🧐 Practicing Perfect Appraisal Processes

TOGETHER WITH

There are moments each week when we record our quite energetic daily podcast that we simply wonder to ourselves, how much coffee is too much coffee…anyone have a good answer for us???

Keep Pushing Back-Paul, Kyle, & Chris

DEALERS

Perfecting Your Appraisal Process

We learned during last week’s All Things Used Cars how many of our dealer friends have perfected their appraisal strategies to ensure a win-win for both dealer and customer. Here are a few of their noteworthy tips:

🏁 Start the appraisal process right away.

• From the moment the customer enters the showroom, make sure everyone in the dealership makes them feel very welcome. Provide a world-class meet and greet.

• Over-offer them coffee, drinks, snacks. Nearly annoy them with how generous your dealership is.

🤝 Create favor rather than friction.

• The interaction should be overwhelmingly positive whether the customer is with you during the walk-through or not. Build them up and compliment their vehicle (even if it looks and smells like an actual dumpster fire).

• Let the customer know that you’re on the same team. Adamantly convey that you want to get them the most money for their trade. You want your customer to feel they are in a better position at your dealership than anywhere else they’d take their car.

• In the past, many have been taught to devalue a customer’s used car in order to offer as little as possible. This often creates tension with the customer who can end up feeling exploited and undervalued. You’re less likely to get a positive result from a negative interaction.

🛠️ Use tools to help you accurately calculate the value.

• Many factors can actually increase the value of a customer’s car such as an upgraded stereo or a high-demand paint color. Bring those to the customer’s attention first to help further convey that you want to get them the best price for their car.

• Always have and share your data with the customer. Transparency can help win the deal.

🔍 Be thorough in your inspection.

• This is not where you want to be cutting corners. Test all of the power features, look underneath, test drive, etc. Look over every inch.

• ATUC also provided plenty more tips on what to keep your eyes peeled for during their 100th episode. You can check it out here.

🎯 Mitigate your misses to reduce your errors.

• Watch out for things like overpaid trade-ins and missed reconditioning costs. Keep track so that you can identify issues early and always perfect your process.

Listen to the full replay on Clubhouse here!

Telling it like it is - Practice makes perfect, so go appraise the stuff in David Long’s house. Don’t worry. He’s used to it.

TOGETHER WITH DIGITAL DEALER

Ready For Digital Dealer?

Digital Dealer is practically right around the corner, and if you live in Tampa, it is literally right around the corner.

Join the industry’s best and brightest at Digital Dealer Tampa! Turbocharge your dealership with insights from industry leaders, and explore the interactive and innovative expo to witness the future of automotive through today’s cutting-edge technology!

The ride of a lifetime awaits. Beep, beep! Save your spot TODAY at Digital Dealer Tampa and use code “ASOTU300” for $300 off your ticket!

AROUND THE ASOTU-VERSE

More Than Cars

Celebrate with us in Tampa on May 2 at 6:30 pm for more than a docu-series premiere, but the launch of a new genre in automotive!

Who doesn't love a peek behind the curtain? Like "Dirty Jobs" or "Bar Rescue" helped viewers see the fast-paced human side of industries, ASOTU's "More Than Cars" will bring the audience into the dealership for the full story of retail auto.

Join us for a red carpet event, refreshments, and the live premiere of "More Than Cars" after the first full day of Digital Dealer in Tampa.

AUTOMOTIVE

Goodbye Bolt, Hello Google.

🚫🚙✌️

General Motors discontinued its spring-fling with lightning. They announced they will end Chevy Bolt EV and EUV production at the end of the year, shifting focus to Ultium-based electric vehicles to drive future growth and meet evolving market demands. The company also increases its full-year profit forecast due to strong pricing and demand, signaling a positive outlook for the automaker and reflecting robust market conditions.

The Bolt EUV just got here and it’s already leaving? Was it something we said?

📱🗝️🛎️

BMW is expanding its Digital Key Plus feature to Google Pixel and Samsung Galaxy devices. Previously exclusive to Apple devices, the expansion allows a broader range of smartphone users to lock, unlock, and start their vehicles using their phones. The company says Digital Key Plus displays its commitment to advancing automotive tech.

Cool cool, but will the car still go *beep beep* when we press unlock on our phone? The Applebee’s parking lot isn’t getting any smaller.

🐣👍🧥

Babies should not drive, but the 2023 Microlino is a baby car for grown-ups. Funny how that works. Test drivers are saying positive things. Although it has a limited range, it appeals to people because of its unique style and, we assume, ability to be stored in a coat closet. With affordability on many minds, it is a perfect fit for city folks looking to go carbon-neutral within a budget. It's really small, y'all.

Sure sure, we are going a little hard on the size joke here. Our sense of humor is small today… like somebody else we know.

⛏️🔬🐈

Chile's recent lithium policy changes have pressured automakers to diversify their supply chains for this critical battery component. As the largest lithium producer, Chile's move has highlighted the vulnerability of relying on a single source. Some companies, Porsche, Mercedes, and GM, are already considering diversifying technologically by investing in silicon anode batteries, which could increase energy density, charging speed, and range.

Why not spend all that time and money making something easy to get into a car power source? Like dirt or cat hair?

TL; DR - GM announced the end of the Bolt, BMW expands keyless start app options, a look at the “Micro”lino, and diversifying sources and tech.

TECHNOLOGY

First Private Cargo Mission To the Moon

⭐️🚀 Colonizing the stars is more work than just blasting off and meeting aliens. There is a lot of math, waiting, and, well, failure.

Ispace, a Japanese lunar company, launched a mission to deliver a load of cargo to the moon back in December, and yesterday it successfully touched down on the cheesy surface.

While the safe landing is an amazing milestone, the mission encountered an issue. The lander stopped communicating with Earth-side technicians losing the multi-country multi-company cargo payload.

🌕💔 So if you stop by the Atlas Crater sometime, check on our boy for us.

Telling it like it is - If they had set out with the goal of landing on the moon, this would be a raving success story. Don’t forget the three steps forward when taking two steps back.

Quick Hits

• McDonald’s reports more customers and sales despite higher prices. 🍔

• India on track to overtake China as most populous country by the end of April. 👶

• Contrary to our independent research, studies suggest french fries may be linked to depression. 🍟

History

• 1948: Ford begins 1949 model production featuring first post-war Big 3 Design.

• 1962: NASA's Ranger 4 spacecraft crashes into the Moon, the same day the British space program launches its first satellite, the Ariel 1.

• 1981: Dr. Michael R. Harrison of the University of California performs the world's first human open fetal surgery.

• 1986: The Chernobyl disaster occurs in the Ukrainian SSR.