Edmunds just announced their Hackomotive 2014 contest where folks come up with ideas on how to improve the car buying process etc., and as a former employee I was initially excited to see this but within 60 seconds something caught my eye that was disappointing.

Last year's #1 Winner - My Motive which paints the picture that up until now the Dealer has made the consumer their "Bitch" yes, that's in there, and that this new My Motive lets the consumer turn the tables and finally make the Dealer their "Bitch" (yes it really says that).

Why does this bother me so much? We'll frankly because I was with them and helped launch their direct to dealer program and when I went to work there I remember in my interview saying: "I've been a dealer and for years we really haven't had much love for Edmunds so how are you going to fix that because, as a dealer, I need to know you're there for me if I buy your program."

My boss at the time shared the vision of Edmunds still maintaining their integrity with consumers but not really being focused on creating more content like 'confessions of a car salesman' anymore.

I bought into the idea that they would finally respect the dealer community and helped enroll well over 100 dealerships in their program in my first year with them.

Apparently I was wrong about their true motives and if all of this doesn't tick you off as a dealer, you need to get your head examined.

You can see the award of $10,000 they paid for a 1st place idea in hackomotive 2013 right here http://www.hackomotive.com/presentations/06_my_motive/mymotive.pdf

If you don't want to click over to their site, here are actual screen shots (Note - I've added the arrows and comments on the side)

In my not so humble opinion, vendors should work to help Dealers do two things: Get and Keep Customers. Rewarding a "Make the dealer my bitch" idea only furthers what many already believe about Edmunds.

Simply put, they don't care about your dealership, they only want your money and behind the scenes they're all still high fiving each other when they disrespect the dealer.

In this case, the high-five had a $10,000 bonus.

What's the best idea for 2014 going to be: "F@€K Dealers, buy direct from Edmunds" ?!?!?

I'd love to hear your feedback and please everyone, share this with other dealers ASAP but really I have a question for everyone seeing this:

ARE YOU DONE BEING Edmunds"BIT¢H"?

Helping the best get better,
Mat Koenig
CEO & Founder
KonigCo & iCarMedia

SANTA MONICA, Calif., Jul 23, 2012 (BUSINESS WIRE) -- Edmunds.com has officially surpassed 100,000 Facebook likes, and is now the most popular automotive information website on both Facebook and Twitter. As of this morning, Edmunds.com's 101,700 Facebook likes and 34,400 Twitter followers topped all other independent automotive shopping or research sites.

"Consumer engagement is a top priority for Edmunds.com and sites like Facebook and Twitter have been our front lines to interact with online car shoppers," says Michelle Denogean, Vice President of Marketing at Edmunds.com. "Our social media team has worked tirelessly to create fun and memorable experiences that resonate with everyone from first-time car buyers to seasoned auto enthusiasts."

Edmunds.com crossed the Facebook milestone just days after launching its first ever cross-platform ad campaign. The debut TV ad "Ask the Car People" premiered July 9th on airwaves in four local markets, and has been featured on each of Edmunds.com's social media channels. Online users can watch the ad any time at http://www.edmunds.com/about/ask-the-car-people-commercial.html .

To celebrate its 100,000 likes, Edmunds.com has posted a gallery of $100,000+ dream cars selected by members of Edmunds.com's editorial staff. Fans are invited to share their opinions on these fantasy cars on Edmunds.com's $100K+ Cars for 100K+ Likes post on Facebook.

Edmunds.com's social media presence extends well beyond Twitter and Facebook. Edmunds.com on YouTube offers reviews and instructional videos, while Edmunds' InsideLine.com on YouTube showcases video of some of the rarest, fastest and most expensive cars in the world. Pinterest users can pin Edmunds.com at http://pinterest.com/edmundsinc/ and Google+ users can track Edmunds.com content at https://plus.google.com/106326607174519341980/posts .

About Edmunds.com, Inc.

Edmunds.com, the premier online resource for automotive information, launched in 1995 as the first automotive information Web site. Its acclaimed mobile site, Edmunds.com Android App and five-star Edmunds iPhone and iPad apps make car pricing and other research tools available for car shoppers at dealerships and on the go. Its automotive enthusiast web site, InsideLine.com, is the most-read car publication of its kind. Its highly regarded mobile site and iPhone app features the wireless Web's most comprehensive gallery of automotive photos and videos. Edmunds.com Inc. is headquartered in Santa Monica, California, and maintains a satellite office in suburban Detroit. Follow Edmunds.com on Twitter@edmunds and like Edmunds.com on Facebook.

