www.am-online.com December 2014 £8.00
M A R K E T A N A LY S I S / P 12
AM100 financial update
AUTOMOTIVE MANAGEMENT
‘WHY WE DO CAR DEALS ON THE DAY’ Macrae & Dick’s MD on building great customer service in a territory the size of Switzerland / P40
R CAAL ED CI USSPE
FORECA ST / P27
STOCKING / P33
BEST PR ACTICE / P52
Are used car values heading for another crash in 2015?
How increasing stock turn can boost your profits
Expert advice from AM’s Used Car Market Conference
WELCOME
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OUR EXPERT CONTRIBUTORS
It’s time dealers took a fresh look at used cars
C
armakers’ targets and incentives have driven much of their dealers’ focus onto new car sales in 2014, but the used car market, still enjoying high values, has remained a critical profit centre nevertheless. However, our latest poll of dealers (page 55) suggests many expect their used car margins to be squeezed. With most retail sales generating a part-exchange, the decision whether to refurbish and retail or trade it out can be difficult. Some dealers told AM they’ve been making £400 profit per unit simply putting trade-ins through auction, yet our feature on page 47 shows that other dealers see greater value in refurbishment to refill the forecourt. Sourcing replacement retail-ready stock has been an issue since the recession ended and days in stock have extended as a result. Yet now that the market is seeing a little more volume, the experts we’ve spoken to in our stocking feature (page 33) agree that a faster turn of cars could drive profits up. Isn’t it time to review that stocking policy? One dealer group which has to ensure its sales process is slick is Macrae & Dick, the subject of our Face To Face on page 40. Managing director Andrew Grzesinski is running a fascinating and very profitable business, one which certainly goes the extra mile for its customers in the north of Scotland, even if there’s a ferry crossing or B&B stay involved. One quirk of Macrae & Dick selling cars in a territory the size of Switzerland is that it operates an American-style model. Deal on the day, as Grzesinski calls it. We’d call it a glimpse of the future.
Rupert Pontin is head of valuations at Glass’s. With more than 29 years’ experience in the motor trade, he has worked for companies including BCA and Car Shop, as well as running his own successful independent used car business. In this issue (p31), he assesses the impact of soaring new car registrations on ‘late plate, low mileage’ car values. Professor Jim Saker As director of the Centre of Automotive Management at Loughborough University’s Business School, Saker is a key figure behind the drive for management recognition and skills in the motor retail sector. This month (p38), he argues that dealers and carmakers have not yet cracked how to market to digital-savvy youth.
The editorial team Email: am@bauermedia.co.uk Website: www.am-online.com Twitter: @amchatter LinkedIn: am-online.com/linkedin
AM Awar ds 2015 b ook your tic today at kets am-award s.co.uk
Jeremy Bennett Editor
Tim Rose Managing editor
Danielle Bagnall Senior reporter
February 19 2015 am-online.com December 2014 3
In this issue December 2014 33 PICK A WINNER HOW TO BUILD A BETTER USED CAR STOCKING PROFILE
40
FACE TO FACE MACRAE & DICK MD ANDREW GRZESINSKI
Your news
7
News digest This month’s round-up includes Avril Palmer-Baunack’s new automotive acquisitions venture; Vertu takes a tough line on FCA compliance; SsangYong signs up 10 new dealers; and Honda’s franchised dealer and service network again tops the league for servicing retention.
Market intelligence
12 18
AM100 autumn update The UK’s improved economy and boom in new car registrations are reflected in dealers’ official financial figures, but the recovery highlights flaws in the car manufacturers’ ‘supply push’ model.
New car registrations October’s 14.2% boost takes year to date past two million mark.
4 December 2014 am-online.com
20 23
Used car values October’s values continue the fall started in September as NAMA warns that November looks to be as demanding as ever.
31
33
Build a better used car stocking profile
38
View from the business school
40
Face to face: Macrae & Dick
47
How dealers can maximise profit from part-exchanges
52
AM Used Car Market Conference Report
Finance Dealer groups have expressed concern at a lack of consistency among lenders over how to introduce compliance with new FCA regulations.
Analysis
27
Insight
Are used car values on the way to another crash? Growth in used car values has slowed to a standstill. We ask our market experts if dealers should be worried about 2015.
Used car values Glass’s Rupert Pontin assesses the impact of soaring new car registrations on ‘late plate, low mileage’ car values.
Modern dealers can drive profits with new analysis tools, better market data and more finance options.
Dealers and carmakers have not yet cracked how to market to digitalsavvy youth. Managing director Andrew Grzesinski explains how a site with a territory the size of Switzerland ‘does deals on the day’ for used cars.
Assessing, refurbishing and remarketing older stock can still boost a dealer’s profit margins.
Analysis and advice from our experts
For the latest motor retail industry news, visit am-online.com Sign up to get AM news daily by email: am-online.com/newsletter
DEALERS AND SUPPLIERS IN THIS ISSUE:
59
DMS AND CRM DRIVE MORE EFFICIENCY WITH IT
64
ŠKODA FABIA TURNING ITS BACK ON BUDGET
on engaging the used car buyers of the future.
55 59
AM Poll
More than three-quarters of AM readers believe their margins on used cars will decrease in 2015, according to our latest poll.
Drive more efficiency with IT systems
Management information systems can streamline processes and increase profits and customer satisfaction in all areas.
Showroom
64
Škoda Fabia
66
Nissan Pulsar
The new Fabia supermini is not cheap, but Škoda is bullish about its prospects in a crowded sector.
Poor sales of its previous hatchbacks drove Nissan to fight back with crossovers. Now it’s also back in the traditional C-segment.
67
Mazda3
68
Volkswagen Golf
69
Seat Ibiza
Mazda’s Skyactiv-G engine has shunned the low-capacity, turbocharged route taken by rivals. Was it a wise decision?
The Golf’s adaptive cruise control should be a significant selling point in the showroom. The Spanish brand is pumping out well equipped special editions to help dealers tempt buyers into their showrooms this year.
Coming soon
70
In January’s issue – published Dec 19
Face to face with Lookers chief executive Andy Bruce and managing director Nigel McMinn; how dealers can navigate the minefield of motor retail legislation; and the Audi TT reviewed.
