Comments - Are You Preparing For A Weaker Market? - DealerELITE.net2024-03-28T12:23:14Zhttps://www.dealerelite.net/profiles/comment/feed?attachedTo=5283893%3ABlogPost%3A386250&xn_auth=noThanks for the comments Lisa.…tag:www.dealerelite.net,2013-09-11:5283893:Comment:3867162013-09-11T16:06:40.948ZMark Tewarthttps://www.dealerelite.net/profile/MarkTewart
<p>Thanks for the comments Lisa. I certainly hope dealers are reading this, lol</p>
<p>Thanks for the comments Lisa. I certainly hope dealers are reading this, lol</p> Jim, Mark and Kevin.....glad…tag:www.dealerelite.net,2013-09-11:5283893:Comment:3864872013-09-11T14:41:25.727ZLisa Bundyhttps://www.dealerelite.net/profile/LisaBundy
<p>Jim, Mark and Kevin.....glad to see we all agree on being prepared. I used the same philosophy in both the dealership and the finance company. Sales people and collectors are no different. I actually hired people based on their attitude instead of only their skills. I could train skills but not attitude. However, too many dealers and finance companies undervalue "pumping up the staff". You see this in sports teams, where they have a "rah, rah" session just before the game. After…</p>
<p>Jim, Mark and Kevin.....glad to see we all agree on being prepared. I used the same philosophy in both the dealership and the finance company. Sales people and collectors are no different. I actually hired people based on their attitude instead of only their skills. I could train skills but not attitude. However, too many dealers and finance companies undervalue "pumping up the staff". You see this in sports teams, where they have a "rah, rah" session just before the game. After reviewing the <strong>plan </strong>(yes, have a plan) for the day and being knowledgeable about the product, pump up the staff......the whole staff (title clerk, receptionist, finance, etc). Remember success is not an individual event, it is a team effort.</p>
<p>By the way, do you think dealers are reading any of this or it's just us trainers? </p> Thanks Gerry! You are so righ…tag:www.dealerelite.net,2013-09-11:5283893:Comment:3864862013-09-11T14:26:15.573ZMark Tewarthttps://www.dealerelite.net/profile/MarkTewart
<p>Thanks Gerry! You are so right. It's what we do and think now that will sow the seeds for the future both good and bad. The auto industry goes up and down but if you have the right behaviors now you can certainly take advantage of lesser times by being positioned properly. Once again, this article was actually written before the Great Recession when things were rocking. Things have been awfully good for a while now and I hope people are building their business muscles to prepare against any…</p>
<p>Thanks Gerry! You are so right. It's what we do and think now that will sow the seeds for the future both good and bad. The auto industry goes up and down but if you have the right behaviors now you can certainly take advantage of lesser times by being positioned properly. Once again, this article was actually written before the Great Recession when things were rocking. Things have been awfully good for a while now and I hope people are building their business muscles to prepare against any upcoming trauma.</p> Your are spot on. We've just…tag:www.dealerelite.net,2013-09-11:5283893:Comment:3864702013-09-11T11:33:40.124ZGerry Fraenkelhttps://www.dealerelite.net/profile/GerryFraenkel
<p>Your are spot on. We've just had our best month ever and you can see salespeople getting complacent. We all know that in market downturns the strong increase market share. Just as dealerships must have a strong value proposition, salespeople need to have their unique selling proposition and continue to honor the process. In doing so, referrals will be generated and that should be the basis of new business. </p>
<p>Your are spot on. We've just had our best month ever and you can see salespeople getting complacent. We all know that in market downturns the strong increase market share. Just as dealerships must have a strong value proposition, salespeople need to have their unique selling proposition and continue to honor the process. In doing so, referrals will be generated and that should be the basis of new business. </p> Jim, I could not agree more.…tag:www.dealerelite.net,2013-09-11:5283893:Comment:3861902013-09-11T00:20:55.334ZMark Tewarthttps://www.dealerelite.net/profile/MarkTewart
<p>Jim, I could not agree more. Your comments are spot on. </p>
<p>Jim, I could not agree more. Your comments are spot on. </p> Good article. I know things…tag:www.dealerelite.net,2013-09-10:5283893:Comment:3861852013-09-10T22:38:54.729ZJim Boldebookhttps://www.dealerelite.net/profile/JimBoldebook
<p>Good article. I know things have been on fire the last few months and good most of this year, but I don't think we are out of the weeds yet. 'real income' for most folks is down 3-5% and even though inflation is low, general costs of living, in particular food/fuel are up. We are enjoying a period of a lot of 'gotta buys' in the marketplace, especially fueled by a renewal of some low lease rates. many of these buyers are unburdened by negative equity because they haven't bought new car…</p>
<p>Good article. I know things have been on fire the last few months and good most of this year, but I don't think we are out of the weeds yet. 'real income' for most folks is down 3-5% and even though inflation is low, general costs of living, in particular food/fuel are up. We are enjoying a period of a lot of 'gotta buys' in the marketplace, especially fueled by a renewal of some low lease rates. many of these buyers are unburdened by negative equity because they haven't bought new car is 6-7 years. I'm in the mindset of the dealer who doesn't allow 'negative thinking' at the dealership, however, I'm also a strong proponent of using good times to fortify the foundation, weed out the chaff, tighten expenses, train train train and don't take any deal for granted. Don't pay attention to benchmarks or averages.... constantly work to excel/exceed and beat your own numbers with a keen focus on profitability. Pay down debt. liquidity is king.</p>
<p> </p> Thanks Kevin and so true. I m…tag:www.dealerelite.net,2013-09-10:5283893:Comment:3861832013-09-10T22:27:39.475ZMark Tewarthttps://www.dealerelite.net/profile/MarkTewart
<p>Thanks Kevin and so true. I must admit that this article was written before the Great Recession. I ran this post again just as a wake up. We are in a really good car selling environment right now and it's easy to lose the fundamentals.</p>
<p>Thanks Kevin and so true. I must admit that this article was written before the Great Recession. I ran this post again just as a wake up. We are in a really good car selling environment right now and it's easy to lose the fundamentals.</p> Regardless of an impending ec…tag:www.dealerelite.net,2013-09-10:5283893:Comment:3864482013-09-10T22:12:33.017ZKevin F. Cunningamhttps://www.dealerelite.net/profile/KevinFCunningam
<p>Regardless of an impending economic downturn, it is vital business owners and leaders maintain the mindset and status of a disciplined operation.</p>
<p> </p>
<p>Regardless of an impending economic downturn, it is vital business owners and leaders maintain the mindset and status of a disciplined operation.</p>
<p> </p>