For Kitty Van Bortel, the owner of Van Bortel Subaru and Van Bortel Ford in Victor, New York, last year was a tad disappointing. After three years of taking the prize as the top-selling franchise of Subaru of America Inc, Van Bortel came in second.
Even so, sales at her Subaru dealership held steady at about US$43 million, and she lost the top spot by a mere 17 cars.
PHOTO: NY TIMES
Not bad, especially considering how difficult it has been for women to break into the retail car business. The National Automobile Dealers Association has never officially called its training academy "the Dealer Sons' School," but that's how women of a certain age remember it.
Although women now buy 50 percent of all cars and are on a path to buying even more, the number of women selling cars has risen only slightly.
Dealership owners, like Van Bortel, are even scarcer.
Women hold about 7 percent of all jobs in dealerships, up from 3.5 percent in 1990, according to CNW Marketing Research. But while women account for 60 percent of the office staff, they fill only 7.1 percent of the general manager roles and 4.9 percent of the ownership positions, numbers that haven't changed much in the last decade.
Acknowledging the importance of women in the marketplace, automakers have long been rethinking how they design vehicles.
Many cars displayed this week at the North American International Auto Show in Detroit, for example, are marketed to appeal to women.
Of General Motors' 7,400 dealerships, 226, or 3 percent, are owned by women. At Ford Motor, women own 278, or 5 percent, of the 5,165 dealerships. It's much the same for other automakers.
The retail car business, like many others, has long been a father-son story. Sons took over dealerships as their fathers retired or died, and showrooms and service bays looked much the same for a century, with few women or members of minorities.
Then, if sometimes only by circumstance, a few women started inheriting dealerships from their fathers or, increasingly, from their husbands, and it appeared that time was finally marching on.
The major automakers have offered programs in recent years to recruit minority dealers, and they have now extended those efforts to women as well.
In January 2001, GM became the first automaker to create a dealer development program for women. Some other companies, like Toyota Motor Sales USA Inc -- which counts 33, or 2 percent, of its 1,406 dealerships as owned by women -- offer only financial assistance, and only to candidates with extensive experience in the car business.
GM and Ford, meanwhile, make loans and pay for intensive training and internships through the dealer association's academy.
Women who own dealerships tend to do well, and several manufacturers report that franchises owned by women are at or near the top in overall sales volume.
"The reason women become so successful is we're interested in treating women right when they come in," said Van Bortel, 48. "I don't mean to sound stereotypical, but women have so much more empathy for customers."
She has research on her side. CNW says 39 percent of women would rather deal with women in the car showroom, compared with 10 percent of men who prefer to buy cars from other men.
On the flip side, 13 percent of women prefer to deal with men, and 11 percent of men want to deal with women. The rest are indifferent about the sales representative's sex.
The US dollar was trading at NT$29.7 at 10am today on the Taipei Foreign Exchange, as the New Taiwan dollar gained NT$1.364 from the previous close last week. The NT dollar continued to rise today, after surging 3.07 percent on Friday. After opening at NT$30.91, the NT dollar gained more than NT$1 in just 15 minutes, briefly passing the NT$30 mark. Before the US Department of the Treasury's semi-annual currency report came out, expectations that the NT dollar would keep rising were already building. The NT dollar on Friday closed at NT$31.064, up by NT$0.953 — a 3.07 percent single-day gain. Today,
‘SHORT TERM’: The local currency would likely remain strong in the near term, driven by anticipated US trade pressure, capital inflows and expectations of a US Fed rate cut The US dollar is expected to fall below NT$30 in the near term, as traders anticipate increased pressure from Washington for Taiwan to allow the New Taiwan dollar to appreciate, Cathay United Bank (國泰世華銀行) chief economist Lin Chi-chao (林啟超) said. Following a sharp drop in the greenback against the NT dollar on Friday, Lin told the Central News Agency that the local currency is likely to remain strong in the short term, driven in part by market psychology surrounding anticipated US policy pressure. On Friday, the US dollar fell NT$0.953, or 3.07 percent, closing at NT$31.064 — its lowest level since Jan.
The New Taiwan dollar and Taiwanese stocks surged on signs that trade tensions between the world’s top two economies might start easing and as US tech earnings boosted the outlook of the nation’s semiconductor exports. The NT dollar strengthened as much as 3.8 percent versus the US dollar to 30.815, the biggest intraday gain since January 2011, closing at NT$31.064. The benchmark TAIEX jumped 2.73 percent to outperform the region’s equity gauges. Outlook for global trade improved after China said it is assessing possible trade talks with the US, providing a boost for the nation’s currency and shares. As the NT dollar
The Financial Supervisory Commission (FSC) yesterday met with some of the nation’s largest insurance companies as a skyrocketing New Taiwan dollar piles pressure on their hundreds of billions of dollars in US bond investments. The commission has asked some life insurance firms, among the biggest Asian holders of US debt, to discuss how the rapidly strengthening NT dollar has impacted their operations, people familiar with the matter said. The meeting took place as the NT dollar jumped as much as 5 percent yesterday, its biggest intraday gain in more than three decades. The local currency surged as exporters rushed to