Aprite .....................................................................7 Auto Trader................................................ 35, 52 Automotive Compliance ................................24 Autorola ..............................................................49 BCA.......................................................................49 Black Horse................................................18, 23 BMW Group Financial Services..................24 Bowker................................................................10 Cambria Automobiles ....................................52 CAP................................................................27, 34 CDK UK ...............................................................60 Close Brothers Motor Finance....................24 Cooper Solutions..............................................61 DSG Finance......................................................23 Eden Group........................................................47 Epyx......................................................................49 FCA .........................................................................7 Ferrari ...................................................................7 Fiat ..........................................................................7 FLA .......................................................................25 Glass’s..........................................................28, 60 Google..................................................................54 Halfords Autocentre .......................................10 Harwoods Group................................................9 Haversham Holdings........................................7 Hepworth Honda..............................................48 Hitachi Capital...................................................23 Honda.....................................................................9 IMI............................................................................7 John Banks Group...........................................34 Lifestyle Europe...............................................48 Lister Motor Company.....................................9 Lookers ...............................................................34 Macrae & Dick ..................................................40 Marketing Delivery..........................................59 Martec Europe..................................................53 Masters Mitsubishi............................................7 Motorclean.........................................................47 NextGear Capital .............................................34 NFDA....................................................................54 Northridge Finance.........................................24 Performance In People .................................53 Phoenix Car Company ...................................34 Pinewood.....................................................54, 61 Revive...................................................................47 Selsia....................................................................47 Shoreham Vehicle Auctions.........................49 SMMT...................................................................18 SsangYong............................................................9 Stoneacre ...........................................................10 Suzuki ..................................................................10 Tesla.....................................................................10 Thurlow Nunn...................................................34 Vertu Motors ............................................7, 9, 34 Volkswagen........................................................49 VRA.......................................................................47
am-online.com December 2014 5
NEWS DIGEST
T H E N E W S YO U C A N ’ T A F F O R D T O H AV E M I S SE D
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F O R D A I L Y N E W S , V I S I T: w w w.am-online.com T O g E T A M ’ S F R E E D A I L Y N E W S L E T T E R , V I S I T: w w w.am-online.com/newsletter FOLLOW AM ON TWITTER: @amchatter
Honda Honda’s franchised dealer and service network has again taken the top spot for servicing retention.
NEW bUSINESS
Palmer-baunack launches automotive acquisition group A new company has been launched by Avril Palmer-baunack and investment management firm Marwyn that aims to acquire and develop large businesses in the automotive sector. Haversham Holdings announced its intention to raise £30 million in funds, through a flotation on AIM, which will be used for due diligence and operating capital prior to a subsequent acquisition. Haversham said it has the support of leading institutional investors, including Invesco, Artemis, Aviva and Schroders. With executive chairman Palmer-Baunack, a former chief executive of Universal Salvage and Autologic and briefly non-executive chairman of Stobart Group, and James Corsellis and Mark Brangstrup Watts of Marwyn on its board, it wants to take over businesses valued between £250m and £1bn in the UK and European automotive, support services, leasing, engineering or manufacturing sectors. Haversham believes these sectors offer attractive opportunities for consolidation and potential value from operational supply chain efficiencies.
VERTU MOTORS
An internal audit of FCA compliance led car dealer Vertu Motors to temporarily halt sales of gAP insurance at two of its dealerships in September. Michael Sherwin, Vertu Motors’ finance director and chairman of its compliance committee, told AM: “If we have a poor internal audit result for a dealership in terms of their compliance with the FCA paperwork I switch them off from being able to sell GAP insurance. “I did it for two dealerships… which was hard for them because it was September. That’s what you have to do to make it clear to colleagues that this stuff is real and matters, and to comply with the regulation.” Once the dealerships had proven they rectified the issue identified by the audit then sales were allowed to resume, under close monitoring by Vertu’s audit team.
LICENSINg
The Institute of the Motor Industry (IMI) is calling for licensing of the automotive retail sector following research revealing almost three quarters of motorists think it already exists. Of the 2,600 British motorists surveyed, 71% said they believed anyone working on a car commercially had a licence to do so. However, there is currently no regulation governing individuals in the motor industry. An estimated 148,000 mechanics work without any verifiable care standard. The research, conducted through Vital Research and Statistics, also found 59% of respondents would not let someone who didn’t know what they were doing work on their car. However, just 10% knew how to check a technician’s qualifications. Some 90% of the trade is in favour of licensing and the IMI is seeking meetings with the leaders of the main political parties before the general election to push the case for licensing. The IMI says UK consumers are unaware of how vulnerable they are and believe the Government is taking care of their safety and their rights.
APRITE
Aprite has acquired two Nissan dealerships in London. The centres are in Hanwell and Mill Hill and have been acquired from West London Motor Group. They represent Aprite’s first move into the city. Until now, it has focused on the South West of London, the West Midlands and around Manchester. Aprite (GB) is a subsidiary of Nissan Motor GB that trades as West Way Nissan. It now runs 12 Nissan dealerships.
10
Tesla Tesla has opened a showroom in Birmingham, the manufacturer’s fourth in the UK in just 12 months.
IN bRIEF VERTU MOTORS Vertu Motors is to open its fifth Renault and Dacia car dealership, in Nottingham, early next year. The dealer group has acquired the lease on a former Co-Op Motor Group Renault site at Haydn Road.
MA STERS Masters Mitsubishi has relocated from a showroom it shared with Mazda in Upper Elmers End Road, Beckenham, to a refurbished site in Wickham Road, Shirley.
F I AT Pricing for Fiat’s new crossover SUV, the 500X, will start at £17,595 for the 1.4 MultiAir II 4X2 ‘Opening Edition’ when order books open in December. However, buyers will be able to get one from £14,595 when it reaches UK dealerships in the second quarter of 2015.
FCA The Financial Conduct Authority has fined three former Swinton Group executives £928,000 after they allowed a culture to develop that pushed for higher sales and profits without regard to the impact on the firm’s customers. The FCA banned Peter Halpin, the insurer’s former chief executive, from acting as CEO of a financial services firm. Former finance director, Anthony Clare, and marketing director, Nicholas Bowyer, are banned from performing functions of significant influence at financial services firms.
