Friday, February 29, 2008

Significant Others

We understand that there are other people in your organization who may want to use the iLuxCars system but may not have your full authority to, well, spend money. However, many of our network members want their sales team to have access to iLuxCars but not be able to bid or submit vehicles.

So, because you asked, we've done it. If you want to add your sales team to the system here's how:
  1. Have them register. (http://www.iluxcars.com/register). It'll take a few seconds. Use the same dealership name and address as you use, and we'll get them going faster.
  2. We'll call them shortly after their registration is submitted. When we call, have them tell us that they would like access to the system but that they won't be buying or selling. We'll be happy to walk them through the system as well.

Once your salespeople have been enabled, they'll be able to:

  1. Keep their finger on the real wholesale luxury market. Read our news, see active deals, and view open requests in the System.
  2. Look at what's selling now – that is, "Live Trades." If they see a car they can use, they can let you know. Remember, we're happy to enter a bid for you if you give us a call.
  3. Make Requests. If you need a car put it in the system as a request. Our software searchs this list every time a new vehicle is submitted.
  4. View status on vehicles you've sold or purchased. (My Account - Where's My Car and My Account - Where's My Check).

Give it a try. We're here to help.

Wednesday, February 20, 2008

Clearly Not

Sometimes the clearest way to describe something is to explain what it isn't. You know – black is not white, a democrat is not a republican, a coupe is not a convertible, wholesale is not retail, and iLuxCars is not a listing service.

Let's repeat that: iLuxCars is not a listing service. Clearly Not.

If you've put a vehicle through your shop, listed it on AutoTrader, EBAY, Yahoo, ThaList, duPont, or the like, then iLuxCars isn't the right place for your car.

Our marketing and positioning department may not have communicated this with total clarity, so, here goes:

What we do – what we're 100% focused on – is helping you make your deal. Early in the process. Before – way before – you've put money into the vehicle. If you have a customer with a trade put it in the system. Right away. We're the wholesale solution for Live Trades. If, on the other hand, you're looking for a retail listing service then iLuxCars isn't the answer.

The truth is, our network members (you) don't want to see cars on iLuxCars that are also listed on Tha List or EBAY. You've told us this. Many, many times. You've made that clear.

So, we're unique. We know. We help you make more deals. EBAY won't do this. They can't. Neither can AutoTrader, the duPont Registry, or Yahoo. Only iLuxCars.

There simply isn't anything else like us. Clearly Not.

Monday, February 18, 2008

Bentley GTs

The iLuxCars System is at its core a database. A pretty big database, by the way. Lots and lots of 1's and 0's. We're constantly mining this data trying to extract the nuggets of information out of it that will provide our members with something you can use when you have a customer in your dealership trying to make a deal.

Most of you have probably noticed by now that we're showing you real transaction data (and handy visual aids) for your vehicles in the system. We're also committed to turning this data into information – information that you can understand, and, more importantly, use to your advantage.

So, while you can look at the numbers yourself, here's a summary on one vehicle – 2004-2006 Bentley GT:

First, and this isn't surprise, but, we're seeing a strong downward trend in the 2004 and 2005 model year vehicles. The 2006 and newer models have stayed pretty strong, provided the color and mileage is acceptable. Prices on 2005s are fluctuating from $100,000 to $110,000 for cars that are good colors (Black, White, Moonbeam, Silver Tempest) and have less than 15,000 miles. Blue and green are less desirable. If the vehicle has the Mullinner package it generally adds between $5,000 and $8,000.

And here's one of those handy visual aids - a snapshot of average prices for the last 12 months:



Remember, these are real money prices - not our guess, not what we think the market is on the GT, but the real money. Wholesale, of course. Right out of our database. All part of the solution.

Friday, February 8, 2008

Suprised

Sometimes, even we get suprised by the market. Here's an example:

This week, we had a 2007 Gallardo Spider, Blue Fontus with Ivory interior, 6sp with a $229,000 MSRP. 1,000 miles. The car can be bought for $180,000 and apparently, none of you are interested.

Suprising. Our first reaction to this was $180,000. We've had recent comparable vehicles north of $180,000. Several, in fact.

According to our data, this car is priced below the market. Suprising, huh?

For those of you visual learners out there - here's a picture of what we're seeing:

Monday, February 4, 2008

Focus

As most of you know, we spend a great deal of time talking to you. We also squeeze in a little time listening. What we hear (during all this listening time), overwhelmingly, is that you don't want cars on the system that are old inventory.

If you want to move your old inventory – especially if you expect retail value – then iLuxCars isn't the right place for your car. In fact, what it tends to do is depress the rest of the network. The prices are simply too high for a wholesale purchase.

What you DO want – again, overwhelmingly, is Fresh Trades. So, we're focusing on that.

iLuxCars is a wholesale solution. What we do, what we focus on, are heavy cars (greater than $70K) during or directly following trade-in.

So, starting today, when you enter a car for sale on the system, you may choose either Fresh Trade or Appraisal. No more 'Dealer Inventory' transactions.

An appraisal means that we will use the system to determine a price for your vehicle based on similar transactions and market knowledge. Choose this if you don't intend to wholesale the vehicle.

A "Fresh Trade" is a vehicle that you are either trying to take in from a customer or have recently taken in on another deal. You do NOT need to own the vehicle to start this type of transaction.

This is actually a big release for us. Many changes. Simple, useful, focused changes. Here's the top 4:
  1. A new home page. You'll notice this right away. It consolidates important information about the currently trading cars, cars you are selling, and recent transactions you have made. Plus, it looks really cool.
  2. iLUXCARS Market Report! When you submit a vehicle you will now be able to see recent, comparable transactions to your car during the submission process. You can use this information to establish your wholesale target price.
  3. Less email. We've reduced the number of emails that you will receive for events that happen in the system. Email is the only reasonable way to communicate with you about the rapidly changing state of the system, but we acknowledge (reluctantly) that it probably seems a little excessive.
  4. New preferences. You can now set a maximum mileage in your account preferences. If you enter 15,000, for example, we won't send email on vehicles with more than 15,000 miles. Note that you will still be able to see and bid on ALL vehicles – you just won't get the email.