New Mazda SUV Part of Industry Electrification Trend

Details of CX-90 to be fully revealed in January.
https://www.fi-magazine.com/369603/new-mazda-suv-part-of-industry-electrification-trend?utm_source=dlvr.it&utm_medium=blogger

CPO Sales Up Year-Over-Year

The interest rate factor actually buoys them, Cox says.
https://www.fi-magazine.com/369612/cpo-sales-up-year-over-year?utm_source=dlvr.it&utm_medium=blogger

VW CFO Foresees Tighter New Year

Economic pressures expected to make 2023 even more challenging.
https://www.fi-magazine.com/369614/vw-cfo-foresees-tighter-new-year?utm_source=dlvr.it&utm_medium=blogger

Auto Shoppers' Woes to Continue in 2023

More cars are available, but record prices and rising interest rates will challenge customers.
https://www.fi-magazine.com/370201/nada-auto-shoppers-woes-to-continue-in-2023?utm_source=dlvr.it&utm_medium=blogger

Why Setting Goals Matters

* Focus: Setting goals at the beginning of the month provides focus and direction for the F&I department. It helps team members prioritize their efforts and ensure that everyone is working towards a common objective. * Motivation: Goals provide inspiration and a sense of purpose. When team members have a clear target to work towards, they are more likely to stay motivated and engaged in their work. * Accountability: Setting goals helps establish accountability for results. When team members are clear on what is expected of them, it becomes easier to hold them accountable for achieving their targets. * Measuring progress: Goals provide a way to measure progress and track performance. By setting clear targets, it becomes easier to identify areas where the department is excelling and areas where improvement is needed. So, what kind of training is essential for F&I team members to focus on consistently? Here are a few areas: * Product knowledge: It's essential that F&I team members have a deep understanding of the products and services they offer. This includes knowledge of the features and benefits of each product, as well as how to communicate these to customers effectively. * Customer service: F&I team members need to be skilled at providing excellent customer service. This includes being friendly, approachable, and responsive to customer needs. * Sales skills: F&I team members are also salespeople, so it's important that they have strong sales skills. This includes the ability to identify customer needs, make persuasive arguments, and close deals. * Compliance: Finally, F&I team members need to be well-versed in compliance requirements. This includes knowledge of state and federal regulations, as well as company policies and procedures. Now, let's talk about how to set new records in the F&I department. Here are a few tips: * Set specific, measurable goals: Rather than setting vague goals like "increase sales," set specific, measurable targets that you can track and evaluate. For example, "increase sales by 10% compared to last month." * Track performance: Make sure you are tracking your progress toward your goals on a regular basis. This will help you identify areas where you are excelling and areas where improvement is needed. * Focus on customer service: Providing excellent customer service is key to success in the F&I department. Make sure your team is well-trained in customer service skills and that you are consistently providing a great customer experience. * Encourage teamwork: F&I success is a team effort. Encourage your team members to work together and support each other in achieving their goals. * Celebrate success: When you achieve your goals, take the time to celebrate and acknowledge the hard work of your team. This will help build momentum and motivation for future success. In conclusion, setting goals at the beginning of the month is crucial for success in the F&I department. By focusing on essential training areas and setting specific targets, you can drive performance and set new records for your department. Remember to track progress, focus on customer service, and celebrate success along the way.
https://www.elitefipartners.com/post/why-setting-goals-matters?utm_source=dlvr.it&utm_medium=blogger

KBB Announces Winners of 2023 Best Buy Awards

NASCAR Driver Toni Breidinger teams up with Kelley Blue Book to test top award winner.
https://www.fi-magazine.com/369616/kbb-announces-winners-of-2023-best-buy-awards?utm_source=dlvr.it&utm_medium=blogger

F&I Menu Presentations | Key Areas of Focus | Finding Success

For an F&I manager to be successful, they must have extensive product knowledge, be able to build value in their products, and follow a consistent sales process. In this blog post, we'll explore the importance of F&I training and how it can help managers excel in their roles. Building Value in Products through Product Knowledge One of the most important aspects of F&I training is building product knowledge. F&I managers must have a deep understanding of the products they sell, including the benefits they offer, the features that set them apart, and the potential risks they protect against. By having this knowledge, F&I managers can confidently present the products to customers and explain why they are valuable. This, in turn, helps customers see the value in the products and can lead to more sales. Using Stories and Experiences Another key component of F&I training is learning how to use stories and experiences to build value in products. People are naturally drawn to stories, and F&I managers can use this to their advantage by sharing examples of how the products they sell have helped other customers. For example, an F&I manager might tell a story about a customer who purchased an extended warranty and ended up saving thousands of dollars in repair costs. By sharing stories like this, F&I managers can help customers see how the products they offer can provide peace of mind and protect against unexpected expenses. Following a Process to Build Consistency Finally, F&I training should focus on developing a consistent sales process. This involves developing a step-by-step approach to presenting products, addressing objections, and closing sales. By having a consistent process, F&I managers can ensure that they are presenting the products in the most effective way possible and that they are providing a consistent experience for all customers. This consistency can lead to improved sales and customer satisfaction. By building product knowledge, using stories and experiences to create value, and following a consistent sales process, F&I managers can excel in their roles and provide a valuable service to customers. Having consistent F&I training can lead to improved sales, customer satisfaction, and overall success for a dealership. At Elite FI Partners, we understand the importance of F&I training and coaching. That's why we offer comprehensive training programs designed to help F&I managers build product knowledge, develop effective sales techniques, and create a consistent approach to presenting products. With our training programs, dealerships can ensure that their F&I managers have the skills and knowledge necessary to excel in their role and provide a high level of service to customers. Contact us today to learn more about how Elite FI Partners can help your dealership succeed.
https://www.elitefipartners.com/post/f-i-menu-presentations-key-areas-of-focus-finding-success?utm_source=dlvr.it&utm_medium=blogger