FERRARI Fiat Chrysler Automobiles (FCA) has announced it is to divest from Ferrari and list a 10% stake on the stock market. The remaining 90% would be given to FCA shareholders.
am-online.com December 2014 7
NEWS DIGEST haRWooDS gRoUP
harwoods group is to build a new Jaguar and Land Rover car dealership at Manor Royal, crawley, capable of selling 2,000 cars a year. The 6.4-acre site, designed by HNW Architects of Chichester, will have a central entrance flanked by separate eight-car Jaguar and 10-car Land Rover showrooms, each with a vehicle handover bay. A covered drive-through service dropoff lane runs between the showrooms and they share a service workshop. It will conform to Jaguar Land Rover’s latest corporate identity standards. It will also house a 1,467sq m SMART repair facility, display spaces for more than 150 cars, and 80 customer parking spaces, including four vehicle charging points. The dealership, described as a flagship for Harwoods Group and central to its JLR territory, is expected to sell 1,000 new Jaguars and Land Rovers a year from 2018 plus 1,000 used cars.
T o R E a D a M ’ S D a I L Y n E W S L E T T E R , V I S I T: w w w . a m - o n l i n e . c o m / n e w s l e t t e r
honDa
honda’s franchised dealer and service network once again leads the way for retaining customers for routine servicing in the UK. honda has held the top spot for servicing retention since 2006. The 2014 Castrol Professional Car Servicing & Repair Trend Tracker report found that 38% of all Honda owners surveyed took their car back to a Honda franchised dealer for its most recent routine service. This result is marginally lower than last year’s, when the Japanese brand recorded 40.3% servicing retention for cars of all ages. Dealer networks for the three premium German brands also scored highly. Mercedes-Benz managed an impressive 4.5 percentage point year-on-year increase to 37.8%, rising from fourth to second place, and overtaking Audi (35.3%) and BMW (32.3%). Toyota completes the top five, retaining 29% of customers for routine servicing. The average for owners of cars of all makes is 24.8%. At the bottom of the table are dealer networks for Renault (16%), Peugeot (19.4%) and Ford (19.7%).
VERTU MoToRS
Vertu Motors has added four more Ford sites to its Bristol Street Motors portfolio with a takeover of gordons (Bolton) Ltd.
SSangYong
Ten new dealers have signed up to represent SsangYong, bringing the total appointed this year to 20. The new sales and servicing dealerships for Korea’s oldest car brand are Bescol Motors, Consett, County Durham; Falmouth Garage, Falmouth, Cornwall; Frasers of Falkirk, Falkirk, Scotland; Klic Cars, Dumfries, Scotland; Lindacre Ipswich, Ipswich, Suffolk; Minerva Cars, Bath, Avon; SERE, Belfast, Northern Ireland; Shukers, Shrewsbury, Shropshire; SMC Plymouth, Plymouth, Devon; and Tanners of Cardiff, Cardiff, Wales. SsangYong Motor UK chief executive Paul Williams said: “Confidence in the SsangYong brand is unquestionably growing, and our business proposition for dealers is increasingly being recognised. “We warmly welcome each and every one to the SsangYong franchise, which has grown by 29 new dealerships in less than two years. “That confidence is also translating into sales, with SsangYong now one of the fastest growing brands in the market this year”.
8 December 2014 am-online.com
Vertu now has 22 dealerships representing Ford, out of 114 sales and aftersales outlets across England and Scotland. For an estimated £11 million in cash, Vertu acquired the trade and certain assets of two Ford main dealerships in Bolton and Wigan plus two satellite operations in Walkden and Horwich. The Gordons business has represented Ford in Lancashire for more than 100 years and employs 218 people. For the year ended December 31, 2013, Gordons showed revenue of £76.7m and operating profit of £0.3m. Vertu said the dealerships are expected to be earnings neutral in the first full year of ownership and earnings enhancing in 2016/17. In a separate deal, Vertu bought The Taxi Centre, a business in Paisley, Scotland, that sources vehicles for private operators in the taxi sector.
PEoPLE nEWS MIKE gaDD Mike Gadd has taken the helm as vice-president of retail DMS at Pentana. Gadd has 20 years’ experience in the dealer management systems industry, most recently with ADP Dealer Services and previously with Kerridge and Kalamazoo-Reynolds.
UhY hacKER YoUng Accountancy group UHY Hacker Young has added David Kendrick and Paul Daly to its automotive sector team in Manchester. Kendrick and Daly will join tax partner Matthew Hodgson in the Manchester office.
RIchaRD hEMMIng Renault Retail Group (RRG) has appointed Richard Hemming as managing director of its UK operations. Hemming has more than 30 years’ experience in automotive retailing, most recently running the Audi Centre in Dublin.
ERIc LE gEnDRE The International Car Distribution Programme (ICDP) has announced that Eric Le Gendre has taken the position of chairman following Prof Dr Hans-Gerhard Seeba’s retirement in September after 14 years.
RIchaRD hagE GardX Protection has appointed Richard Hage as head of insurance services, representing its expanding insurance brand, GardX Assure. Hage was head of sales at Mapfre Warranty prior to joining GardX in 2012.
L I S T ER M o T oR c oMPa n Y
Lister Motor company has revealed its plans to rival the likes of Ferrari and McLaren with a £2 million hypercar.
Following the brand’s re-launch last year, Lister’s new focus on product development aims to return it to the leading edge of lowvolume sports car manufacturing in the UK, Asia and North America. It has sold nine of its limited run of £350,000 ‘Knobbly’ sports racing cars in the past 12 months, generating an order book with a value of more than £3million.
D a R R E n E D Wa R D S Sytner has appointed Darren Edwards as managing director. He was promoted from managing director of the Volkswagen Group division at the Leicester-based AM100 dealer group. He takes over from Gerard Nieuwenhuys, who becomes chairman.
