REDWOOD CITY, Calif., March 22, 2018 /PRNewswire/ -- Record-breaking U.S. car sales may have stalled out, but does that mean the brakes are on for a dealership's profitable growth? Not a chance, shares Jim Roche, Xtime's senior vice president of marketing and managed services, in his new book, "Fast Lane: How to Accelerate Service Loyalty and Unlock its Profit-Making Potential." "Fast Lane" will make its debut at the NADA 2018 show in Las Vegas on March 22-25.
"When looking at service and customer retention, 64 percent of dealers state retention is their number one priority, yet 85 percent don't have the technology or tools in-place to enable a superior ownership experience," said Roche. "In 'Fast Lane,' my main takeaway for readers is that the average gross margin in service is forty-seven percent and less than one-third of service visits takes place at a dealership. There's your opportunity to drive profitable growth."
In "Fast Lane," Roche dives into the perceptions and attitudes of U.S. car owners toward service departments. He explains how dealerships can address their shortcomings in delivering the ultimate customer experience through analytically-driven insights, dealership case studies, and comprehensive best practices to unlock service's profit-making potential.
Dealers, according to Roche, will need to wring additional operational efficiencies using modern technologies from each profit center going forward to have a healthy overall operation.
"For dealers, it's about turning one-time car shoppers into lifetime customers," Roche said. "The right technology, tools, and processes in-place can streamline and simplify your service department, giving customers a seamless service experience that drives greater loyalty and ultimately re-purchase."
Trevor Gile, Managing Partner of Motorcars Honda in Cleveland Heights, Ohio agrees. "Jim Roche has a cutting-edge view and this book shows exactly what it takes for dealers to stay ahead of the competition in today's changing market. He's taken everyday ideas and expanded them to point to the future."
"Fast Lane" will be available at Xtime's NADA 2018 booth 2923C, as well as during Roche's NADA 2018 Presentation, "Turn One-Time Visitors into Lifetime Customers," on Friday, March 23 10:30-11:30 a.m. PT in Room N220 of the Las Vegas Convention Center.
"Fast Lane" will also be made available on Xtime's website.
Xtime delivers retention solutions for the automotive retail industry. Xtime, headquartered in Silicon Valley, is the exclusive or preferred provider for 29 major global automotive manufacturers in the United States, Canada, Europe and Australia, as well as leading dealership groups, and services 7,500+ dealerships. Xtime is a Cox Automotive brand. For more information, visit Xtime.com.
About Cox Automotive
Cox Automotive Inc. makes buying, selling and owning cars easier for everyone. The global company's 34,000-plus team members and family of brands, including Autotrader®, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across 100+ countries and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with revenues exceeding $20 billion. coxautoinc.com.