If you’re like most independent dealers, you loaded up on used inventory during the first few months of the pandemic. Inventory shortages and high demand pointed toward selling those cars all day long at higher-than-average prices. Now that the market is beginning to correct, book values are dropping. Are you concerned about moving that inventory?
2020 has been an unexpectedly challenging year for dealers. The coronavirus continues to affect nearly every facet of our business.
But whatever the timeframe, at some point we will return to a sense of normalcy. Finishing the year strong is key to ensuring your dealership will be able to hit the ground running, no matter what 2021 brings.Continue
As profit margins continue to shrink on new vehicles, what’s your strategy to make up some of that lost profit? I’ve talked with dealers who are pushing more extras like extended warranties, buying more leads or hiring more staff. But we all know that in this type of market, trying to stay competitive can be a race to the bottom and additional expenses don’t always equal results.
I believe a better strategy is to focus on increasing your volume and decreasing your trade…Continue
When you see someone using their smartphone, what is your first impression? Do you assume that person is engaged in personal business or professional business? Logically there’s no way to know because people use their smartphones for both reasons.