, Ellenae Fairhurst, Bradford established a client relationship to secure a multimillion-dollar contract which resulted in record pre-owned gross profit and unit sales, according to Cox.
“I am honored to be the first woman to receive this prestigious award,” said Bradford. “My role model, Mrs. Ellenae Fairhurst, a Lexus dealer in Alabama, gave me the foundation for my success with my first management job, for which I will be eternally grateful. Ms. Amber Martin’s keen business acumen to recognize talent afforded me the opportunity to sharpen my skills as general manager with the Martin Management Group. As we continue to surge forward growing the business, claiming new market share, increasing our support of the community and our profitability, my hope is to inspire other women to join the automotive industry.”
Bradford was chosen for the Rising Star Award based on nomination criteria such as being an NAMAD member under the age of 40 showing proven leadership qualities in the automotive industry.
She is a member of the Kentucky Auto Dealers Association, the American International Automobile Dealers Association Rising Dealers Network and NAMAD NextGen. In Frankfort, Ky., she participates in the Kentucky Auto Dealers Association’s Lobby Day which aims to educate legislature about issues that affect consumers, dealers and their employees.
Bradford also lobbies in Washington, D.C., on Capitol Hill with the American International Automobile Dealers Association.
Additionally, in her community, Bradford is a member of the Bowling Green Chamber of Commerce Young Professionals and United Way.
In 2010, Bradford graduated from the National Automobile Dealers Association Academy at the top of her class.
She holds a bachelor’s degree from Alabama A&M University and a master’s degree from the University of Alabama in Huntsville.
In Bradford’s honor, Cox Automotive is donating $5,000 to one of its national diversity partners chosen by her.
She chose the National Urban League, a non-profit organization with a mission of empowering African-Americans through economic self-reliance, parity, power and civil rights.
Car Keys Express has expanded the company’s international footprint further with the opening of its first European office, which will be in London.
“This year, we pushed well beyond our core markets in the U.S. and, with the successful move into Canada, London is a natural first step to introducing our service to the overseas market,” Car Keys Express vice president of sales and marketing Michael Bliss said in a news release.
“It's clear there’s demand for our services worldwide. We were approached by a number of European businesses, at a variety of industry events, commenting on their need for a service like ours,” Bliss said.
Car Keys Express’ initial rollout of service within its new market will begin in early 2018; logistical planning for the London office is in progress.
“While there are slight differences in the automotive security technologies used in Europe, it’s all basically the same,” said Mark Lanwehr, owner and founder of Car Keys Express. “Our engineers specialize in understanding these subtle differences, making us a perfect fit for expansion in the UK and beyond.”
Additionally, Car Keys Express said it will also form a European research and development division.
Currently, the company offers services in 48 U.S. states and five Canadian provinces, covering over 1,700 cities.
Based on preliminary results released Wednesday, Lithia Motors is expecting its same-store used-car unit sales to have increased 4.6 percent in the second quarter.
Meanwhile, Lithia is anticipating a 3.8-percent to 4.1-percent increase in used-vehicle retail same-store sales.
All this part of a quarter where early indications have Lithia’s net income finishing between $51.5 million and $53 million in the second quarter (compared to $51.4 million a year ago) and revenue projected to reach somewhere between $2.425 billion and $2.475 billion, according to the company.
The retailer may also broaden its presence soon.
“We grew revenue and adjusted earnings per diluted share by double digits as our results exceeded our internal projections in the second quarter. Our store leaders continue to modify their tactics in this dynamic market and produced strong results in retail used vehicle sales, service and parts and F&I,” Lithia president and chief executive Bryan DeBoer said in a news release.
“The acquisition market remains active and we believe this is an opportune time to access additional capital for growth,” he said. “We seek greenfield-like returns on our acquisition targets and anticipate further activity in the near future.”
A full run-down of the forecast can be found in the news release from Lithia. Complete results will be announced on July 28.
Dealership buy/sell advisory firm Kerrigan Advisors this week hired a new vice president who has been involved in accounting consulting to more than 150 dealerships across the country.
Kerrigan Advisors announced that Mercedes Hendricks has joined the firm as vice president, bringing extensive certified public accountant expertise and a deep understanding of the dealership industry to the company.
Hendricks will work directly with Kerrigan Advisors’ clients as they prepare their dealerships for sale, adjusting their financials to better reflect their true earnings and identifying opportunities for business improvement. In addition, she will spearhead Kerrigan Advisors’ new consulting services, which launched this summer.
“We are delighted to have Mercedes join the Kerrigan Advisors team,” said Ryan Kerrigan, managing director of Kerrigan Advisors. “We have worked with Mercedes for years and have always considered her among the very best in the industry. Her deep knowledge, and decades of experience, nicely enhance our firm’s capabilities.”
The firm highlighted those capabilities will be put to work with a new suite of consulting services for Kerrigan Advisors’ expanding roster of clients, including open point applications, transactional due diligence, litigation support and pre/post-closing accounting services.