SOURCE: Edmunds.com

http://www.edmunds.com

http://www.automotiveinternetsales.com

Media Kit

Why partner with Edmunds.com?

• Over 90% of automotive buyers use the Internet¹
• Most Research Occurs on Third-Party Sites²
  - 71% of all automotive audience visit third-party resource sites
  - 61% excluding OEM sites
• 42% of deeply engaged shoppers use Edmunds.com³
• Edmunds.com Audience Size⁴
  - Unique Users: 13.69 Million
  - Page Views per Month: 166 Million
• Visitor Patterns: 90% of visitors who submit a lead, purchase a vehicle within 70 days⁵
• Edmunds.com Demographics⁶
  - Male/Female: 71%/29%
  - 73% between the ages of 35-64
  - 64% have college or post-graduate degree
  - 91% own their home
  - 62% are employed full-time
  - 79% are married
  - Edmunds.com is the #1 auto site for consumers make $100K+
  - Edmunds.com is the #1 auto site for users with portfolios of $250,000

Edmunds.com is the definitive resource for in-market auto consumers. By partnering with Edmunds.com, you gain exposure to the Edmunds.com consumer.

SOURCE - http://www.edmunds.com/dealers/visitor-demographics.html

One of the BIGGEST Reasons Why Prospects Utilize Edmunds.com is because of their True Market Value "TMV" Pricing... Here is a breakdown of what it is. It is my opinion that EVERYONE in the Dealership, ESPECIALLY the Internet / BDC department needs to not only KNOW about this... but they need to understand how to use this information for their dealership's success True Market Value® Pricing Premier Dealer Program Dealer Ratings & Reviews Edmunds.com's True Market Value® gives you the opportunity to optimize customer satisfaction and maximize dealer profitability! What Is True Market Value® (TMV®)? An exclusive Edmunds resource used by consumers to calculate the price others are paying for new and used vehicles in their area. A proprietary pricing system that takes into account key variables. Free, no-hassle way for dealers to improve customer experience and increase the likelihood of repeat customer visits (sales & service) and positive word-of-mouth referrals. How True Market Value® Benefits You Reduces primary tension with customers during purchase process (price negotiation) while ensuring you get a fair price. Decreases time spent on price negotiations, allowing you to allocate more time for additional sales or other activities. Negotiations from a TMV® position are generally more profitable than those done from invoice. Do You Disagree with True Market Value® (TMV®) Prices Reported on Edmunds.com? If you think our numbers do not accurately reflect transactions in your area, you can help us refine our prices by providing sales data from your dealership. True Market Value® FAQs What is TMV®? Are TMV® prices regionalized? How does TMV® benefit me? Why does Edmunds want dealer vehicle transaction data? Where does Edmunds get its pricing data from? How is transaction data provided to Edmunds? How is the data extraction done? What do I need to do to participate in the program? Is there any cost to me? What does this program require of me on a day-to-day basis? How often is data electronically transferred from the DMS, and how often is the data updated on Edmunds? Will information about my dealership or its operations be available to any other person or organization? Does the TMV® price include regional marketing fees? What items are called out as separate line items? Will any data be written to my DMS?   What is TMV®? TMV® is Edmunds' estimate of the most commonly paid, current, actual transaction price for new and used vehicles — the True Market Value® in a particular region. Are TMV® prices regionalized? Yes, TMV® prices reflect varying market conditions for new and used vehicle sales throughout the country. How does TMV® benefit me? By providing your dealer transaction data, you influence the TMV® pricing for your region. Dealers benefit from providing non-specific dealer data (identified by Zip only) - it enables analysis of selling conditions and trends in your area which you may not be aware of. Why does Edmunds want dealer vehicle transaction data? The data is needed to establish Edmunds' True Market Value®. More transaction data translates into higher accuracy for TMV® pricing. The goal is to determine the most commonly paid price in the marketplace, based on actual transaction prices, in order to give dealers a fair profit and the consumer a fair deal without lengthy and stressful negotiations. Where does Edmunds get its pricing data from? Data is downloaded weekly from the Dealer Management Systems (DMS) of 5,000 dealerships and dealer groups across the country. Edmunds receives data from roughly 25% of all the US dealerships. How is transaction data provided to Edmunds? Edmunds uses a contracted vendor to extract only the specific data you have approved for extraction from your DMS. This data is then delivered electronically back to Edmunds. How is the data extraction done? It is typically done remotely via a dial-in modem through a user name and password provided by dealer. Dealers also have the option of delivering the data directly to an FTP site. This option enables dealers to bypass data extraction from their DMS by a contracted vendor. What do I need to do to participate in the program? Is there any cost to me? Your written authorization is required. There is no cost to the dealer. What does this program require of me on a day-to-day basis? Nothing. Once the authorization document is signed, the data is extracted without any interruption to your DMS or daily operations. How often is data electronically transferred from the DMS, and how often is the data updated on Edmunds? Data is transferred weekly. Major updates take place on a monthly basis, minor updates are handled weekly. Will information about my dealership or its operations be available to any other person or organization? No. Edmunds will not disclose any information that could identify a dealer. The dealer's data will be used solely in aggregate as an input to the determination of TMV®. Does the TMV® price include regional marketing fees? They are not called out as a separate line items but, if applicable, they are factored into the overall TMV® price. What items are called out as separate line items? National base price, destination charges, regional adjustments, color adjustment, optional equipment and any applicable incentives are called out and figured into a bottom line New TMV® price. Used TMV® prices also include condition and mileage adjustments. Will any data be written to my DMS? No.

