The world’s great philosopher Mike Tyson said it best: “Everybody has a plan, until you are punched in the mouth.” Well, we all just got punched in the mouth. As a business, we had plans to become more digital; we had plans to keep evolving customer experiences; we had plans to provide more technology and tools to help us do business with a customer. These plans just … [Read more...] about Everything has Changed, FOREVER! The Post COVID-19 World of Automotive Retail
According to a recent Cox Automotive study, 83% of consumers want to start their car buying journey online. Given the growth of digital shopping experiences in categories outside of automotive, this desire shouldn’t surprise anyone. Over the last decade, we’ve seen other industries develop strong digital retailing options that supplement or even supplant the in-store … [Read more...] about Carvana Has Nothing on You
On the old classic TV show "Lassie," Timmy never fell down a well, contrary to popular belief. But viewers knew if Timmy did, he could rely on Lassie to get help. According to a J.D. Power conclusion based on a survey of 85,000 respondents, the #1 attribute car buyers look for in their next vehicle purchase is reliability. But what exactly do they mean? The dictionary … [Read more...] about 5 Ways to Put Reliability at the Center of Your Store’s Success
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?