Wednesday, August 20, 2008

Recent Team Additions

This week, August 18, iLUXCARS welcomes Tim Rogers as Vice President of Sales & Operations.

Tim comes to iLUXCARS from Autobytel, Inc. where he was Vice President of Dealer Sales. At Autobytel, Tim led the sales team, which was responsible for thousands of retail dealers nationwide. He developed an industry leading national sales force, spanning both field sales and telesales, with reps in every major U.S. market.

As one of Autobytel's original employees, Tim was a key contributor in steering Autobytel’s early growth from 1996 through 2000. A primary player on the sales team from the beginning, Tim led the integration of both the Autoweb and sales teams after Autobytel acquired both companies in 2001 and 2004, respectively.

Tim brings more than 12 years of management and leadership experience to iLUXCARS. You will be hearing more from Tim in the near future. All of us on the iLUXCARS team are looking forward to working with Tim as we continue to grow the iLUXCARS Network and improve the iLUXCARS System.

Thursday, August 14, 2008

Blame Someone Else

Along with the Big Changes this week the System is now attaching 2 versions of the iLUXCARS Appraisal Report to the email that contains your appraisal number. The first version has comparable values and the 'Simple' version doesn't.

The Appraisal Report is a powerful tool you can use to get a real commitment from your customer. And, best of all, you can blame someone else for the number. Blame iLUXCARS.

You can mention that we've processed nearly a billion dollars worth of luxury and exotic cars in the last 18 months. You can show them the Market Report if you want.

We've talked to several of you about this idea and the response has been great. Several of you are using it to make your deal.

So, blame someone else - we can handle it.

Monday, August 11, 2008

Big Changes

At iLUXCARS, we are constantly trying to improve the process to balance the needs of both buyers and sellers. Starting tomorrow, the format and rules for buying cars is changing.

First, cars on the "Live Trades" list will have commitments from sellers at the specified target price. If the target price is met, the bidding will automatically close. This will encourage buyers to bid early and tie up the car quickly. Once the target price is met, it is the seller's responsibility to finish their deal and accept the offer as quickly as possible.

Second, when you enter a new vehicle you will be asked if you have a commitment from your customer. If you don't, the System will enter your vehicle as an appraisal where you will receive a value based on the last 30 days of transactions. The Appraisal will help you start your deal and achieve a real commitment from your customer. Once commitment is established, you can convert from Appraisal to Live Trade, enabling the entire network to view your car. Note that if the commitment is too far above the appraised value, you will be unable to convert to a Live Trade.

Our biggest complaint from our network is the lack of commitment from the sellers - either no commitment or above market asking prices. These changes are designed to alleviate these frustrations, as well as increase the participation from the dealers. We are aware all dealers want to know what buys the car. We are also aware that dealers don’t like the auction process and want the bidding closed once they have bid the money.

Designed for Trades. Faster. Safer. Better

Thursday, August 7, 2008

The iLUXCARS Update

By now you should have received our first issue of the iLUXCARS Update which includes a comprehensive Pricing Guide. The guide includes current wholesale prices for our vehicles over the last 4 months.

We know that your business office staff often throws these sorts of things directly into the circular file, so if you haven't seen it, you really, really need to ask for it.

If you want, you can download the latest report by clicking on the link 'August Market Report' in the 'What's New' section of your home page after you login.

The report is the result of extensive analysis on live iLUXCARS transaction data. Over $850 million worth of luxury and exotic cars have passed through the iLUXCARS System in the last 18 months. In other words, this isn't just our opinion. We have substantial proof.

The data included in the report is specific to selected high-end luxury vehicles – our specialty. We've chosen the makes and models included in the report for many reasons:

One, we have extensive data about all of these vehicles – prices, options, colors, mileage, etc.

Two, this is the center of our expertise – we trade more of these types of cars than nearly anyone in the world.

Three, we have been asked for access to our data about these cars by everyone – the demand, seriously, has been a bit of a surprise.

Four, and possibly most important, there is no other good source of reliable data on these vehicles available today.

If you haven't seen it or can't find it let us know and we'll send you another copy. We have a feeling that you'll be glad you did.