COVID-19 blind-sided us with an uppercut, right hook and hard hit to the gut. We may be down and a little dizzy, but we are not out for the count. I'm so proud of this country and multiple industries for answering the call of duty. Our manufacturers have switched over entire assembly lines. Dealerships have created new processes to accommodate online sales and employees working … [Read more...] about The Road to Recovery
It might sound counterintuitive, but one of your best ongoing opportunities for boosting dealership sales lies in the Service department. Consider the typical sales prospect walking through your showroom front doors. They wait for an average of six years between vehicle purchases.1 Their life circumstances are wildly different from the last time they bought, and yet they … [Read more...] about Sales Opportunities Start… In Service?
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 expenses are growing faster … [Read more...] about Making More Money with the Right Inventory Metrics
When a cashier takes your money for your purchase and then sends you off with a deadpan, “have a good one,” how do you feel? On the other hand, Chick-fil-A restaurant’s signature send-off, “My pleasure,” is a big reason it is the most profitable fast-food business in the country. According to an article in Entrepreneur.com, Chick-fil-A “makes more per restaurant than … [Read more...] about Plan, People and Profitability: A Lesson in Chicken
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