MArkeT iNTelliGeNCe New car registrations N e w c a r r e g i s t r at i o N s
October boost takes year to date past 2m mark 14.2% rise takes 10-month registrations total over two million for first time since 2007 Need to kNow n 179,714 cars registered n 32nd consecutive month of growth By Jeremy Bennett ew car registrations increased by 14.2% in October to 179,714 units, marking the 32nd consecutive month of growth. October also saw registrations exceed the two million milestone. The total figure for the year to date is 2,137,910 cars, said the Society of Motor Manufacturers and Traders. This is the first time the market has passed two million units in October since 2007. After months of market watchers predicting emerging stability in the market, October’s performance exceeded expectations, with the quantity of finance packages available to buyers continuing to fuel the market. Mike Hawes, sMMt chief executive, said, “The October new car market outperformed expectations,
N
voluMe split
October 2014 2013 % change Mkt share ‘14 Mkt share ‘13 Year-to-date 2014 2013 % change Mkt share ‘14 Mkt share ‘13
Total 179,714 157,314 14.2%
Total 2,137,910 1,952,238 9.5%
with registrations showing the strongest growth in a month since March’s 18% rise. “With economic confidence still rising, customers continue to benefit from attractive financial packages on exciting new models. We still expect the overall market to level off as we head towards 2015, but the exception to that rule will be alternativelyfuelled vehicles, demand for which will continue to accelerate.”
Diesel 93,192 83,751 11.3% 51.9% 53.2% Diesel 1,067,425 962,505 10.9% 49.9% 49.3%
Petrol 81,830 70,611 15.9% 45.5% 44.9% Petrol 1,027,951 961,609 6.9% 48.1% 49.3%
AFV 4,692 2,952 58.9% 2.6% 1.9% AFV 42,534 28,124 51.2% 2.0% 1.4%
The popularity of alternatively fuelled vehicles continues to grow, with the market up more than 50% in both month and year-to-date. chris sutton, black Horse managing director, said: “As we witness another month of positive car sales, it’s a question more of when will this good news story end? “As we enter the final quarter of 2014, consumers will be anticipating new models in the new year and may
j a N u a r y- o c t o b e r N e w c a r r e g i s t r a t i o N s 2 0 0 5 - 2 0 1 4
Private 80,940 71,232 13.6% 45.0% 45.3% Private 1,037,324 940,668 10.3% 48.5% 48.2%
Fleet 89,718 77,875 15.2% 49.9% 49.5% Fleet 994,487 920,098 8.1% 46.5% 47.1%
Business 9,056 8,207 10.3% 5.0% 5.2% Business 106,099 91,472 16.0% 5.0% 4.7%
well be considering upgrading or part-exchanging their current car so this continued growth trajectory may continue, but more than likely at a slower pace than we have previously seen. “Alongside this, we should see manufacturers and finance providers continuing to work hard to offer affordable and competitive finance options to consumers, so all in all we should anticipate continued good performance till the end of the year and a promising start to next year.” The Ford Fiesta, Ford Focus, Vauxhall Corsa and Volkswagen Golf were the top selling cars in October and year-to-date.
a lt e r N at i v e ly fuelled veHicle r e g i s t r at i o N s – 2 010 -2 014 ( y t d)
18 December 2014 am-online.com
N e w c a r r e g i s t r at i o N s
10 -y e a r M a r k e t t r e N d s ava i l a b l e : w w w.am-online.com/ami
October Marque
2014
Ford Vauxhall Volkswagen Audi nissan BMW Mercedes-Benz Toyota Kia Hyundai Peugeot Citroën Mini Škoda renault Fiat Volvo Land rover Seat Honda Mazda Dacia Mitsubishi Suzuki Jaguar Lexus Porsche Jeep Alfa romeo Subaru MG Smart Bentley SsangYong Abarth Chrysler Maserati Aston Martin Infiniti Chevrolet Lotus Saab Mia Perodua Proton Other British Other Imports Total
24,221 19,005 15,495 12,893 11,934 10,558 8,741 6,233 5,981 5,892 5,867 5,748 5,262 5,078 4,754 4,646 3,946 3,695 3,450 3,028 2,336 2,047 1,784 1,744 1,127 1,096 948 398 356 216 188 183 131 127 117 108 97 55 53 10 8 2 0 0 0 64 92 179,714
% market share 13.48 10.58 8.62 7.17 6.64 5.87 4.86 3.47 3.33 3.28 3.26 3.20 2.93 2.83 2.65 2.59 2.20 2.06 1.92 1.68 1.30 1.14 0.99 0.97 0.63 0.61 0.53 0.22 0.20 0.12 0.10 0.10 0.07 0.07 0.07 0.06 0.05 0.03 0.03 0.01 0.00 0.00 0.00 0.00 0.00 0.04 0.05
9
Year-to-date 2013 21,325 18,116 12,594 10,720 8,346 8,493 8,346 5,963 5,103 5,509 6,859 5,211 3,904 5,641 3,761 4,096 2,772 3,965 2,903 3,641 1,779 1,442 439 1,369 944 719 715 342 416 105 36 365 115 62 100 139 32 66 40 700 28 0 5 9 2 34 43 157,314
% market share 13.56 11.52 8.01 6.81 5.31 5.40 5.31 3.79 3.24 3.50 4.36 3.31 2.48 3.59 2.39 2.60 1.76 2.52 1.85 2.31 1.13 0.92 0.28 0.87 0.60 0.46 0.45 0.22 0.26 0.07 0.02 0.23 0.07 0.04 0.06 0.09 0.02 0.04 0.03 0.44 0.02 0.00 0.00 0.01 0.00 0.02 0.03
% change 13.58 4.91 23.03 20.27 42.99 24.31 4.73 4.53 17.21 6.95 -14.46 10.31 34.78 -9.98 26.40 13.43 42.35 -6.81 18.84 -16.84 31.31 41.96 306.38 27.39 19.39 52.43 32.59 16.37 -14.42 105.71 422.22 -49.86 13.91 104.84 17.00 -22.30 203.13 -16.67 32.50 -98.57 -71.43 0.00 -100.00 -100.00 -100.00 88.24 113.95 14.24
2014 286,975 229,362 184,157 139,380 118,824 124,078 107,837 82,288 68,519 71,456 91,285 72,290 41,846 65,464 55,486 58,427 34,730 49,178 46,061 47,130 33,709 20,630 12,946 33,175 15,754 9,725 7,431 3,242 4,820 2,356 2,028 4,199 1,291 1,342 1,403 1,781 1,018 750 644 2,774 188 3 5 27 1 688 1,207 2,137,910
% market share 13.42 10.73 8.61 6.52 5.56 5.80 5.04 3.85 3.20 3.34 4.27 3.38 1.96 3.06 2.60 2.73 1.62 2.30 2.15 2.20 1.58 0.96 0.61 1.55 0.74 0.45 0.35 0.15 0.23 0.11 0.09 0.20 0.06 0.06 0.07 0.08 0.05 0.04 0.03 0.13 0.01 0.00 0.00 0.00 0.00 0.03 0.06
2013 270,342 218,473 167,130 124,981 102,887 113,806 94,970 78,794 63,410 66,719 92,878 68,984 44,168 55,217 36,081 51,683 27,623 47,881 38,371 49,135 27,806 13,073 7,855 28,556 14,200 7,769 6,736 1,800 4,912 1,862 309 4,681 1,056 567 1,214 2,376 271 791 345 10,682 169 3 5 202 20 678 767 1,952,238
