Autosignal | Wednesday, April 30, 2014

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New-Vehicle Sales Gain Momentum, With Consumer Spending at Record-Level Pace
Keywords: Autos-New Domestic | Autos-New Imported

If preliminary reports hold true, April should be another strong month for U.S. vehicle sales.

The number of transactions appear to be headed for the 16 million mark on a Seasonally Adjusted Annual Rate (SAAR) for April, according to the surveys. As a comparison, the industry sold 15.5 new vehicles for all of 2013. J.D. Power estimates that consumers will spend $33.5 billion purchasing new vehicles this month, a record amount for April.

(Source: The Detroit Bureau, by Joseph Szczesny, 04/28/14)
 
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Poor Service Ranks as Leading Reason for Switching Auto Insurance
Keywords: Auto Insurance

A new study by J.D. Power and Associates finds that 30% of auto customers shopped for a new insurance provider in 2013, among whom 36% ultimately switched insurers.

As a reason for changing providers, the survey showed that increases in premiums do not drive shopping as much as poor experience. Customers who experience a premium increase shop at a rate of 13% -- less than half the rate of shopping among those who have a poor experience (28%).

(Source: J.D. Power and Associates, 04/24/14)

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Surge in Off-Lease Vehicles Should Buoy Used-Car Market
Keywords: Autos-Used | Auto Leasing

Thanks to a large number of off-lease vehicles returning to market this year, dealers' search for a supply of reasonably priced used cars and trucks appears to be just about over.

According to Manheim projections, some 2.1 million off-lease vehicles will be back on the market this year, up from 1.7 million in 2013. Manheim projects that number to increase to 2.5 million in 2015.

(Source: Automotive News, by Arlena Sawyers, 04/21/14)

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Daily Sales Tip: Handling Rejection, While Maintaining Focus

Here are three ways to deal with rejection and stay focused:

1. Learn from lost sales. Use an outline to review what could have been done better. It may help to try to list things that could be done better in the future.

2. Keep a success journal. A constant barrage of resistance can often eclipse recent successes. Keeping a journal of sales successes isn't for dates and dollar signs only. Entries should include details, such as:

-- Approach
-- How objections were handled
-- What made the customer buy

3. Get a boost from customers. When things aren't panning out, salespeople should remember what's working for existing customers. Keeping a file of positive customer feedback and testimonials can give a salesperson a quick boost.

Try to contact those customers to learn what they appreciate most. Comparing that feedback to recent efforts might lead to a breakthrough.

Source: Adapted from Break The Rules Selling, by John R. Graham


Advertising Agency Franchise Owner, Viamark - MA, CT, RI, NH, VT, ME, NY, NJ, PA, DE, NC, SC, TN, GA, FL
Chicago Suburban WSPY FM seeks Station Manager, WSPY-FM


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