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Used Vehicles Key to Dealer Success in 2008

January 29, 2008

Schaumburg, Ill. — 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 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 (NADA)’s 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 at the NADA Convention and Exposition can attend the workshop in Room 113 N. Exhibit Level on the following dates:

--Sunday, Feb. 10, at 3:30 p.m.

--Monday, Feb. 11, at 10:30 a.m.

--Tuesday, Feb. 12, at 11 a.m.

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