Have we forgotten, or worse, have we failed to teach new sales managers some of the methods in selling aged inventory outside of having to discount the price? The perspective in our industry over the past ten years is that the only way to sell an aged used car is to drop the price until it sells. While it can be an effective strategy; it costs the store gross profit, and is not … [Read more...] about 8 Tips to Consider Before You Drop the Price…
Finance & Insurance
What will be the business model and value of dealers in the future? In order to get a perspective on the future of auto retailing, we must first be clear on the definition and elements of retailing today and going forward. “Retail” is not merely the in-store experience or the physical presence of a brick-and-mortar dealership. It is more than just the online shopping … [Read more...] about The Future of Auto Retail—A Future Perspective
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
Entering 2020, many people are talking about vision, hindsight and future potential. I often wonder how my career would have been different if I had the same knowledge 11 years ago that I have today. Being a Finance Manager is Difficult I definitely would have told myself in the beginning that being a Finance Manager can be highly stressful. The hours are long, and the … [Read more...] about Dear Younger Me . . .
As the world continues to watch and see exactly how the COVID-19 outbreak unfolds, everyone involved in the automotive industry is also eyes wide open on the topic. The outbreak has had a sweeping and profound impact in a short amount of time, and it has been a striking blow to what was a magnificent run of sales dating back to the recession of 2010. How Bad Will Things … [Read more...] about Where the COVID-19 Outbreak Is Impacting Dealers’ Marketing Strategies