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Dealership Earns Top Honor from IADA

Tuesday, 07 November 2017 15:30 Written by

The Indiana Independent Automobile Dealers Association named Grote Automotive as its 2017 Joe Krier Quality Dealer of the Year.

The award was presented to Fred Grote at the association’s 30th Anniversary Golf Tournament and Awards Day held at Ironwood Golf Club in Fishers, Ind.

The Quality Dealer of the Year is chosen based on several criteria.

The dealership and dealer must be consumer oriented, and the dealer must have a record of good business decisions based on honesty and integrity. Also, the dealership and dealer must represent themselves as a civic leader in their community.

Grote Automotive is located in Fort Wayne. It was started by Fred and his wife Jackie in 2007.

Fred Grote had successfully managed several dealerships for other dealers throughout his career and finally decided he wanted to create a different experience for the customer. He wanted a dealership that specialized in special financing that helped those people that may have slipped through the cracks.

In addition to the Quality Dealer of the Year award, Grote Automotive was also named one of Indiana’s Top 100 Best Places to Work for 2017 and No.1 in Fort Wayne. The dealership was also named to the Inc. Magazine’s list of the Nation’s Top 5,000 Fastest-Growing Private Companies.

The dealership and the Grote  family give generously to the community. Fred and Jackie Grote’s generosity began early when they decided to become foster parents, fostering over 30 children and adopting four of them as their own, with two of them involved in the business. 

Grote Automotive sold 2,000 vehicles last year and Grote attributes the success of his dealership to his team of dedicated staff and the loyal customers.

Grote Automotive will represent Indiana at the National Independent Automobile Association Convention in Orlando, Fla. in June 2018 and compete with Quality Dealers from other states for the National Quality Dealer of the Year title.

 

U.S. News Names Lexus Top CPO Program

Wednesday, 08 November 2017 00:55

U.S. News & World Report unveiled its inaugural Best Certified Pre-Owned Program award.
Drawing on data from the U.S. News Best Used Cars rankings and auto brands' CPO program parameters, the Best Certified Pre-Owned Program award highlights the CPO program that offers the most peace of mind for buyers.
Lexus took home the top honors based on its lengthy warranty coverage, high level of CPO benefits and the dependability record of its pre-owned vehicles.
The Lexus CPO warranty includes coverage for up to two years with no mileage limit and no deductible. Lexus CPO buyers can also take advantage of free roadside assistance and a free loaner car, as well as four complimentary factory maintenance service visits in their first two years or 20,000 miles of ownership.

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Hiring Challenges Small Businesses

Monday, 06 November 2017 18:15

Following the largest increase in a decade, small business optimism held steady in the fourth quarter, according to the latest Wells Fargo/Gallup Small Business Index.

The Index is based on a survey conducted October 2-6.

In the quarterly survey, which measures the optimism of small business owners, the overall Index score dipped slightly to 103 in October – down from 106 in July when it was the highest Index reading in a decade.

A contributing factor to the three-point decrease was how business owners evaluated their current finances. Seventy-one percent rated their financial situation today as very or somewhat good in October, down five percentage points from 76 in July. Despite this slight decline, business owners’ financial situations remain at pre-recession levels.

In October, business owners were asked to identify the most important challenge facing their businesses today. Sixteen percent said hiring and retaining quality staff is their top concern, up from 13 percent last quarter and the highest reading on this measure since the question was added to the survey in 2013.

While hiring is a top challenge, 32 percent of business owners reported plans to increase the number of jobs at their business in the next year – the second highest percentage in the 14-year history of the survey.

Used Vehicle Retention Rises

Monday, 06 November 2017 18:09

Black Book’s Used Vehicle Retention Index for October increased to 114.6 from 113.9, its second straight monthly increase dating back to August when it was at 112.6. 

The Black Book Used Vehicle Retention Index is calculated using Black Book’s published wholesale average value on two- to six-year-old used vehicles, as percent of original typically equipped MSRP. It is weighted based on registration volume and adjusted for seasonality, vehicle age, mileage, and condition.

The last remaining expected replacement activity stemming from hurricanes Harvey and Irma drove continued vehicle valuation stability and shopping demand during the month of October.