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Auto sales-facts

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  • 1. Facts About Auto Sales What you think vs. What is real “We MakeYou Profit”
  • 2. Facts About Auto Sales
  • 3. Percentage of Customers that Decided that They Were Going to Buy aVehicle Before Leaving Home Facts About Auto Sales
  • 4. Percentage of Customers that Decided that They Were Going to Buy aVehicle Before Leaving Home 85% Facts About Auto Sales
  • 5. Facts About Auto Sales
  • 6. Percentage of Customers Considering Fewer Than 3 Makes of Vehicles Prior to Shopping Facts About Auto Sales
  • 7. Percentage of Customers Considering Fewer Than 3 Makes of Vehicles Prior to Shopping 82% Facts About Auto Sales
  • 8. Facts About Auto Sales
  • 9. Percentage of Customers Who Told a Sales Person They Were “Just Shopping” Facts About Auto Sales
  • 10. Percentage of Customers Who Told a Sales Person They Were “Just Shopping” 72% Facts About Auto Sales
  • 11. Percentage of Customers Who Told a Sales Person They Were “Just Shopping” 72% Facts About Auto Sales So how do we meet ‘em and greet ‘em?
  • 12. Facts About Auto Sales
  • 13. Number of Actual Hours The Average Customer Spends Shopping for a NewVehicle (Including Internet) Facts About Auto Sales
  • 14. Number of Actual Hours The Average Customer Spends Shopping for a NewVehicle (Including Internet) 10 Facts About Auto Sales
  • 15. Facts About Auto Sales
  • 16. Average Number of Actual Shopping Days a Customer Spends A Dealerships Facts About Auto Sales
  • 17. Average Number of Actual Shopping Days a Customer Spends A Dealerships 4 Facts About Auto Sales
  • 18. Facts About Auto Sales
  • 19. Average Number of Days a Customer Takes From First Dealer Visit Until Purchase Facts About Auto Sales
  • 20. Average Number of Days a Customer Takes From First Dealer Visit Until Purchase 14 Facts About Auto Sales
  • 21. Facts About Auto Sales
  • 22. Percentage of Customers Who Buy On FirstVisit to a Dealership Facts About Auto Sales
  • 23. Percentage of Customers Who Buy On FirstVisit to a Dealership 20% Facts About Auto Sales
  • 24. Percentage of Customers Who Buy On FirstVisit to a Dealership 20% Facts About Auto Sales About your closing ratio?
  • 25. Facts About Auto Sales
  • 26. Percentage of Customers Who Bought Within 3 Days From the Day They Began Looking Facts About Auto Sales
  • 27. Percentage of Customers Who Bought Within 3 Days From the Day They Began Looking 57% Facts About Auto Sales
  • 28. Facts About Auto Sales
  • 29. Percentage of Customers That Come With 3rd Party Information...WHY? Facts About Auto Sales
  • 30. Percentage of Customers That Come With 3rd Party Information...WHY? 76% Facts About Auto Sales
  • 31. Percentage of Customers That Come With 3rd Party Information...WHY? 76% Facts About Auto Sales So what would be the next question we ask them?
  • 32. Facts About Auto Sales
  • 33. Number of Dealerships The Average Customer Shopped Prior To Making a Purchase (Including Internet) Facts About Auto Sales
  • 34. Number of Dealerships The Average Customer Shopped Prior To Making a Purchase (Including Internet) 5 Facts About Auto Sales
  • 35. Facts About Auto Sales
  • 36. Percentage of Customers Not Followed-Up When They Left Dealerships Without Making a Purchase Facts About Auto Sales
  • 37. Percentage of Customers Not Followed-Up When They Left Dealerships Without Making a Purchase 90% Facts About Auto Sales
  • 38. Facts About Auto Sales
  • 39. Percentage of Customers Who Will Become “Be-Backs” With a Good Follow-Up Program Facts About Auto Sales
  • 40. Percentage of Customers Who Will Become “Be-Backs” With a Good Follow-Up Program 33% Facts About Auto Sales
  • 41. Facts About Auto Sales
  • 42. Percentage of Customers Who Return to the Store (Be-Backs) Who Purchase aVehicle Facts About Auto Sales
  • 43. Percentage of Customers Who Return to the Store (Be-Backs) Who Purchase aVehicle 67% Facts About Auto Sales
  • 44. Facts About Auto Sales
  • 45. Number of Customers The Average Sales Person Sees and Talks Face to Face Each Day Facts About Auto Sales
  • 46. Number of Customers The Average Sales Person Sees and Talks Face to Face Each Day 2.7 Facts About Auto Sales
  • 47. Facts About Auto Sales
  • 48. Percentage of Selling Situations the Sales Person Properly Established Rapport, Qualified and Controlled the Prospect Facts About Auto Sales
  • 49. Percentage of Selling Situations the Sales Person Properly Established Rapport, Qualified and Controlled the Prospect 18% Facts About Auto Sales
  • 50. Facts About Auto Sales
  • 51. Percentage of Customers Who Did Not Feel They Got a Good Product Presentation and Demo Ride Facts About Auto Sales
