Schaumburg, Ill., Jan. 29, 2008 — The plans auto dealers establish now in selling used vehicles could have the greatest impact on their business over the next year, according to recent research from Experian Automotive, a part of global information services company Experian, and Bank of America.
The findings of this research will be presented during a workshop entitled “Five Secrets to Increasing Your Used Vehicle Profits” at the National Automobile Dealers Association’s (NADA) 91st Annual Convention & Exposition being held Feb. 9–12, 2008, at the Moscone Center in San Francisco, Calif. The workshop features a three-member panel including Doug Sellers, Southeast dealer center director for Dealer Financial Services at Bank of America; Melinda Zabritski, director of Automotive Credit for Experian Automotive; and Peter Margaros, director of sales for Experian Automotive.
“Over the past year we’ve seen significant growth in the used vehicle market and its effect on the dealers’ bottom line,” said Sellers. “Having a strong used vehicle strategy will be critical to the profits dealers see in 2008.”
The research and strategies presented in the workshop combine Experian Automotive’s and Bank of America’s data analysis and expertise to provide auto dealers with the insights and processes they need to build a successful used vehicle program. Dealers attending the workshop will learn how to better understand the pulse of their market, gain deeper insight into the unique dynamics of the used vehicle finance market, align lenders to their used vehicle strategy, better evaluate and stock vehicles that are most likely to sell, and, finally, create an objective plan that will lead to used vehicle profits.
“There’s no doubt that the power of the used vehicle market is stronger than ever,” said Scott Waldron, president of Experian Automotive. “Experian Automotive and Bank of America have the market reporting and lending expertise in the used vehicle space that can give dealers the strategies and tools they need to make profit-generating decisions for their businesses.”
Dealers participating in the NADA Convention and Exposition can attend the workshop in Room 113 N. Exhibit Level on the following dates:
For more information about the NADA Convention and Exposition and its workshop programs, please visit www.nada.org/TrainingEvents/Convention.
About NADA
The National Automobile Dealers Association, founded in 1917 and based in McLean, Va., represents approximately 20,000 new car and truck dealers holding nearly 43,000 separate franchises, domestic and import.
About Experian Automotive
Experian Automotive, a part of Experian Group Limited (LSE:EXPN), delivers information services to manufacturers, dealers, finance and insurance companies, and consumers. Experian® helps automotive clients increase customer loyalty, target and win new business, and make better lending and vehicle purchase decisions. Its National Vehicle Database, housing more than 500 million vehicles, along with Experian’s credit, consumer and business information assets, meets the industry’s growing demand for an integrated information source. Experian’s advanced decision support services help clients turn this information into improved business results. Experian technology supports several top automotive Web sites, including eBay Motors, CarsDirect.com, CarMax.com and NADAguides.com. For more information on Experian Automotive and its suite of services, visit our Web site at www.experianautomotive.com.
About Bank of America
Bank of America (NYSE: BAC) is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial products and services. The company's Global Corporate and Investment Banking group (GCIB) focuses on companies with annual revenues of more than $2.5 million; middle-market and large corporations; institutional investors; financial institutions; and government entities. GCIB provides innovative services in M&A, equity and debt capital raising, lending, trading, risk management, treasury management and research. Bank of America serves clients in 175 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 80 percent of the Global Fortune 500. Many of the bank's services to corporate and institutional clients are provided through its U.S. and UK subsidiaries, Banc of America Securities LLC and Banc of America Securities Limited. For additional information, visit www.bankofamerica.com.
Contact:
Christopher Fielder
Experian Public Relations
1 224 698 8628 Telephone
christopher.fielder@experian.com Email
Will Wilson
Bank of America Corporate Communications
1 704 388 3360 Telephone
will.wilson@bankofamerica.com Email