January 2021 Blog Posts (14)

Who's Watching the Watchman?

A dealership is a complex organization with a lot of moving parts. With only so many hours in a day, an Owner or GM has to trust the CFO & Controller to handle financials. But as the saying goes: absolute power can corrupt absolutely. Who’s watching the watchman at your dealership?

 

Of course, I’m not saying that every Controller is…

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Added by Travis Peterson on January 20, 2021 at 9:15am — No Comments

Analyzing the Features of Heavy Duty Tarps

Summary: Buying heavy-duty tarps is easy if you know what to consider. Find out all about buying tarps from here.

If you are yet to become familiar with heavy-duty tarpaulin, you need to understand the industrial and commercial purposes. From covering boats, outdoor furniture, grill, boats, and cars, the…

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Added by Harris Scott on January 19, 2021 at 6:12am — No Comments

The Virtual BDC Today

The Virtual BDC is becoming more and more popular for dealerships everywhere. During this pandemic, many dealerships are still not operating at full capacity. Using a Virtual BDC solves this problem. Enabling dealerships to scale business without the burden and expense of having to hire, train, and pay people. A Virtual BDC will fulfill and pace at double the before seen levels.

A Virtual BDC operates with a streamlined process 100% of the time with 100% of the customers. The focus…

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Added by Morgan Hardy on January 15, 2021 at 6:31pm — 1 Comment

Why a virtual BDC is essential for your service department today

The future looks bright for service departments. According to research firm HIS Markit, the average age of a vehicle on the road today is a geriatric (for cars) 11.9 years. People are holding onto their cars longer, which can generate new business opportunities for your service department.

 

However, you can’t just expect a flood of service work. Someone needs…

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Added by Damon Sefa on January 13, 2021 at 1:25pm — No Comments

Cadillac Dealers Betting Big on EV or Taking the Chips Off the Table

As the nation attempts to further reduce emissions, many states have begun initiatives to phase our gas-powered vehicles. At the moment, multiple problems exist if someone were to snap their fingers and make every vehicle electric. On the vehicle and infrastructure side, there is a lack of charging stations and range is limited. While these are increasing…

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Added by Sean Reyes on January 13, 2021 at 11:14am — No Comments

The Kerrigan Index™ Broke Records for Auto Stock Valuations in 2020

 

 After a volatile start to 2020, The Kerrigan Index out-performed the S&P and rose to all-time highs; all seven component companies hit record market capitalizations in 2020  

 

INCLINE VILLAGE, NV – January 13, 2021 – Kerrigan Advisors, a leading sell-side advisory firm and thought leader to auto dealers in the U.S., has released The Kerrigan Index for December 2020/Year in Review. Comprised of the seven…

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Added by Crystal Hartwell on January 13, 2021 at 10:58am — No Comments

Lease Credit Approval Rates Rise to 72.7% in December

Swapalease.com, the nation’s largest car lease marketplace, reports car lease credit applicants registered a 72.7% approval rate in December.  The approval rate is significant considering approval ratings hit a low of 63.8% in April, the lowest rate reported since January of 2018.

With the holiday season being an optimal time to buy or lease a vehicle, it is no surprise that approval ratings saw an increase in December. According to Experian’s…

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Added by John Sternal on January 13, 2021 at 9:01am — No Comments

What is a Virtual BDC?

                Are you familiar with a VBDC? A Virtual BDC is designed to take some of the work load off the dealership. The program is designed to offer help by taking the initial inbound call for you. Staff is highly trained to handle the calls accurately 100% of the time. The purpose is not to to change the process that the dealership already has in place, but to improve it. A Virtual BDC does not “replace” your in-house BDC.

               Having a Virtual BDC handle the incoming…

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Added by Morgan Hardy on January 8, 2021 at 6:05pm — 1 Comment

How Kings Toyota Improves Used Car Competitivness

Kenwood Dealer Group is 15 dealerships in the Cincinnati, Ohio market. Dan Kommeth joined in early 2020 to fill a newly created position, Group Sales Director, assigned to strengthen the stores’ competitive advantage.

Convinced that positive customer experiences begin well before a lead or walk-in arrives, Kommeth started his new assignment by investigating processes that flow into profitable car sales.…

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Added by Jim Leman on January 7, 2021 at 9:34am — No Comments

Buried in Deal Paperwork? How to Cut the Clutter.

A glance into any dealership accounting office reveals a lot of paper. That’s because selling cars creates a LOT of paperwork. Although a “paperless” office may be the holy grail, we’re not there yet.

States require certain paperwork, and they insist you keep it. Retention periods vary by state, but the result is paper deal jackets crammed into filing cabinets, stored in piles of teetering cardboard boxes in unlocked offices, or jammed into storage facilities.…

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Added by Travis Peterson on January 6, 2021 at 2:21pm — No Comments

Is Your Intention Better Retention? Well, Prove it!

Customer retention can be tough. Independent repair shops lure customers away in droves with coupons or offers that promise low routine maintenance pricing. However, winning consumers on price alone is a short-term victory compared to winning over their loyalty for the long haul with quality work, certified technicians, and impeccable service. Luring them…

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Added by Sean Reyes on January 6, 2021 at 9:09am — No Comments

5 Van Conversion Companies That Can Build Your Dream Van

If you want to build your dream van, you should start looking for the best conversion companies. A lot of people prefer to build the van themselves but it involves several risk factors. So, it is better to play safe and choose a company that knows how to turn your dream into reality. Luckily, there are so many conversion companies out there, however, you should pick the one that understands your needs and preferences.

Here are 5 best van conversion companies that can build your dream…

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Added by Asad Shoaib on January 5, 2021 at 8:11am — No Comments

An Insight of the Tips of Availing Flatbed Truck Towing

If you require towing services in Florida then where will you go? You can visit the business website of Adam Towing and Recovery and avail their first-class towing services at affordable costs. The business offers to its customers a range of towing services including Flatbed truck towing in Orlando, accident recovery towing, light-duty towing, medium duty towing, low profile sports car towing, construction equipment towing, long-distance towing, marine towing, motorcycle…

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Added by Aadam Alford on January 5, 2021 at 12:33am — No Comments

How To Put Together a Kick-Ass Sales Management Team

AS AN EXECUTIVE MANAGER, WHAT DO I EXPECT OF MY TEAM?



My concepts include management is every manager's job description. Every manager is a specialist with a specific area of responsibility BUT anytime something needs to be handled, it is YOUR responsibility.…

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Added by James A. Ziegler on January 4, 2021 at 4:30pm — No Comments

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