Featured MarketeerIan Godbold
Responsible for developing and executing an aggressive digital ROI focused business strategy for profitable growth and increase market share in the automotive dealer sector, whilst effectively integrating online with the core business
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More Eyes on Dealers’ New Vehicle Mark-Ups
A couple months ago, an associate asked if I’d heard or seen any chatter among dealers about an apparently crowd-sourced site (www.markups.org) that listed new vehicle markups and the dealers who made them.
It’s a “Whole Truth” Tuesday!
I thought I’d put out a quick post to highlight that, after production and supply chain delays, my latest book, Whole Truth: A Fresh Money-Making Method to Wholesale, the Most Misunderstood Side of Your Business, is now officially available on Amazon and other retail outlets.
A Rosier View of A Recession, Plus a Moment of Used Vehicle Opportunity
If you follow the news and related commentary on social media, you may well be thinking that the United States is heading toward a recession, if we’re not already in the initial stages of one.
A Mid-Year Gut-Check on Used Vehicle Market Conditions
As we close in on the halfway point of 2022, I think most dealers would agree with the following statement: While used vehicle sales and profits remain solid, they are nothing like they were at this time last year.
A Memorable Honor from NIADA
I received a humbling and significant honor from NIADA (the National Independent Automobile Dealers Association) yesterday at the group’s convention in Las Vegas. They presented me with a Ring of Honor, an award they give to select leaders who advance the growth and professionalism of the automotive industry.
A Call for “Bucket”-Minded Inventory Acquisition
If you scrolled the clock back 15 or 20 years, you’d find very few dealers who managed their used vehicle inventory in what we now call “buckets.” Rather, dealers managed used vehicles in blocks—cars that were less than 60 or 90 days old and those that weren’t.
Where Dealers Get Their Most Profitable Inventory
Most dealers would agree that acquiring inventory over the course of the past two years has grown more complex and difficult. We now understand that, if you want to maintain, if not grow, your share of money-making used vehicle sales, you can’t rely on trade-ins as much as you did in the past.
How Dealers Acquire Inventory from Service Customers
In a recent post, I highlighted how vehicles dealers acquire directly from service customers hold almost as much investment value potential as those they acquire off-lease and from trade-in.
A Top of the Market Moment in Used Vehicles
If you’re a stock investor, the top of the market arrives when the value of an asset or security stops rising and begins to trend downward. The same is true in used vehicles: The top of the market occurs when wholesale vehicle values reach a peak and begin to soften.
A Closer Look at Where Dealers Can Acquire Late Model Vehicles More Profitably
If you’re a franchised dealer looking to stock more one- to three-year-old vehicles in your used vehicle inventory, you’re probably having a hard time lately.
An Encouraging Start for Cox Automotive’s Upside/Upside Direct Wholesale Experience
This past Monday marked the end of the first Upside Direct auction in Atlanta.
Signs of a Softening Retail Market in Used Vehicles
Earlier this month, I noted how retail used vehicle sales in April might be a stage-setter for the remainder of the year. Like many dealers, I was hopeful that sales would take a positive turn—that a shower of sales in mid-to late April might bring flowers in May and beyond.
Will April Bring a Bounce or Bump for Used Vehicle Sales?
All eyes, it seems, are on the used vehicle sales rate for April. Why? Because the month appears to be shaping up as a touchstone of where the market’s headed.
ProfitTime GPS in Practice: Elevating Appraiser Accuracy, Consistency and Performance
It’s been an eye-opening experience as I’ve taken part in early training sessions for dealers who are adopting the new ProfitTime GPS (Global Profitability Solution).
NADA Follow-Up: Two Things That Occurred While We Were Away
One of the nice things about an in-person NADA convention is its all-consuming nature. The convention is the center of the universe for a few days. When you’re there, in the moment almost every moment, it’s not as easy to keep up with what’s going on everywhere else.
A Closer Look at an Uncertain, Unpredictable Used Vehicle Market
Are Car Dealerships the Safest Retail Experience?
Digital Marketing Strategy - A return to a traditional KPI
Desire, Commitment Drive Impressive Used Vehicle Turn-Around
A 2019 Priority: Managing Your Inventory Investment Value
Independent Dealer Realizes His Car Business Dream
4 Misunderstandings About Price In Today’s Auto Retail Market
3 Best Practices To Beat Used Vehicle Margin Compression
3 Takeaways to retail a larger share of vehicles in less than 30 days, and improving overall profitability and ROI in used vehicles.
Key Benchmarks Top Used Vehicle Dealers Achieve to Outpace Others In The US Market
Comment: 3149 Days Ago
3 Best Practices To Beat Used Vehicle Margin Compression
Old habits and expectations are hard to break. More profit made because the sale price increased. ..