Jan 14, 2025 | Data Mining, Equity Mining
Vehicle Equity Trends: 2023 vs. 2024 Notably, while the average vehicle equity has seen a decline, there has been a significant increase in the percentage of customers who have fully paid off their vehicles. In 2024, the average vehicle equity was recorded at $8,724,...
Jan 2, 2025 | Equity Mining, Marketing
Understanding a car buyer’s behavior is crucial for dealers. Many buyers begin contemplating their next car after making just 18 payments on their current vehicle, despite potentially lacking equity for a trade-in. Additionally, the rising average service ticket of...
Jan 2, 2025 | Data Mining, Service Drive
Current Trends in Service Costs and Vehicle Age Recent data indicates that dealership service customers are now paying an average of $521 for service work on their vehicles. This figure reflects the increasing costs associated with vehicle maintenance and repairs as...
Dec 5, 2024 | Data Mining, Equity Mining, Service Drive
The average DMS database size we see is around 21,000 customers. There are an additional 1,100 service repair orders hitting the database every month. And the number of lease returns varies by dealership. Depending on the market, more than half of these customers are...
Nov 19, 2024 | Digital Retail, FRIKINtech, Lead Response, Marketing
FRIKINtech’s SALESiQ has been a valuable lead follow-up mechanism on leads and a great conversion device on websites. For a limited time, dealers can purchase SALESiQ & WEBSITEiQ for $399/mo. Learn more about SALESiQ Learn more about WEBSITEiQ Get a demo of...
Nov 7, 2024 | Digital Retail, FRIKINtech, Marketing, Websites
Oral arguments were made by NADA and the FTC to the 5th Circuit Court of Appeals in New Orleans on October 9th, 2024. Lawyers have opined NADA made the best arguments for the way the FTC has laid out the CARS rules. The basis of the argument was that the FTC did not...
Oct 16, 2024 | Digital Retail, Email, FRIKINtech, Lead Response, Marketing, Websites
If you’re an independent dealer or looking for a website engagement experience that is different from what your OEM forces on your new cars, SALESiQ is now for you! SALESiQ includes: Automated Internet lead response directly from your CRM Payments on your...
Oct 14, 2024 | Data Mining, Equity Mining, Service Drive
I was reading the latest CarDealershipGuy newsletter and became fixated on the recall topic. Since 2016, recalls have stayed above 30 million vehicles per year! Twenty-one million recalls have already happened in 2024. Predictions show 2024 will not be an exception in...