  • 52. Percentage of Customers Who Did Not Feel They Got a Good Product Presentation and Demo Ride 88% Facts About Auto Sales
  • 53. Facts About Auto Sales
  • 54. Percentage of Customers Who Want to Drive theVehicle Before They But It Facts About Auto Sales
  • 55. Percentage of Customers Who Want to Drive theVehicle Before They But It 99% Facts About Auto Sales
  • 56. Facts About Auto Sales
  • 57. Percentage of Customers Who Purchased Within 4 Hours After Shopping at the First Lot Facts About Auto Sales
  • 58. Percentage of Customers Who Purchased Within 4 Hours After Shopping at the First Lot 38% Facts About Auto Sales
  • 59. Facts About Auto Sales
  • 60. Percentage of Customers Who Purchased OnThe Spot When They Did Receive a Good Product Presentation and Demonstration Facts About Auto Sales
  • 61. Percentage of Customers Who Purchased OnThe Spot When They Did Receive a Good Product Presentation and Demonstration 50% Facts About Auto Sales
  • 62. Facts About Auto Sales
  • 63. Percentage of Customers Who Had No Specific Plan to From the Same Sales Person or Dealership Facts About Auto Sales
  • 64. Percentage of Customers Who Had No Specific Plan to From the Same Sales Person or Dealership 88% Facts About Auto Sales
  • 65. Facts About Auto Sales
  • 66. Percentage of Customers Who Could Not Recall Sales Person’s 12 Months After the Sale Facts About Auto Sales
  • 67. Percentage of Customers Who Could Not Recall Sales Person’s 12 Months After the Sale 82% Facts About Auto Sales
  • 68. Facts About Auto Sales
  • 69. Percentage of Average Dealership’s Total Vehicle Sales Made to Customers New to That Dealership Facts About Auto Sales
  • 70. Percentage of Average Dealership’s Total Vehicle Sales Made to Customers New to That Dealership 55% Facts About Auto Sales
  • 71. Facts About Auto Sales
  • 72. Percentage of Owners Contacted About Purchasing AnotherVehicle After Delivery Facts About Auto Sales
  • 73. Percentage of Owners Contacted About Purchasing AnotherVehicle After Delivery 10% Facts About Auto Sales
  • 74. Percentage of Owners Contacted About Purchasing AnotherVehicle After Delivery 10% Facts About Auto Sales 90% Not followed-up with...sound familiar?
  • 75. Facts About Auto Sales
  • 76. Percentage of Time the Average Sales Manager Spends Working Directly With The Sales Force Facts About Auto Sales
  • 77. Percentage of Time the Average Sales Manager Spends Working Directly With The Sales Force 18% Facts About Auto Sales
  • 78. Percentage of Time the Average Sales Manager Spends Working Directly With The Sales Force 18% Facts About Auto Sales So what’s the last question to ask the customer?
  • 79. Facts About Auto Sales What is Happening in Our Showrooms?
  • 80. • Only 20% Will Buy on the FirstVisit to a Dealership - 80%Won’t.What’s your closing ratio again? • But 33% Will Return to the Dealership (be-backs) With Good Follow-up • And 67% of Customers Who Do Return (be-backs) Will Purchase Facts About Auto Sales What is Happening in Our Showrooms?
  • 81. • Only 20% Will Buy on the FirstVisit to a Dealership - 80%Won’t.What’s your closing ratio again? • But 33% Will Return to the Dealership (be-backs) With Good Follow-up • And 67% of Customers Who Do Return (be-backs) Will Purchase Facts About Auto Sales What is Happening in Our Showrooms? 17% Opportunity
  • 82. Facts About Auto Sales
  • 83. Average Sales Manager Spends Only Facts About Auto Sales
  • 84. Average Sales Manager Spends Only 18% Facts About Auto Sales
  • 85. Average Sales Manager Spends Only 18% Facts About Auto Sales Of the Day Working Directly With the Sales Force!
  • 86. Facts About Auto Sales Closing Ratio - 3 Best Questions 1. Are you just shopping? 2. Are you looking for the best deals? 3. Can I introduce you to our Sales Manager?
  • 87. Facts About Auto Sales Follow-up - What is 5% Worth? Take Total Retail Sales - Ex.: New + Used = 100 20% Closing Ratio - Multiply by 4 = 400 Unsold 400 x 5% = 20 units 20 x ATG $2,000 = Additional $40,000 $40,000 x 12 = $480,000 annually Ex.: 100... your sales as a % x the $480K?
  • 88. Facts About Auto Sales Follow-up - What is 5% Worth? Take Total Retail Sales - Ex.: New + Used = 100 20% Closing Ratio - Multiply by 4 = 400 Unsold 400 x 5% = 20 units 20 x ATG $2,000 = Additional $40,000 $40,000 x 12 = $480,000 annually Ex.: 100... your sales as a % x the $480K? What if your closing ratio is less than 20%?
  • 89. Facts About Auto Sales What if we don’t close a sale today? This 80%! • When should we follow-up? • How should we follow-up? • Who should follow-up? • Why? Because...
  • 90. Facts About Auto Sales What if we don’t close a sale today? This 80%! • When should we follow-up? • How should we follow-up? • Who should follow-up? • Why? Because... 33% Will Be Back & 67% of Them Will Buy 17% More Sales!