This week, Jeff begins a series on how to make 2019 your best year in service yet! He answers questions that are most commonly asked during this time of the year, such as: Are you in the right career? Are you working for the right people? What opportunities have been missed? Stay tuned to hear some motivating tips and encouragement for 2019 success. Copyright 2018 Wm Jeff Cowan
Dealers are constantly inundated by trainers vying for their business. These trainers promise exponential success in sales and profits when they do. Many, however, are one-shot wonders in the sense that they come in, perform their training, get your staff pumped up and leave. What happens then? Chances are the lessons or knowledge that they may have learned…
According to Black Book® data, the average price of a used vehicle for model years 2013-2017 changed -2.5% during November. Cars changed -2.7% during the month and trucks changed -2.3%. Average 12-month depreciation at the end of November for all vehicles was -12.5%.
Three segments saw monthly depreciation less than -1.0% during November: Sub-Compact Luxury CUV (-0.8%), Sub-Compact Crossover (-0.9%), and Full-size Van (-0.9%). Vehicles in Sub-Compact Luxury Crossover segment include…
Employee engagement means a lot in car dealership business. Engaged employees can make your business and disengaged employees can't only decrease the sales but can also lead customers' dissatisfaction and efficiency in organizational tasks. In this forum posts, I am going to tell you some effective tips to keep your employees engaged.
Successful dealerships strive to recruit, hire, and retain the best-available management talent. Once that talent is on board, effective performance management processes must be in place to provide these yet-unproven (to us) managers with feedback on their work results and to ensure that they are receiving the tools and support to become high achievers. So I always ask my potential client-dealers to describe their method of evaluating the overall competence of the…
When I was teaching the Sonic Dealer Academy from 2001 through 2008, my co-instructor, Steve Hallock, became famous for asking each class, “Why do you think we spend so much time talking about the Service Department? It’s because, at a 75% gross profit margin on labor sales, this department offers, by far, the greatest incentive to increase sales. That was then, and many dealership owners and managers looked at service gross potential that way.
These days, however, I’m coaching my…
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Owning a business is a perfect path to increase personal wealth. If you have an interest in automobiles, have worked as a mechanic before – starting your own auto repair shop is the best…Continue
This week, Jeff begins a series on how to make 2019 your best year in service yet! He answers questions that are most commonly asked during this time of the year, such as: Are you in the right career? Are you working for the right people? What…Continue
According to Black Book® data, the average price of a used vehicle for model years 2013-2017 changed -2.5% during November. Cars changed -2.7% during the month and trucks changed -2.3%. Average 12-month depreciation at the end of November for all…Continue
So, you would like to own your own business and maybe make some money so that you do not tie yourself into lengthy mortgages. That is absolutely wonderful. Many people think about becoming self-employed yet fail to do something because they are…Continue
Data from both Jumpstart Automotive Media and Black Book supports how car shoppers are increasingly looking at used vehicles over new in 2018.
According to Jumpstart,…Continue
One might get hit by financial emergency at any stage of time, especially when one expects it the least. With lesser savings and more expensive lifestyle, most of the people find it difficult to deal with the…Continue
With the growing popularity of care share programs, self-driving technology could be a game changer for urban traffic systems. A new study looks at how the Swedish capital's transport grid could be transformed. A fleet of shared self-driving cars in…Continue
How do you maximize your website and website traffic to the fullest? Spending so many ad dollars and funds to acquire website traffic is such a investment for dealers. Let's say you are awesome and your website traffic converts "at best" at 10%,…Continue
We all know many dealers still make money the old fashioned way, in spite of themselves. If we want to attract top notch professionals to our industry we need to be able to quickly identify attributes of the poorly managed and not employee focused…Continue
Traditional Advertising, is it truly over as many might say?I've found that there are different environments, climates and demographics that call for traditional advertising! Although Social Media is on the move and in my opinion will be sooner than…Continue
I am currently needing advice with regards to CRM software for our dealership, we have something sort of close but very antiquated, that said, I thought that I understood the functionality of said software however I may have been sort of blind to…Continue
March 22nd, 2012 – Charlotte, NC - The…Continue
We have agreements with about everyone....had a terrible experience with Carsdirect 72 leads 0 sales...and customers seem to use it as a wish lists...for new or used...not to mention I hate that they have a site to tell me how much I should be…Continue