The industry is forecast to be stable in 2020. Stable may be a welcome word for many and is certainly better than the prediction of decline we all lived under in 2019. However, I don't know too many in this industry who would agree that "stable" is the goal. Let's face it; if given stable, we all want to maximize every resource and reach better. When setting stretch goals, … [Read more...] about Dealership Management Advice: Work Smarter Not Harder in 2020
Before we start exploring the reasons why every car dealer must conduct an on-site compliance audit in his car dealership, let us form an overview of its fundamental concept and notches of significance. There are federal guidelines that govern each department of a car dealership; for example, there is a Used Car Rule for the sales department and CAN-SPAM Act for the BDC … [Read more...] about Why Conduct an On-site Compliance Audit in Your Car Dealership?
In the not too distant past, I used to pat myself on the back if I took a turnover on a phone call at a dealership from a Business Development Representative (BDR) and closed the appointment after a fifteen-minute conversation. Now, I realize that I could have set THREE appointments in that same fifteen minutes. It is said that there are 3 main reasons why an … [Read more...] about The Power of a Live Turnover in the BDC
vAuto founder Dale Pollak recently told a group of dealers: “We’re not in the car business, we’re in the business of making money.” And he’s right. One of the biggest influencers on new car dealers’ profitability in 2019 has been the health of their new vehicle inventory. In the latest Haig report, it was highlighted that franchise dealer expenses are growing faster … [Read more...] about Making More Money with the Right Inventory Metrics
The Business Development Center, or BDC, is the heart of the dealership. Every other BDC website or article you read these days contains that statement. What does that mean? Basically, when it’s running properly like the heart pumps blood to all the organs of the body, a BDC pumps business and strength to every department of the dealership. The BDC has many moving parts, … [Read more...] about Coaching and Consistency in your BDC