Franchised and independent auto dealers are taking a page from the buy here, pay here dealerships and holding their own paper. A recent informal survey of franchised and independent dealers in the Mid-Atlantic states revealed that as many as 20% of these dealers are originating and managing their own portfolios.
With pre-owned inventory becoming essential to the survival of many dealerships, the need for effective inventory management is greater than ever. A dealership can no longer afford to stock its lot with the vehicles that come in on trade and wholesale whatever doesn’t move. In today’s market it is essential
Effectively managing your vehicle inventory is the ultimate goal of any used vehicle department. To maximize your profits, it’s vital that you and your sales staff practice regular procedures that keep those vehicles churning. While many dealerships tend to focus on the importance of “Internet pricing” when it comes to
Rising fuel prices have made vehicle transportation more challenging than ever. Auto auctions have been hit particularly hard because they generally require transportation for hundreds, sometimes thousands, of cars each month. In addition, auctions that move vehicles to different locations around the nation can have even more challenges due to
The Internet has proven to be a tremendous resource for the automotive industry for everything from selling cars to finding new inventory. In today’s wholesale market, it is easier than ever for both independent and franchise dealers across North America to access the vehicles they need through online auctions, but
Dealerships around the country continue to struggle with difficult market conditions driven by high fuel costs and gloomy economic forecasts. Not only are more and more consumers rethinking their time frames for major vehicle purchases, but when they do buy, theyre spending less money. As a result, many dealers are
I was recently at a trade show where a major car carriers advertising stated, We have a 99.8 percent damage-free rate, which gives you 100 percent confidence. This translates into one damaged vehicle out of every 500 moves, a statistic that may or may not inspire 100 percent confidence. The
With inventory management and marketing tools washing up on the shores of the used car department in waves these days, what is a manager to do? Buying this technology to help manage risk might seem like a good idea, but is it? Isnt the used car managers instinct good enough