Dealership on track for $700,000 in accessories revenue in 2011
Dry Ridge Toyota featured on the September cover of Dealer Magazine
SAN FRANCISCO, CA — October 10, 2011— izmocars (www.izmocars.com) today released a case study outlining how a rural dealership in Kentucky increased accessories sales 270 percent in two years, while scoring a 99 percent CSI in the process. The case study is available at http://www.izmocars.com/images/stories/AOA/Dry-Ridge-Toyota_AOA.pdf.
In late 2010, Toyota presented a challenge to the 8 Toyota dealerships in Dry Ridge’s Kentucky and nearby Cincinnati region: increase your accessories sales by 20% within 6 months, by adopting new Internet-based accessories sales tools, and Toyota will reimburse you for half the tool’s cost. With almost no experience in accessories sales, Dry Ridge decided to take on this challenge and adopted izmocars’ AddOnAuto (AOA), an in-store digital sales tool that allows customers to virtually add or remove car accessories and instantly view them on their vehicle of choice.Not only did they meet the goal, they far exceeded it, achieving 412% of the sales objective. The next runner up achieved only 92% of their sales objective.
The case study demonstrates how the implementation of AOA combined with an innovative sales process and a consumer-friendly environment drove eye-opening results for Dry Ridge. It also highlights how this new focus and process has inspired a culture-change at their store – building unprecedented unity among team members.
“We made [accessories sales] a priority,” said Rob Marshall, Dry Ridge Toyota’s Dealer Principal. “In 2010, we put in the right accessories sales processes and invested in the right training. As a result, we now sell an accessory of some type to two out of three new-car buyers and to about a third of our used-car buyers for about $700,000 a year in accessories sales.”
Dry Ridge Toyota’s winning process and use of the AOA sales tool is driving $50,000-plus a month in accessories sold with 2 in 3 car buyers converted to accessories purchases.Other results include:
• The only Cincinnati region dealership to meet Toyota’s accessories sales challenge AND to exceed the Toyota sales goal
• The dealership is on track for $700,000 in accessories revenue in 2011 up from $16,000 per month/$188,000 in 2009: a 270% increase
• Dry Ridge Toyota achieved a CSI score of 99% during its last 90-day period.
• Streamlining process – and sharing profits – across all departments has increased staff unity and buy-in
Dry Ridge Toyota’s success with accessories sales was also featured as the cover story of the September issue of Dealer Magazine, which includes a Q&A with Dealer Principal Rob Marshall and best practices tips about dealership accessories sales.
izmocars also recently released its Midyear 2011 AOA Accessories Trend Report1, which analyzes accessories sales of dealerships across the country. The AOA report is based on sales data from a diverse sampling of 180 dealerships, representing 13 brands and 5 regions across 30 states. The dealerships studied in this report, in aggregate, sold $10.6 million in accessories in Q2 2011, for a total of over $20 million for the first half of the year. The average dealership analyzed increased accessories sales by $475 per-vehicle-sold, with average gross margins of 47% and average net profit margins of 32.8%, compared to 45% and 28% respectively for all of 2010.
To view the full AOA report, click here: www.izmocars.com/trend-reports/AOA-MID-YEAR-TREND-REPORT-11.PDF
To read the izmocars Dry Ridge Toyota Case Study, click here: http://www.izmocars.com/images/stories/AOA/Dry-Ridge-Toyota_AOA.pdf
To read the Dealer Magazine September issue with cover story on Dry Ridge Toyota, click here: http://www.izmocars.com/campaigns/dealer-magazine.html
(1) All dealerships in the report sampling utilized AddOnAuto from izmocars.
izmocars is a leading provider of Automotive Business Solutions including: Website and Online Marketing Solutions, Enterprise-level Automotive CRM, iConsult – Sales Performance Coaching and AddOnAuto – an In-Store Accessories Sales Solution.
izmocars is also the world's leader in Interactive Media Content for the automotive industry. Founded in 2002, izmocars services some of the most successful eDealers in the country.
izmocars is based in San Francisco, with offices in Long Beach, CA, Chattanooga, TN, Philadelphia, PA, and Brussels in Europe.
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