“In addition to our sell-side work, we are often called upon by our clients to do various strategic consulting projects and to be a thought partner for key business decisions,” said Erin Kerrigan, founder and managing director of Kerrigan Advisors. “The addition of Mercedes to our team will further expand the scope of these activities and enhance our ability to offer the automotive industry the highest level of service through our new Kerrigan Advisors Consulting Services division.”
Prior to Kerrigan Advisors, Hendricks provided public accounting expertise in the areas of assurance and consulting. She also spent nine years with Crowe Horwath in their dealership services group. There she managed large projects ranging from traditional audit and review engagements to non-traditional consulting engagements, such as due diligence services in mergers and acquisitions, consolidations, reviews of internal controls and tests of compliance.
“She was a mentor and supervisor for teams and individuals from across the nation, and is considered a key thought leader in the automotive accounting services space,” Kerrigan Advisors said about Hendricks.
Founded in 2015, Kerrigan Advisors has represented transactions totaling more than $2.5 billion in automotive, private equity and investment banking, including the sale of 51 dealerships.
To generate more high-quality conversions for car dealers, LotLinx has expanded its VS product suite with two new CX solutions designed to enhance and customize the customer experience, the company announced on Thursday.
The new products include CX – Photo AI and CX – Amplified Mobile Pages. Both have been equipped to extend VIN-specific consumer engagement and stimulate more profitable digital advertising campaigns, according to LotLinx.
“The auto industry is constantly evolving, particularly with the shift from traditional ad spend to digital campaigns and outreach,” LotLinx founder Len Short said in a news release. “With these new consumer-oriented products, we’re taking a ‘dealer-first’ approach with solutions specifically designed for dealers who are faced with increased days-on-lot metrics. This is an exciting step forward for our company.”
CX – Photo AI can boost underperforming ads with optimized stock photos using artificial intelligence, and CX – Amplified Mobile Pages offers dealers mobile-friendly VIN landing pages optimized to drive high-value conversions.
“Because today’s online car shoppers are 90 percent more likely to view an ad that contains an image, and will wait just 3 seconds for a page to load before abandoning, the logical next step for LotLinx was to release the consumer experience-oriented CX suite,” the digital advertising technology company said.
Photo AI was created to both formulate more relevant and visually appealing ads for viewers and detect when ads are running without an image, according to LotLinx.
“As global consumers rely more on smartphones for their shopping, AMP delivers faster, conversion-enhancing pages, allowing dealers to make the most out of mobile,” the company added.
Additionally, LotLinx recently expanded its VIN-specific solutions for Facebook to include VS – Lead-Enabled Retargeting and launched the LotLinx TURN platform earlier this year.
The newly released Prospect Satisfaction Index U.S. Auto Industry Benchmarking Study by Pied Piper Management Company has ranked Nissan’s Infiniti brand dealerships the highest for a second year.
Toyota’s Lexus brand ranks second, and dealerships selling Mercedes-Benz are ranked third.
Pied Piper’s process to determine its rankings includes “mystery shopping” measurement and scoring to industry sales success.
Between last July and this past June, the company measured in-dealership treatment of car-shoppers by deploying 5,289 hired anonymous “mystery shoppers” to dealerships located across the country.
“Today nine out of ten car-shoppers gather information on-line before they ever visit a dealership,” Fran O’Hagan, Pied Piper Management president and chief executive officer said in a news release. “Dealerships today have to work hard to be helpful from the first visit, because they may not have another opportunity.”
Tesla, Mitsubishi, Lincoln, Ram, Subaru and Chevrolet brands have improved the most from year to year, according to Pied Piper.
Tesla, which improved 8 points from 2016, had the most improvement of any brand, according to Pied Piper. The U.S. brands low PSI score resulted from high variability in sales process behaviors across Tesla stores, the company said.
“For example, Tesla staff on average asked how the vehicle would be used only about half the time (64%), asked about trade-ins 45% of the time, and suggested going through the numbers 56 percent of the time.” Pied Piper explained.
“About 23 percent of Tesla visits were exceptional experiences that under the PSI “letter grade” scale earned an “A,” with an average PSI score above 130. However, 32 percent of the visits earned a PSI letter grade of “D” or “F,” with an average PSI score below 75.
A total of 21 brands improved or remained the same from 2016 to 2017, while 12 brands declined. Declining brands include Jeep, Fiat, Volkswagen and BMW.
Nine brands consistently ranking at or above the industry average each year includes Infiniti, Lexus, Mercedes-Benz, Toyota, Honda, Hyundai, Audi, BMW and Kia.
Chevrolet, Land Rover, Mitsubishi, Mazda and Fiat are five brands that have scored below the industry average for each of the past five years.
For more information about the Prospect Satisfaction Index and Pied Piper’s scoring process, visit www.piedpiperpsi.com.