% market share 13.85 11.19 8.56 6.40 5.27 5.83 4.86 4.04 3.25 3.42 4.76 3.53 2.26 2.83 1.85 2.65 1.41 2.45 1.97 2.52 1.42 0.67 0.40 1.46 0.73 0.40 0.35 0.09 0.25 0.10 0.02 0.24 0.05 0.03 0.06 0.12 0.01 0.04 0.02 0.55 0.01 0.00 0.00 0.01 0.00 0.03 0.04
% change 6.15 4.98 10.19 11.52 15.49 9.03 13.55 4.43 8.06 7.10 -1.72 4.79 -5.26 18.56 53.78 13.05 25.73 2.71 20.04 -4.08 21.23 57.81 64.81 16.18 10.94 25.18 10.32 80.11 -1.87 26.53 556.31 -10.30 22.25 136.68 15.57 -25.04 275.65 -5.18 86.67 -74.03 11.24 0.00 0.00 -86.63 -95.00 1.47 57.37 9.51
biggest growers y e a r t o d at e
1 2 3 4 5 6 7 8 9 10
BrAnD MG Maserati SsangYong Infiniti Jeep Mitsubishi Dacia Renault Subaru Volvo
YTD (%) 556.31 275.65 136.68 86.67 80.11 64.81 57.81 53.78 26.53 25.73
the disappearance of lotus from the top 10 risers’ chart, where it has been for most of this year, follows its recent announcement of redundancies and cost-cutting. in its place has appeared subaru, whose fortunes are finally looking more positive thanks to interestfree offers on its forester and a £199 monthly payment pcp on its Xv crossover. peugeot is a new entrant in the top 10 fallers. faced with very aggressive competition from volkswagen and Nissan, the french brand has had to concede market share.
BrAnD 10 Peugeot 9 Alfa Romeo 8 Honda 7 Aston Martin 6 Mini 5 Smart 4 Chrysler 3 Chevrolet 2 Perodua 1 Proton
YTD (%) -1.72 -1.87 -4.08 -5.18 -5.26 -10.30 -25.04 -74.03 -86.63 -95.00
biggest fa l l er s y e a r t o d at e
10 am-online.com December 2014 19
InsIGHT AM Used Car Conference
How to enhance your used car operations
Read extended versions of these reports online at: am-online.com/ AMusedcar
Analysis and advice from our experts on engaging the used car buyers of the future THe ANAlyTICs oF CAR sAles
Need To KNow n Car dealers need to spend more time marketing vehicles online and ensure information is correct n every ‘click’ can be monitored to improve a dealer’s website and increase conversions Ian Godbold, Cambria Automobiles marketing and CRM director Cambria Automobiles believes strongly in the importance of “digital presence”. Godbold emphasised the importance of dealerships having good websites, especially in an age where consumers visit up to 10 digital showrooms before ever setting foot in a physical one. He said dealers did not spend enough time marketing cars online, and warned that mistakes, such as upside-down images or incorrect information, will put serious buyers off. “I have seen dealers upload an advert to the site, but not check it to
see exactly what it looks like to consumers,” Godbold said. Cambria’s website allows cars to be tracked, ensuring each ad is listed correctly, with at least 20 images and walk-around videos where possible. Each dealer also has access to a dashboard showing which adverts are the most popular and which vehicles are generating leads. “Every part of our website is tagged with Google Analytics,” said Godbold. Every ‘click’ is monitored to improve the site and increase conversions. For instance, Cambria noticed that consumers liked to print the page “so we made the button bigger and moved it further up the page”. Consumer activity is also monitored – if someone is leaving the site before engaging a lead then there may be something wrong. “You wouldn’t let people walk on your physical forecourt and let them walk away, well that’s what may be happening on your website,” said Godbold. He also highlighted the benefits of a postcode tracker, which is used to track what other models, if any, a consumer has been looking at on your website – giving you a huge advantage when making a sale.
“You wouldn’t let people on your physical forecourt walk away, well that’s what may be happening on your website” 52 December 2014 am-online.com
bReAKING THe TRAdITIoNAl deAleR sAles Model
Need To KNow n dealers’ websites must stand out – a quarter of car consumers will visit more than 10 n Forecourt visits are down 41% year-on-year. Half of those visitors turn up unannounced Nick King, Auto Trader marketing research director A dealer’s website is a needle in a haystack and a quarter of car consumers will visit more than 10 websites, said King. Dealers’ websites need to stand out and to be visible, optimised and simple. He said Auto Trader’s research showed that online users are more impatient than ever, and consumers on mobile devices want results within three seconds. If the dealer’s digital experience is awkward or ignores them, they will move on. Forecourt visits are down 41% yearon-year, according to King’s research. Of those visits, 50% of consumers simply turned up without having contacted the dealer because they had found all the information they wanted online. The smartphone is now the consumer’s internet access point. They are using it to look for range and availability of stock, the dealership’s opening hours, address and contact details. And if they turn up to the
dealership they will expect to see that car they chose online, so dealers must not advertise cars that are not available. “The opportunity to influence is yours all the way through, so use the tools you have,” King said. Only 42% of consumers consider visiting more than one dealership. The average new car consumer makes 1.6 dealership visits, and 2.3 visits to buy a used car. Almost 40% consider just one make. King also talked about the importance of adjusting stock prices to remain within 5% of the market price for that car, in order to get an optimum level of interest and turn stock more quickly for profit. Of the used cars advertised on Auto Trader, 31% had not been re-priced in 60 days.
