Kimberly Long - The dealership, located in Greeley, Colo., could have easily become a casualty of the credit crisis and recession like so many other businesses. In April 2009, the bank holding the dealership’s line of credit failed and was taken over by the FDIC, freezing that line of credit. “We’ve been operating without a line of credit. It’s been very interesting,”
Kimberly Long - The name Sonic Automotive is well-known to anyone in the industry, and with good reason. It is the third-largest automotive group in the country with 153 dealerships and more than 30 collision centers and a Fortune 300 company. Carrying more than 30 different vehicle brands, its reach stretches literally across the country, from California to the Carolinas.
Kimberly Long - With 15 used car stores in Michigan and Illinois and about 650 employees, RightWay Automotive Credit as it exists today is a far cry from where it began.
Kimberly Long - Riding out the rough waves of the economy hasn’t been a breeze for anyone, but Phil Smith Acura in Pompano Beach, Fla., seems to be weathering the storm quite nicely. The store, which has been a part of Phil Smith Automotive Group for three years, focuses intently on attracting and engaging customers online.
Kimberly Long - It’s a question dealers ponder daily: How do I make my store stand out in the crowd? Everyone wants to convince customers to buy from their store instead of the guy down the road; that’s certainly nothing new.
Kimberly Long - Several years ago, any dealership that had an online strategy was looked upon as forward-thinking and cutting-edge. Today, however, the Internet has become an advertising staple for almost all dealers. Indeed, most in the industry now believe online advertising is an absolute necessity for success.
Kimberly Long - While most businesses have acknowledged the influence of the Internet on modern-day commerce and have embraced it as a powerful advertising medium, it’s still difficult for some auto dealers to imagine not keeping more conventional methods of television, radio and print as part of their advertising and marketing strategies.
Kimberly Long - “It was one of those middle-of-the-night ideas,” said Amy Schlueter, vice president of Schlueter Automotive Group in Waterloo, Ontario, referring to their innovative new campaign, the Twitter Test Drive.
Kimberly Long - Nearly every dealership these days seems to have some kind of online presence, although to varying degrees. Some have just a Web site, while others have a Web site and listings on sites like AutoTrader.com or cars.com.
CarBiz CEO Carl Ritter did not set out to launch a chain of buy here pay here stores. His company began as something much different.