Automotive Glossary | Toronto Auto Consulting

Glossary

Automotive Information and Lingo

  • AutoAlert: Another amazing tool for car dealerships to mine their existing customer database.
  • Autotrader: Canada’s largest marketplace to retail vehicles for car dealerships.
  • Blog: Powerful content tool which helps you communicate with your customers digitally.
  • CarGurus : An emerging marketplace to retail vehicles with built in live market pricing tool.
  • Credit Car Zone : Helps people to get approved on an auto with bad credit in Hamilton.
  • Closing Ratio : Percentage of amount of sales opportunities versus sales.
  • CRM: Customer relationship management.
  • CTR : Click through ratio is calculated by dividing VDP/SRP. Anything over %6 indicates healthy online merchandising.
  • Kijiji: Canada’s largest marketplace to sell used vehicles and other used items for private sellers.
  • Lease Pull : Renewing lease contract before customer’s current lease expires.
  • Organic Traffic: Website traffic generated based on your website content. Also, it is free.
  • OMVIC : Ontario Motor Vehicle Industry Council regulates motor vehicle sales in Ontario. Administering and enforcing the Motor Vehicle Dealers Act on behalf of the Ontario Ministry of Government and Consumer Services (MGCS), OMVIC’s mandate is to maintain a fair and informed marketplace by protecting the rights of consumers, enhancing industry professionalism and ensuring fair, honest and open competition for registered motor vehicle dealers
  • Pay per click (PPC), google AdWords: This tool allows you to bid (pay) on certain keywords to generate non-organic traffic to your website from google search engine.
  • PL : Priority Listing, lists your car first in your city by default regardless of the filter.
  • PPL : Provincial Priority Listing, lists your car first provincially by default regardless of the filter.
  • Retargeting / Remarketing Campaign : Follow your website visitors by placing certain cookies to their web browser and show them your relevant ads while they are surfing internet. It can be very powerful if used correctly.
  • SEO : Search engine optimisation. Adjusting website to be crawled easier by search engines by bringing more relevant information.
  • SRP : Search results page, When Customers search for a 2012 Toyota Corolla on Autotrader all the cars come up, that is search results page.
  • Turn Ratio : Amount of times you sell your current inventory per year. Calculated by dividing 360 by average days on the lot. 360/30 days on thelot : 12 Turns
  • Up : First time customer.
  • Vauto: Amazing inventory management, appraisal and vehicle sourcing tool. We personally don’t know any better tool to this date for car dealerships.
  • VDP : Vehicle Details Page, when customers click on your particular car after searching for a specific car on Autotrader.
  • Toronto Car Loans : Help dealers match with people with bad credit in Toronto and help people get approved on an auto loan.
  • Water : Difference between current inventory cost of a vehicle and actual cash value.
  • Website ad placement : Place your dealership’s advertising on different online mediums such as Toronto Star’s website. Using this method is modern way placing newspaper ads. 

CONTACT INFO

283 Danforth Avenue Suite# 160, Toronto, ON. M4K 1N2

1-800-294-1650

info@torontoautoconsulting.com

Bad Credit Car Loan Approval in Toronto

 

NEWSLETTER

Subscribe to our newsletter for latest updates about our creative agency

© Copyrights 2018 Toronto Auto Consulting. All Rights Reserved. Privacy Policy