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MeAsuRING THe CusToMeR exPeRIeNCe
Need To KNow n dealers must map out standards that meet needs of customers, maximise commerciality, and are deliverable n Focusing on behavioural performance can directly improve customer satisfaction scores Mike dalloz, Md, Performance In People (PIP) World-class service providers have a model of excellence that starts with setting explicit standards to make sure everyone understands what fantastic customer service looks like, said Dalloz. “If you haven’t been absolutely explicit about the kind of service standards you expect your teams and individuals to deliver, how can you expect them to deliver it?” The customer service specialist advised dealers to map out those standards, aligned to customers’ requirements, maximising commerciality, and make sure it is deliverable. Having trained staff to understand them, coaching is needed to ensure
the training is not lost and to achieve consistency. “Training is about new knowledge, new skills, new behaviours. The way we sustain it is through really strong, memorable coaching that’s about reinforcing existing skills and existing knowledge.” PIP uses self-evaluation to review performance: “When you get somebody to look at their own performance, you learn a lot about them. “If they have delivered an experience which isn’t in line with your explicit standards, you want them to identify where they can improve. “If they think it’s actually pretty good, you have a training issue.” He said a weakness of mystery shops is that they measure what is expected, but not how it is done. Mystery shops can now get people to evaluate behavioural performance, including friendliness, enthusiasm, professionalism, interest in the customer, attentiveness and helpfulness. Dalloz said some of his clients are forgetting process to focus on behavioural performance, which showed that improvement in behavioural measurement scores had a direct impact on improvement in customer satisfaction measurement, he said.
beFoRe ANd AFTeR THe sAle
Need To KNow n Car dealerships ‘need to match the most popular ways customers are using to communicate’ n salespeople should move at customers’ pace on the web and avoid responding with questions Ray Harkin, operations director, Martec europe Ensuring dealers are easy for customers to deal with is the biggest challenge facing retailers, according to Harkin. showroom staff’s propensity to pre-judge or ‘pre-qualify’ depending on the contact method, tone, tact and language used could damage customer perception and business success, he said. A dealer should also ensure it matches the most popular ways customers are using to reach out, said Harkin. “It’s easy to build a relationship face-to-face or on the telephone, but the explosion in the last 10 years in
the way customers can contact and interact with us means we can’t choose,” he said. Harkin recounted meeting a dealership salesman who said if a customer didn’t include a telephone number in a web enquiry he wouldn’t take it seriously “because the customer wasn’t serious”. “The salesman didn’t understand that including a number didn’t suit the customer’s lifestyle,” Harkin said. He urged salespeople to never pre-judge a customer on their initial enquiry – every enquiry must be treated as valid and as “precious”. Regarding web enquiries, Harkin advised moving at the customer’s pace and warned against replying to enquiries with questions. “If the first thing you do is ask for information on an enquiry, the consumer might not want to continue.” On Live Chat, he advised against working to a script – “be genuinely interested in what the customer has to say”. Enquiries sourced on social networks need to be made personal, he said, and with telephone enquiries, be unique: “Compel the customer to visit the showroom to experience what you can’t share on the phone.”
oNlINe sTRATeGIes FoR ‘GeNeRATIoN C’
Need To KNow n Members of the ‘connected generation’ are freely giving away information your business can use n dealers need to research popular social media, paying particular attention to Twitter and Instagram Heather yaxley, Motor Industry Public Affairs Association director Yaxley spoke to attendees about how to understand
and engage with the ‘connected generation’ and the importance for dealers of cutting through the volume of online content. Members of Generation C live online and are providing immense amounts of information about themselves, she said. All of this is free. Dealers just need to pay attention. “start on the road to becoming a social business – the generation coming through is going to be more connected than ever. Any kid under eight thinks that everything swooshes,” she said. When members of the connected generation pick up a new car, they don’t want a bunch of flowers, they want to share with their ‘network’
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that they’ve bought a new car, she said. Dealers can take a picture of them picking up their car on their phone – a customer sharing this on social media will expand a dealership’s reach, firstly to their followers and if they favourite or retweet, this engagement grows again. “Facebook is old now. It’s a bit like going to a disco dancing like a dad, it’s better to be avoided than to be seen using tech that is ‘yesterday’,” Yaxley said. Dealers need to research what is popular, paying particular attention to Twitter and Instagram. not outsourcing social media will ensure that there is always a link between a business and the consumer.
Yaxley’s key online strategies to deal with members of Generation C are to; watch, research and follow before engaging. They are happily broadcasting for free information that dealers previously paid marketing and research companies for. Businesses are and should be taking advantage of this.
“Facebook is old now. It’s a bit like going to a disco and dancing like a dad” am-online.com December 2014 53
InsIGHT AM Used Car Conference wHAT eveRy CusToMeR wANTs IN THe dIGITAl AGe
Need To KNow n Number of people worldwide with online access will almost triple by 2020 n businesses need to remove the fear of failure to prosper online scott sinclair, industry manager, Google There are currently 2.8 billion people online globally and by 2020 that figure will be 8bn. That is more people than are alive on the planet right now, sinclair told delegates. The digital world is becoming more dominant – 28% of three- to fouryear-olds use tablets - and sinclair said it is easy to get confused, especially if you are not particularly techminded. The pace of change is also accelerating. For example, it took 75 years for the telephone to have 50 million users, but the internet had the same
amount of users after four years and the Angry Birds app took just 35 days. some companies are adapting. Tesla is trying to disrupt the industry by refusing to engage with franchised dealer groups and digital communications plays an important part in its plans. sinclair says it’s all about risk. Many people still do not understand the internet and online technology, but new generations being born into it will know no different. He says businesses need to remove the fear of failure. “At Google, if we aren’t failing enough, we’re not doing our jobs correctly – this failure pushes us to try harder and be better,” he said. Google’s approach is to develop products quickly, decide which ones work and then build on the successes. Businesses such as Woolworths failed on the high-street because they were dated, said sinclair, but Argos is starting to transform its stores using tablets instead of catalogues and offering same-day delivery.
