#445 - 🔬 Measuring Metrics For The Win

TOGETHER WITH

People ask us all the time, “What are you really doing over there at ASOTU!?” So, we figured we would take the chance to finally sit down and lay it out.

While in Tampa we recorded a little something and got the opportunity to share it finally last week. We believe we were able to capture the heart and intention behind everything we are doing at ASOTU! We hope you will take a few minutes and check it out here!

Keep Pushing Back,
-Paul J Daly & Kyle Mountsier

DEALERS

Lookin’ Into Bookin’

David Long and the All Things Used Cars community spoke about appraisal volume, 'look to book' ratios, and the potential pitfalls and profits hidden under the hood.

You can listen to the reply on Clubhouse or check out our quick notes below.

1. 🔭 Watch the Dials: Keeping a steady eye on 'look to book' ratios and appraisal volumes can help rev up improvements, as what gets measured gets managed.

2. 👑 Buyer Power: The consensus agrees that the engine of profit runs on the buyer's decision-making process. Handle with care!

3. 🐜 No Trade-In Too Small: The team urges not to let the 'look to book' percentages put a brake on chasing appraisals.

4. 👉 Lead the Way: Track each lead source separately. Not all roads (or leads) are created equal!

5. 💎 Appraisal for All: Everyone who walks into the dealership is an opportunity for an appraisal. Maximize these opportunities for trade-ins and sales!

6. 🔊 Chase the Volume: Put the pedal to the metal on appraisal volumes, 'look to book' ratios notwithstanding.

7. 🏆 Trade-In Triumph: Rev up the number of deals that include a trade-in appraisal. Keep your sales staff from waving the caution flag on trade-ins!

8. 💻 Data Driven: Stay in the fast lane by continually monitoring and analyzing your metrics. Feel free to switch gears based on your insights.

9. 🎙️ Team Talk: Keep the conversation flowing in your team for a well-oiled machine of continuous improvement.

10. ⚖️ Strike a Balance: Put your foot down on appraisal volume and 'look to book' ratios, but don't let the latter pump the brakes on appraisal pursuits.

Telling it like it is – 🎶 Take a look, it’s in a book, it’s All Things Used Cars 🎶

/Positivity

Do you have a story showing dealerships' positive impact on their community? Let us share it!

TOGETHER WITH CALLREVU

The 411 of GA4

Join us on June 28th at 2 pm ET for an exclusive webinar where we delve into the world of Google Analytics 4 and explore its massive potential for retail automotive.

AUTOMOTIVE

Motor Morsels: Batteries, Anxiety, Loan-Layoffs, Wireless Charging

⛏️🧂🗿

Dig Deep. Lithium producers warn that due to mine permitting delays, staff shortages, and inflation, they may struggle to meet escalating demand driven by aggressive EV plans. Lake Resources and Albemarle, the world's largest lithium producer, project a shortage of lithium supplies.

Think Salty. However, China's CATL is developing sodium-ion batteries that offer a cheaper, more abundant, and safer alternative to lithium-ion, expected for production in 2023.

Get Solid. Meanwhile, Toyota, Nissan, and Tesla are working on solid-state batteries that are smaller, lighter, charge faster, and have more range. Toyota's Lexus LFA is expected to be the first EV with this technology.

Who knows, we may be driving cars with canvas sails this time next year.

✂️💰🤷‍♀️

Discounts aren't everything. China extends EV tax incentives until 2027 amid slow economic growth. Despite projected consumer savings of $72.43 billion, adoption faces hurdles from mileage anxiety and inadequate charging infrastructure. Experts emphasize the need for widespread, affordable charging stations to bolster sales. Beijing pushes for increased support for new energy vehicles.

Investing in eggs when you need a better basket. Classic mistake.

📈🏦💵

More money! Ford received a $9.2 billion loan from the U.S. Department of Energy to support the construction of three EV battery factories, marking the biggest governmental support to an automaker since the 2009 bailouts.

📉👷😔

Fewer jobs? Concurrently, amid transitioning to EVs and aiming to cut $3 billion in costs by mid-decade, Ford is preparing for another round of layoffs affecting employees across its divisions.

These news pieces are routine these days, but they sting next to one another.

🗡️🔌🚗

Cut the Cord? Tesla has shown interest in acquiring Germany-based wireless charging startup Wiferion, which could expedite the launch of Tesla's own EV wireless charger. Wiferion's expertise in inductive charging for industrial robots and electric vehicles can benefit Tesla's manufacturing process.

Call us old-fashioned, but lightning belongs in wires or clouds, not just floating around in the garage.

TL; Dr – Batteries are complicated, Chinese drivers are worried about range, Ford got a loan and is preparing for more layoffs, and Tesla eyes wireless charging.

CULTURE

Fight! Fight! Fight!

🥊Elon Musk is no stranger to getting into trouble on Twitter, but this time he may have to put his karate pants on to get out of it. 💪

🐦A thread of Tweets regarding Mark Zuckerberg led to talk of a "Cage Match," which Zuck stoically showed interest in with "send me location." 🗺️

😕While we seriously doubt this fight will ever happen, it is a lesson in generating online buzz by punching above... or, in Musk's case, below your weight class. 👊

🥧So, consider challenging your local rival to a pie-eating contest or something. Give folks something to talk about. 😮

Telling it like it is – Anybody wanna see Paul and Kyle fight Mr. Beast?

Quick Hits

• The new Final Fantasy game is out and has a unique feature to keep short-attention-span gamers (or just parents, TBH) engaged with the story. 🎮

• White House inches closer to price disclosure guidance for cable firms. 📺

• Amazon drops another $100M in AI investments. 🤖

History

• 1906: The first Grand Prix motor race is held at Le Mans.🏎️

• 1962: The first Motel 6 opens in the United States.🛌

• 1997: J. K. Rowling publishes the first of her Harry Potter novel series. 🧙‍♀️