TOGETHER WITH
Happy Tuesday, Friend!
Hit us up and tell us about your Labor Day! Then, read today’s email for some news from our friends at Gettel, data from the Haig Report, and the latest in video libraries!
Keep Pushing Back
-Paul, Kyle, Chris & Kristi
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MORE THAN CARS MOMENTS
Two Big Checks ✅✅
The Gettel Foundation just made some serious waves in the community with a $50,000 donation, split between two Florida high schools.
Parrish Community High School in Bradenton and Loften High School in Gainesville each scored $25,000 for their Automotive Maintenance and Light Repair programs.
This isn’t just a boost for the schools—it’s fuel for the future of the auto industry! Huge thanks to Ellen Walther, Public Relations Director at Gettel Automotive Group, for sending this awesome story our way.
Gettel Foundation, you’re doing more than giving back—you’re driving change!
TOGETHER WITH TRADEPENDING
Better Than Your DVD Library, A Video Library of Your Inventory
Want to know what the pros do when it comes to using video for sales in their dealership? They make a walk-around video of every vehicle that lands on their lot.
Why?
So they can have a video library to quickly send out personalized videos to all of their internet leads asking about their vehicle of interest.
See how Jenkins Kia of Gainesville pulls this off, along with some other best practices for video.
Q2 Haig Report Released
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The latest Haig Report dives into the nuts and bolts of the auto market, giving dealers a clear picture of what’s going on in the field country-wide.
With some brands surging and others struggling, plus shrinking profit margins and a noticeable dip in dealership earnings, this report is packed with the kind of insights that can help dealers make smarter decisions in a market that’s anything but predictable.
Haig Partners / Automotive News
Car brands are seeing mixed results in year-to-year sales. While some are gaining traction, others are losing ground.
Volkswagen: Surged 31% in Q2 2024, bouncing back after a tough period.
Jaguar Land Rover: Up 20.8%, driven by strong demand for Defender and Range Rover models.
Mercedes-Benz: Dropped 11.8%, as its EV strategy struggles.
Audi: Down 12.4%, marking a significant decline among luxury brands.
Haig Partners / SEC Filings
Haig Partners / SEC Filings
Margins are shrinking, especially for new vehicles, while used vehicles show modest gains.
New Vehicle Gross Profit: Fell 26.9% from last year, averaging $3,447 per vehicle.
Used Vehicle Gross Profit: Increased 1.9% from Q1 2024, but still down 23% year-over-year, at $1,628 per vehicle.
Haig Partners & SEC Filings
Dealership earnings continue to decline from their 2022 highs, but still above pre-pandemic levels.
Q2 2024 Earnings: Averaged $1.0M in pre-tax income per dealership, a 35% drop from Q2 2023.
Annual Earnings: Over the past year, dealerships earned an average of $4.5M, down 27% from 2023. If current trends persist, 2024 earnings could fall to $4.0M, a 25.5% decrease.
AROUND THE ASOTU-VERSE
Coming Soon
🍎 September 16th — The Welcome Conference in NYC.
🤠 November 5-8th — Opening presenters at the 2024 ATAE PR & Communications Focus Group Meeting in Austin, Texas.
⚜️ January 23-26th, 2025 — NADA Show in New Orleans.
🦀 May 13-16th, 2025 — ASOTU CON in Baltimore, Maryland.
30-Minute Webinar
Is your title department struggling to keep up with the evolving demands of the business?
Join us on September 12th at 2:00pm EST for an ASOTU Edge webinar that will help identify areas where your title department may be lagging and how to address challenges head-on.
Don’t let your title department fall behind the curve — register today!
Quick Hits
History
1783: The American Revolutionary War ends with the signing of the Treaty of Paris by the United States and the Kingdom of Great Britain. 🇺🇸
1935: Sir Malcolm Campbell set a new world speed record by surpassing 300 mph with his 2,500 HP Bluebird (breaking his earlier record of 276.82 mph). 🐦
1967: “Dagen H" in Sweden (which translates to "H-Day") refers to this day in history when the country switched from driving on the left side of the road to the right side overnight. 🔀
Thanks for reading, friend! Tuesday is always a bit of an imposter, but the Tuesday after a holiday Monday may be more so.