MAxIMIse THe vAlue oF used CAR buyeRs
Need To KNow n understand what your buyers want – type, spec, age, price n Monitor the effectiveness of your digital marketing louise wallis, head of business development, NFdA Wallis presented 10 tips to maximise the value of used car sales: 1. ensure you have the right stock profile for your customers Understand what your buyers want – type, specification, age, price – and display the stock in optimum condition, with each having a full description. 2. ensure stocking policies are robust All stock should be turned at least every 60 days, 45 is better. Move on a vehicle earlier and take a financial hit rather than wait longer to see if it sells. 3. Know the provenance of the cars you sell Checks on a vehicle’s history, title, MoT status and mechanical condition are essential. Ownership documentation, recall data and details of outstanding finance must be to hand.
54 December 2014 am-online.com
4. Market stock digitally A digital presence is essential and you need to monitor the effectiveness of your marketing, ensuring websites show latest stock, using images and video and comprehensive descriptions. 5. Qualify your customers Get to know your customer, qualifying them with information on the type of car they want, their budget, finance choice and period they plan to keep the vehicle. 6. offer finance FCA changes to consumer credit law are as much an “opportunity as a curse” since finance will have to be sold in a “much more process-driven way that could drive greater finance sales”. 7. offer add-ons Products such as extended warranties, tyre, alloy wheel, GAP insurance and MoT insurance. 8. offer service plans service plans provide the additional opportunity for upsell of service and repair items. 9. Follow up post-sale Exploit opportunities to sell extras and promote service and repair as well as build a relationship and gather testimonials. 10. Invest in the right staff Recognise the value of your staff through training and incentives.
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uNloCK THe seCReTs oF youR dMs
Need To KNow n Management of the dealership management system should be kept within the operations team n More and more elements of future dMs systems will be mobile-enabled steve Meadows, development director, Pinewood A dealership management system (DMs) is a tool, just like a piece of workshop equipment, that provides a huge advantage when it is working well. However, not everyone is able to use it to best effect, said Meadows. From looking at dealers using Pinewood’s Pinnacle DMs, the best operators make it an integral part of their team and use it to help the performance of the business, he said. One of Meadows’ key tips was to select a DMs champion from the dealer’s operations team, give them the mission to squeeze the most out of it and allow them to link with other dealers using the same system to learn what works best for them. “Once the DMs is in the domain of the accountant or the IT expert, you will be potentially losing out operationally. You need to look at whether they have too much ownership of the dealer system.” Meadows said dealers must expect
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the DMs to change. In the 1980s, the DMs automated accounts and parts, in the 2000s they were in the showroom, today the DMs may enable the dealership team to work mobile. In future, more elements will be mobile, such as meet-and-greet apps, vehicle health checks, video preparation and instant messaging, plus tools to transact with credit cards online. With proper use, the DMs can keep used vehicle stock live, and use it to populate classified websites and social media. It can improve the process of work being done, such as tracking in prep centres, pricing, photography and video. It can provide management of complaints and satisfaction surveys so the dealer can identify the metrics and measure their marketing channels. Meadows also urged dealers to use the DMs to get a 360-degree view of customers and track individual customer spend and profitability.
“Once the DMS is in the domain of the accountant or the IT expert, you will be potentially losing out operationally”
SHOWROOM 66
Nissan Pulsar
Poor sales of its previous hatchbacks drove Nissan to fight back with crossovers. Now it’s also back in the traditional C-segment.
THE CARS DRIVING YOUR BUSINESS
67
Mazda3
68
Mazda’s Skyactiv-G engine has shunned the low-capacity, turbocharged route taken by rivals. Was it a wise decision?
Volkswagen Golf
A tour of the North West shows us why the Golf’s adaptive cruise control gives it a competitive advantage in the C-segment.
69
Seat Ibiza
The Spanish brand is pumping out well equipped special editions to help dealers tempt buyers into their showrooms this year.
F IR S T D R I V E ŠKO DA FA B I A - O N S A L E JA N UA RY 2 015
Turning its back on budget
Škoda will spend £5 million marketing the Fabia in 2015
The new Fabia supermini is not cheap, but Škoda is bullish about its prospects in a crowded sector By Tim Rose he new Fabia will form a key part of Škoda UK’s long-term ambition to reach 100,000 annual registrations after the Czech-built supermini reaches showrooms in January 2015. It will have a tough fight on its hands, given that Vauxhall has just launched its new Corsa in the segment and demand for the Ford Fiesta, the UK’s best-selling car, shows little sign of abating. The next-generation Mazda2 is also arriving in early 2015. However, Škoda UK director Alasdair Stewart is bullish
T
64 December 2014 am-online.com
“We hope that Fabia generation three will hit younger customers”
about his 15,000-unit target for Fabia hatchback sales in 2015, with a further 7,000 sales expected of an estate version. That will be an increase of more than 50% on the number of Fabias sold this year, during their run-out. Stewart said he will back the new supermini’s launch with a £5 million marketing budget in 2015, which will likely include digital promotions and a TV spot, plus some support for Škoda dealers’ own efforts. While the loyal customer base will be a source of buyers, the dealer network will be tasked with attracting buyers from other brands, and slightly younger ones, too. The Czech brand hopes success with the new Fabia will bring down the average buyer age slightly from its current 53 years. “We hope that Fabia generation three will hit younger customers. However, this type of car generally appeals to both ends of the spectrum,” said Stewart. The £10,600 entry point doesn’t seem cheap, but a draw for those new customers, according to Stewart, will be “very
F O R M O R E R E V I E W S V I S I T: w w w . a m - o n l i n e . c o m / r o a d t e s t s
S P EC I F I C AT I O N Price £10,600-£17,240 Engine 1.0-litre petrol 59bhp/74bhp, 1.2-litre petrol 89bhp/109bhp, 1.4-litre diesel 89bhp/104bhp Performance 0-62mph 9.4-15.7secs, top speed 99-122mph Transmission 5sp man, 6sp man, auto Efficiency 58.8-83.1mpg, 88-110g/km CO2 RV 3yr/30k TBC Rivals Honda Jazz, Kia Rio, Vauxhall Corsa
WHAT YOUR CUSTOMERS WILL BE READING ABOUT THE ŠKODA FABIA
Škoda’s MirrorLink system allows owners to run approved smartphone apps on the in-car display
CAR MAGAZINE The new Fabia is a very capable addition to the supermini class, with its roominess, ride quality and refinement all scoring it brownie points. It’s just missing some personality, both in terms of design flair and performance. Ultimately it’s a car that could only ever be a rational purchase, not something you’d buy because you really want it.
