This Cuda can be yours. One problem, it’ll set you back $2.75 million.
There’s, believe it or not, a certain science to selling used cars that deals with algorithms and buying habits and types of analytical tools. When all is said and done, though, it comes down to this: when is the best time to sell and buy a used car? Obviously the answer is going to be different depending on which side of the equation you are on. [keep reading]
First, let’s begin with a question – is there a right way and a wrong way for brands to use social media? Here’s an answer – it’s a trick question because, in my opinion, there is no right and wrong way. Wait, so actually I guess the answer is no. Some prolific users of social media might argue differently, but every brand or person can do whatever they want with their online persona.
It really depends on the goals a brand sets out to achieve that will determine if there really is a right or wrong way. Is the goal to increase followers and engagement or simply to advertise coupons or deals? You’ve heard it before, social media is still pretty much like the wild west and there are no rules. As long as you’re not Tweeting to the corporate account by accident like that guy from Chrysler, you can Tweet, message or post whatever you want. [keep reading]
As the Business Intelligence Manager at Mojo Motors, I spend a lot of my day looking through data attempting to find valuable pieces of buried information. The primary feature of Mojo Motors is alerting car shoppers when dealers drop prices on their used cars and trucks. Dealerships only want vehicles to stay on their lot for about 60 to 90 days. If they can’t sell the vehicle in that time, they send it to auction instead. Before this, however, they will continually drop prices.
Mojo Motors alerts members by email every time a price drops on a vehicle. Rather than browsing the web all day, shoppers can track the prices of vehicles they’re interested in and receive an email when a car drops into their price range. The real question at this point is how often do vehicles drop in price and what are the best months for finding great deals on used vehicles? Here is where I can help.
This graph shows the average number of price drops per vehicle on Mojo Motors in 2012. Dealers drop the price of a car an average of 1.32 times per month, but some months it happens more, and others less. Between July and October dealers drop the price of their cars most frequently, whereas January through March dealers drop their prices least frequently. This pattern matches the sales pattern of used cars. [keep reading]
There’s a 14 year old girl in Michigan rebuilding a Pontiac Fiero. She’s like the prodigal child of automakers. Watch her story below.
The world of NASCAR as we know it was changed when Toyota entered the ranks of racing in 2007 with the Toyota Camry. This got the blood boiling for many fans who took it as a personal affront that a foreign car manufacturer was allowed to race with their beloved Fords, Dodges, and Chevys. The most common argument made was that NASCAR rules state that vehicles competing on the racing circuit must be based on American vehicles. I think we can clear this little misunderstanding up right away.
The Toyota Camry, the nameplate on the 2007 race car, is manufactured in Georgetown, Kentucky. This same Camry has been the best-selling car in the United Stated for years and Toyota employs some 152,000 American workers. It is obvious that Toyota can now be considered as much an American manufacturer as GM and Ford, who still build a significant number of their vehicles in Mexico and Canada.
Plus, Toyota developed their race cars for NASCAR in North Carolina. These facts make Toyota more than qualified to race according to the NASCAR rulebook. And race they have. [keep reading]
One theme I kept hearing at the NADA workshops was that the buying funnel is dead. Since the 1950’s, marketers have operated under the assumption that consumers buy stuff in a process that resembles a funnel. At first consumers are aware of many options and in time narrow this down until they settle on a final purchase decision. Pat Ryan Jr., Founder of FirstLook and MAX Systems has a perfect graphic of funnel.
The buying funnel is a nice way to think about the process because it’s simple and it makes marketing decisions easy. In order to increase purchases, all one has to do is focus on filling the top of the funnel – raising awareness. I think this is probably the reason that car dealers budget such a large percentage of their marketing spend on television, print, billboards and SEM. [keep reading]
Are cars with personality, charm and charisma dead? Jason Harper from Bloomberg seems to think so. In his recent article, Harper asks “In this age of mass production and global distribution, have we seen the last taillights of cars with personality? Where are the oddball autos that appeal to only a heartfelt few?”
Cars that Harper digs from the “good old days” are the Citroen DS-19, the Morris Minor Traveller or the Buick Riviera. Sure, those were cool cars, but isn’t it natural for people to look fondly at the past? It’s why after every Super Bowl, people say the commercials were disappointing inferring some sort of benchmark was set in the past. People were more wholesome too, our country was stronger, gas was cheaper, Adam Sandler made funnier movies and cars had more personality.
To his credit, Harper does believe electric cars from Fiskar and Tesla are a sign of change. Their interiors, their curves and wacky details have stimulated excitement in the car industry. Nonetheless, beautiful design aren’t just limited to electric cars. It could be argued a whole host of quirky and charming cars can be found at a dealership near you. Here are a few. [keep reading]
Hope everyone had a nice President’s Day. Welcome back.