The concept of cost-cutting is an age old mantra in the business world. Spend less money, make more money. In practice it’s not so simple. How do you identify the areas that truly need a trim and how do you get the most out of your cost-cutting measures? We don’t have all the answers here, …
Reducing Dealership Business Expenses The Right Way Read More »
The new year is upon us at last and it’s time to take a look at some of the top auto trends to watch in 2018 so that you can position yourself for success. Let’s just get right into it.1. Car Sales Will Be Stable. For The Most Part.Car sales are expected to dip slightly …
5 Auto Trends to Watch In 2018 And How They Could Impact Your Bottom Line Read More »
The car dealership of the future has always been a topic of intense discussion and disagreement among industry leaders. The biggest point of contention seems to be whether dealerships will even be relevant in a few years from now.However, a study commissioned by the NADA shows a future not far from what we see today. …
2017 is starting to look like a promising year for used car dealers. However, many dealers are finding they need to sell MORE used cars than they did in previous years just to make the same profit as before. And with consumers becoming more and more educated about the car buying process it’s making the …
Here’s Why You’re Losing Money On Used Car Reconditioning Read More »
In 2016, we saw used vehicle depreciation rates rise above the 15% projected previously. This year, they’re projected to reach 20% or higher for used cars and up to 18% for used trucks. Your profit margins are determined in large part by these rates of depreciation, so it’s important to be cognisant of this while evaluating …
How Projected Rates of Depreciation Will Affect Your Used Car Sales in 2017 Read More »
If you aren’t careful, the used car reconditioning process can greatly impact the profitability of your car sales. The longer a car sits around waiting for reconditioning to be completed, the less profit you’ll make when you finally sell it. When you don’t closely monitor this process, it’s easy for things to slip through the …
Why the Reconditioning Process is Vital to Used Car Sales Read More »
Change can be difficult in any business sector, including the automotive industry. New technology can serve as a powerful tool to help make dealerships more efficient and profitable, but it can be met with resistance from employees.A Harvard Business Review article addressed this very topic, citing research that found resistance to change can be overcome by …
Resistance to New Technology Can Be Overcome With These Tips Read More »
Every industry is being transformed by new technology, and auto dealerships are no exception. Unfortunately, far too many businesses deploy technology but fail to focus on adoption. Simply rolling out a new way of doing things with a lot of fanfare isn’t enough to make it a success as indicated by a recent study conducted by …
Tips to Convince Auto Dealership Employees to Adopt New Technology Read More »
Adopting new technology is a time of transition for any type of business, including car dealerships. Part of the challenge lies in “selling” the new technology to employees, which will encourage them to learn about its capabilities and use it to their – and the company’s – advantage. The following are some dos and don’ts, …
Dos and Don’ts for Car Dealerships Adopting New Technology Read More »
A view of the changing retail landscape and our most important new “Metrics” from one of the industry’s leading consultants. In today’s dealership attribution is a new “key” measurement of our vendor’s success. How does your tool help us as dealers make more profit? How do I know that it is working to my benefit? …
Attribution: How does your dealership measure up? Read More »
