I attended the Automotive News Marketing 360 event here in Los Angeles on Tuesday of this week. As usual it was filled with advertising and marketing folks, most of whom I didn’t know. But the occasion is always interesting because the way dealerships reach customers and market themselves is changing so fast.
Jon Ikeda, vice president of the Acura Division at American Honda, opened his talk saying, “The interior is the future.” That is increasingly true as a vehicle’s ability to connect with the occupants, other vehicles, transportation infrastructure, and who knows what else is becoming a selling point. And as drivers become less relevant, I suppose the interior will become more and more like a lounge.
That does kind of leave me wondering where brands such as Acura, which emphasize the performance aspect of driving one of their models, will be left. If we all become passengers, will performance matter? Actually, Ikeda wasn’t going down that road, but that is where my mind travels….
I sat next to a dealer from Illinois who was growing a dealership group. It was an illustration of the issues my columnists write about all the time. He was thinking of selling out, but then one of his kids and other some other relatives said they were interested in working in the dealership business.
He figured that a single-point store wouldn’t be able to survive and now that he has successors, he is going to grow instead of selling out! To reference the column from Key Private Bank, he is making the change from a life style owner to a value creation owner.
This week, cyber security expert Rick White returns with a column looking at five common misperceptions about cybercrime, such as it always originates in developing countries and it is very complex. Read his piece to learn more.
Another regular contributor, Joe Aboyoun, this week writes about the real estate component of a buy sell. As older dealers sell out, some are holding on to the real estate in order to keep an income stream. The buyer must lease the property from the former owner. Joe discusses some important points to consider if you are leasing the property your new franchise sits on.
And, of course, we have Transaction News.