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 … [Read more...] about Making More Money with the Right Inventory Metrics
Fixed Operations
Importance of Whistleblower Hotline as Part of Dealership Comprehensive Compliance Program
No matter the size of your car dealership, it is in your best interest as a dealership owner to put tools in place that protect the reputation of your organization. With each new car dealership employing an estimated 70 people on average in 2019, the best place to start is within your company. Implementing a comprehensive compliance program that consists of regular audits, … [Read more...] about Importance of Whistleblower Hotline as Part of Dealership Comprehensive Compliance Program
Want to be Profitable for the Long Term? Rethink How You Approach Service Marketing
Everything from thinning profit margins in new vehicle sales to increased competition from direct-to-consumer manufacturers – like Tesla and Rivian – is combining to put the squeeze on your variable operations. Indeed, recent NADA reports show the average fixed operations department provides approximately 50 percent of their dealership’s gross profits – and yet, most … [Read more...] about Want to be Profitable for the Long Term? Rethink How You Approach Service Marketing
5 Steps to Tune Up Your Service Department Marketing
Not too long after the first auto dealer sold a new car to a customer, the dealership service department became “Ol’ Reliable” as a source of revenue and return business. In the history of automotive retail, dealers have gone through many up and down cycles of new-vehicle sales because of the economy, world and national events, fuel shortages, shifting consumer confidence … [Read more...] about 5 Steps to Tune Up Your Service Department Marketing
How Service Departments Can Prepare for the Future by Embracing Disruptive Technology
Dealership service departments are on the verge of seeing transformative changes, and those that do not recognize these emerging patterns may face dramatic losses in revenues and missed opportunities. Currently, new-vehicle dealerships handle only about 30% of service work performed across the country, which represents an enormous missed opportunity not only for additional … [Read more...] about How Service Departments Can Prepare for the Future by Embracing Disruptive Technology