Retail buyers are expected to account for 70% of Fabia hatchback orders
compelling” PCP finance with strong guaranteed future values underwritten by Volkswagen Financial Services. Yet more crucially, he said, will be the Fabia’s connective technology – named MirrorLink – and the car’s improved design and personalised colour palette. Buyers can opt for contrasting roof and door mirrors and dashboard inserts if they wish. The MirrorLink system is standard with the infotainment on all except the base-level Fabia S, and allows owners to run approved apps from the latest smartphone onto the in-car display via a USB cable. One example used on the media launch was a sat-nav app, Sygic. Optional sat-nav was ordered by just 1% of previous Fabia buyers, so Škoda sees MirrorLink as enabling buyers who need such systems to access them at little or no cost. Other apps already available include personal radio, weather updates, audio books and information on parking spaces. Traditional Fabia customers may miss their CD player, however. The new car’s infotainment system has none and,
excepting its DAB radio, requires audio feeds from a smartphone or MP3 player. Another useful function is SmartGate, which permits the wireless transfer of certain vehicle data to specific applications on a smartphone for storage and mobile use. Škoda’s Drive App, for instance, can show a driver how efficient their driving style has been for any trip, and also displays fuel consumption, average speed and journey costs. Users can also review their journey on a map, as well as post them to Facebook. A G-Meter app can show acceleration and braking forces and speed, potentially useful for parents who lend their car out to their teenage offspring. Retail buyers are expected to account for 70% of Fabia hatchback orders. However, Stewart says the car’s appeal could improve in the fleet sector due to its better fuel efficiency and lower emissions. In mid-2015, Škoda UK will add a Fabia Greenline variant with 82g/km CO2 emissions that will appeal to cost-conscious fleet managers. Until then, the Fabia range will comprise a 1.0-litre threecylinder petrol in 60bhp and 75bhp forms, a 1.2-litre turbocharged petrol in 90bhp and 110bhp forms, and a 1.4-litre turbodiesel with 75bhp, 90bhp or 105bhp. All have start-stop as standard. The 1.0-litre 75bhp model is expected to be the best seller due to its price point and efficiency, followed by the 1.2-litre 90bhp.
MOTORING RESEARCH The Fabia might not be the ultimate budget offering it once was, but with this level of equipment it’s far from expensive. It’s a soothing small car to drive, with welcome composure and finesse. Besides, the practicality, efficiency and kit on offer here still represent strong value for money, and combined with the new inoffensive, chunky – maybe even predictable look (it’s quite customisable and fairly colourdependent, we reckon) – the new Škoda Fabia is sure to be a supermini winner for those who rank space above sportiness.
am-online.com December 2014 65
IN JANUARY’S ISSUE
C O N TA C T U S
PUBLISHED DECEMBER 19
AM, Media House, Lynch Wood, Peterborough PE2 6EA Email: AM@bauermedia.co.uk If you or someone you know are aged 16-24 and are interested in work experience opportunities at Bauer Media go to www.gothinkbig.co.uk Editor Jeremy Bennett 01733 468261 Managing editor Tim Rose 01733 468266 Senior reporter Danielle Bagnall 01733 468343 Industry editor Tony Willard AM production Head of publishing Luke Neal 01733 468262 Production editor Finbarr O’Reilly 01733 468267 Designer Erika Small 01733 468312
Face to face: Lookers Chief executive Andy Bruce and managing director Nigel McMinn reveal how the top 10 AM100 group’s brands and online operations are preparing for growth in 2015.
The motor retail minefield We look at what effect regulation and legislation is aiming to have on the car sales and service sector, and where the pitfalls may be for dealers.
Audi TT
FCA regulation An insight into the latest developments in the Financial Conduct Authority’s supervision of consumer credit and insurance in the UK, and how suppliers are helping dealers with approvals and compliance. PLUS: Full coverage of the expert advice from AM’s F&I Compliance Conference.
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The UK is the world’s largest market for current Audi TT sales, so the new version has big boots to fill.
ADVERTISERS’ INDEX Autoclenz ............................................51
GForces .........................................21/43
Mitsubishi......................................56-57
Auto Trader ........................................39
Institute of the Motor Industry .....46
Nextgear Capital UK........................58
Barclays Partner Finance................2
Ivendi....................................................72
Blacks Outdoor Retail .............. 36-37
Lawdata...............................................51
BCA .................................................35/50
Lloyds Banking Group ...................22
Chris Eastwood Automotive .........71
Manheim Retail Services.................9
Dealer Management Services...........
Mapfre Abraxas UK...........................6
..........................................................49/58
Marketing Delivery ..........................60
Tracker Network Systems ...........11
DSG Financial Services...................26
Marsh Finance...................................61
Trusted Dealers ................................10
70 December 2014 am-online.com
Contributors Steve Johnson, Chris Lowndes, Chris Phillips, Rupert Pontin, Prof Jim Saker, Piers Trenear-Thomas
Northridge Finance....................15/30 SG Smith Audi....................................71 Supagard ............................................50 Symco Training..................................55
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Focusing on your digital strategy Covering the latest developments in digital marketing, this one-day event will provide new thinking, insights, trends and statistics in this fast-moving arena. Confirmed speakers include: Dealer case study Chris Harris, marketing and customer director, HR Owen Is your website legal? Andrew Brennan, intellectual property and technology lawyer, SGH Martineau
Why should you attend?
• Sharpen your digital marketing skills and stay ahead of the competition • Gain deeper insight into customer expectations and digital trends • Understand latest developments and their potential impact • Enhance your digital strategy to further improve ROI • Learn how to deliver a connected customer experience • Increase digital knowledge and apply lessons from digital marketing experts • Capitalise on the experience of others and share best practice • Network with colleagues and learn from others
Aftersales in a digital world Alex Rose, former industry manager – automotive, Google, now marketing director, Whocanfixmycar.com Conference moderator Ginny Buckley, automotive journalist and television presenter
12 February 2015 The NEC, Birmingham, B40 1NT
#AMAUTODIGI
www.amdigitalmarketing.co.uk To book please contact Emma-Louise Kinnaird on emma-louise.kinnaird@bauermedia.co.uk or call 01733 395133.