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 . . .
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
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
Redwood City, CA — September 5, 2018 — Amid the flattening automotive retail market, dealerships are turning to fixed operations to future-proof their businesses. Surveying 3,550 consumers and 404 franchise dealership employees, Cox Automotive Inc. conducted the 2018 Service Industry Study to explore the current state of the service market and help dealerships understand and … [Read more...] about New Automotive Service Industry Study Reveals Entry Points to Multibillion-Dollar Opportunity
You worked hard to build your relationships with customers—you know their cars inside and out. Naturally, they’ll come to you when they need service and repairs, right? Well, according to a recent study by Cox Automotive, you may be losing more customers to independent repair shops than you think. In fact, the study shows franchised dealers are getting fewer than one-third … [Read more...] about How to Leverage Data to Create More Service Department Opportunity