Apr 14, 2025 | Data Mining, Equity Mining, FRIKINtech, Service Drive
We are in a loyalty crisis. The benchmark that 35% of your monthly sales should come from people who have spent a dollar with you is far from achieved. In 2024 and into 2025, loyalty rates are hovering in the low 20% territory. Dealers who were religiously seeing 30...
Feb 26, 2025 | Data Mining, Equity Mining, FRIKINtech, Marketing, Service Drive
See the Benchmarks One of my favorite times of year is looking at all the stats we track for an annual benchmark on customer engagement with our products and dealers. 2024 is a special year for this as we developed a deeper view of the customer. In years prior, we...
Jan 31, 2025 | Data Mining, Equity Mining, Marketing
The Trade-In Timing Trend Recent data indicates that consumers who purchased a vehicle are increasingly looking to trade it in approximately 24 months after their purchase. They casually re-enter the market after making their 18th payment. It takes them up to 6 months...
Jan 20, 2025 | Data Mining
I had the best Used Car Manager when I first started selling cars. Mike Jobson was his name and his way of stating the cold truths of the car business have stuck with me for three decades. When a fresh up was on the lot, but nobody had gotten to them, Mike would yell...
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,...
