Growing up in Wyoming, I learned many lessons about the value of being in a secluded place and not being surrounded by a crowd. One memory that standouts in my mind, was when I was in Yellowstone National Park. There is a really terrific tourist bridge on the north end of Yellowstone Lake that funnels countless cutthroat trout into the Yellowstone River. From … [Read more...] about Are You Fishing in a Crowd?
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…
New cars have all the signature marks of a commodity product: a 2020 black Corolla LE is the same regardless of the dealership you buy it from. While your experience at each dealership and the subsequent service may be different, the actual product is always the same. On the other hand, a 2016 pre-owned black Corolla LE is unique, as the mileage, condition, and history of that … [Read more...] about Modernize Your Website: Treat New Cars Like The Commodity Product They Are
Online auctions started out as an easy way to liquidate low-end trades. They have quickly evolved to the preferred method to buy and sell all types of inventory. Dealers no longer have to sell their luxury vehicles at a once-a-month highline auction, and they don’t have to be apprehensive about taking them as trades. Online auctions give dealerships of all sizes a … [Read more...] about 5 Ways Online Auctions Help Dealers Sell Luxury Vehicles
While the flow of off-lease vehicles continues pouring certified pre-owned (CPO)–quality cars, SUVs, and trucks onto dealers’ lots, which depresses used car prices and competes against their new-car models, a prudent used car manager sharpens his pencil—his reconditioning pencil. Used car sales will continue upward throughout this year, riding on the wave of off-lease … [Read more...] about 5 Benefits of Expedited Reconditioning