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July 31, 2012

How the auto market conditions are ideal for your dealership to sell more cars

As the year progresses, so do new car sales. In fact, TrueCar.com expects July 2012 new car sales to be the highest July since 2007. With these improving sales numbers, you need to be thinking about how to get more leads and how to sell more cars.

Here?s a look at TrueCar.com?s forecasts for the top eight manufacturers for July 2012:

Unit Sales
Manufacturer	July 2012 Forecast	% Change vs. June 2012	% Change vs. July 2011
Chrysler	131,668	-9.1%	17.5%
Ford	178,345	-13.9%	-1.1%
GM	215,520	-13.4%	0.3%
Honda	116,470	-6.7%	44.7%
Hyundai/Kia	111,159	-3.5%	5.8%
Nissan	95,187	3.2%	12.5%
Toyota	159,174	-10.5%	21.7%
Volkswagen	49,831	-2.0%	30.4%
Industry	1,171,201	-8.8%	10.6%

If you are going to capitalize on the auto industry?s new car sales growth and get more sales leads, you need to understand the driving forces behind this trend. So what?s behind the continued growth of auto sales when reports show slow economic growth in the country overall? There are a number of factors: how to sell more cars

Low auto loan default rates ? The rate of auto loan defaults dropped to their lowest rate ever in May? 1.11% ? in the eight years since default rates have been tracked.
Lower consumer credit scores ? While other types of lending are still hard to come by the subprime auto finance market has been opening up allowing more people with lower credit scores get loans.
More loans to more car buyers ? Auto loans to nonprime, subprime and deep-subprime customers increased by 11.4 percent in the first quarter of 2012.
Improved loan terms ? Auto financing lenders are keeping interest rates lower and setting loan terms longer, giving car buyers lower car payments.
People?s cars are wearing out ? Since 2008, consumers were holding on to their cars longer than they used to because of the economy. These cars are finally getting old and consumers are buying new ones.

Let Auto Credit Express help you sell more cars

It?s like all the planets being in perfect alignment ? favorable auto financing terms and rates, increased lending to subprime consumers and an overall need for new cars. You couldn?t ask for a better set of circumstances.

If you don?t know where to start, Auto Credit Express can help with our unmatched special finance leads, subprime automotive sales training, virtual BDC and desking software.

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