April 28, 2011
AutoNation First Quarter Revenue Up 17%
Congratulations to AutoNation and the announcement of their successful Q1 results. AutoNation is America’s largest automotive retailer for new and used vehicles and reported a record net income for their first quarter of 2011. New vehicle unit sales increased 23% overall.
While this is exciting news for AutoNation it is also good news for the automotive industry at large, as those results are reportedly in line with others across the nation. Despite harsh economic times, the crisis in Japan, and continuously rising gas prices, sales and revenue are seeing a huge increase over last year.
Mike Jackson, Chairman and Chief Executive Officer for AutoNation, said:
“While the underlying recovery in consumer demand for autos remains on track in the United States, due to Japanese supply constraints throughout the remainder of 2011, we are revising our planning assumption for 2011 full-year U.S. industry new vehicle sales downward from 12.8 million units to mid-12 million units. Based on current information, we see significant reductions in vehicle shipments from Japanese manufacturers through year-end, with the resumption of normal shipment levels in early 2012.”
Mr. Jackson added:
“Our diversified business model is resilient and adaptable. We are confident we can manage through the challenges presented by Japanese product constraints. We also continue to be optimistic about the long-term recovery for the U.S. auto market.”
Read the full article from PR Newswire here.
Congratulations again to AutoNation and good luck heading further into Q2 and the remainder of 2011.
October 25, 2010
Consumer Trends in the Chat Center
As a leading automotive digital marketing services firm, the hub of activity at Outsell is in the Chat Center dealing directly with our dealerships’ customers.
Some of the trends over the past year have been typical, such as customers looking to confirm availability on certain models, especially new models, and to get the best deal on pricing. The third most common question coming into chat is whether or not the dealership will assist a customer with poor or no credit, and if so, what types of programs are offered.
“Even if customers are doubtful they will receive help due to a poor financial situation, those chatters are the most likely to offer their information as potential leads in hopes of whatever assistance might be given,” said Customer Interaction Specialist, Sarah Tyler. Many people new to the Chat Center find this trend odd, but it is becoming a more and more common occurrence.
Economic times may still be difficult for many consumers, but financial lenders are finding other ways to assist with bad credit car loans. A recent article by Free Press Release Distribution said:
“With bad credit car loans, the financial lenders would not [always] evaluate the credit status of borrowers. However, the lenders might demand a collateral for the money offered as loan. This is a good way to secure the loan as the newly bought car itself can act as collateral.”
Customers consistently enter chat in the hopes that something similar can be worked out for them, and that they can avoid the usual large down payment or substantial APR associated with a bad credit car loan.
General Motors’ recent acquisition of the Texas-based subprime lender AmeriCredit on September 30th, now known as GM Financial as of October 1st, may make it even easier for some financially strapped car buyers to qualify for the loans they need.
GM’s chief financial officer, Chris Liddell, explained that:
“With AmeriCredit providing us niche capabilities in leasing and non-prime financing, along with the continued strong support of Ally Financial and others for prime retail and dealer financing, we’ve set up a very competitive solution for our financing needs…”
The automotive market may not be as closed to customers with poor credit as once believed, and Outsell anticipates that customers seeking bad credit car loan assistance will continue to be a large presence in our daily chats.