Source - http://www.edmunds.com/dealers/true-market-value-info.html

As you know or if you’re not already aware, Edmunds.com is going direct to dealers. They’re cutting out the middle man (AutoUSA, Dealix and Autobytel) and coming after our business with a newly hired sales team.

Dealers, WE/YOU have a very important choice to make that WILL help determine change (good or bad) to our industry. Keep in mind, Edmunds.com has never been one to treat the dealer fairly.

I’ve been watching this for a while, and it’s not rocket science, but follow me…

A few years ago, Zag is re-selling leads to dealers per lead basis. Zag changes their subscription model and starts charging dealers on a per sold basis.

“So I don’t pay unless I sell a car?” – nope. That is music to a dealer’s ears!

However, in order to determine what to charge you, Zag needs access to your DMS in order to match-up customer sold data (dare they say “transactional data to the dealer”) with the leads they’ve sent you over the last few months.

Dealers don’t think twice about signing up for the new Zag subscription model. But not thinking twice is the potential issue. You just signed an agreement allowing a 3rd party company to proudly scrub your DMS for YOUR transactional data! Only to use this data to power a CONSUMER facing price analysis tool – TrueCar!

TrueCar Inc. is an automotive solutions provider focused on changing how cars are sold by providing a significantly better customer experience while helping qualified dealer partners to gain incremental market share and reduce costs. TrueCar.com is a transparent, visual publisher of new car transaction data.

How much more transparency does our business need? Perhaps this is nothing more than the evolution of our business.

I’ve spoken to several higher-ups at TrueCar and trust me, this is a determined company. They “want to change the way cars are sold and bought”. Yeah, we’ve heard this before, but this time we dealers need to listen and pay attention.

The challenge; how does TrueCar turn TrueCar to be a household brand?

Let’s review the top visited online automotive research sites …

In order for TrueCar to become a household name, they need a platform to brand themselves. Edmunds.com fits the bill.

Before I go any further, allow me to inform you the following is pure speculation on my part…

TrueCar’s people speak to Edmunds people about a possible synergy between the two. They consider a deal UNTIL Edmunds.com say “Whoooaa – wait a second, we already have a TrueCar piece and it’s over a decade old”. TMV – True Market Value.

For sure you haven’t forgotten about TMV have you?

Edmunds.com quickly figures out exactly what they need to do. Sell direct to the dealers. And in return suckering dealers into allowing them to pull their transactional data.

Click here for a copy of the Edmunds.com Dealer Agreement For Dealers.

TrueCar already claims to have over 40% of all transactional data In the United States. Dealers allowed this to happen due to our ignorance and oversight.

Are you going to allow Edmunds.com to have YOUR data as well?