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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NADA Dispatch 2: Trust, Transparency, Inventory Efficiency and EVs
Beyond the record-setting profitability dealers achieved in the past two years, there’s another blessing that hasn’t received anywhere near the same level of attention. The blessing came in the form of record-setting customer satisfaction.
NADA Dispatch 1: A Buoyant, Busy Day on the Exhibit Hall Floor
It’s good to be back at an in-person NADA convention. No. Check that. It’s great to be back, and it’s a sentiment I heard over and over throughout the opening day of the exhibit hall at the convention.
A Bit of the Whole Truth on Wholesale Profits in 2022
Dealers across the country enjoyed a big blessing last year that previously only big retailers like CarMax, Carvana and some public dealer groups had the opportunity to enjoy.
Understanding the Need for a ‘North Star’ to Guide Inventory Acquisition
We are in a unique moment in the history of the car business when it comes to how dealers acquire inventory for their used vehicle departments.
Will We See A Sudden Change to Used Vehicle Values?
I’ve had several conversations in the past week or so with dealers wondering if we’ll soon see a “burst” in what some have dubbed a used vehicle pricing bubble.
Why Margin Compression May Return in Used Vehicles
While I try to avoid making predictions about the future, recent conversations with industry analysts suggest that market conditions that drove record-setting profitability for dealers in used vehicles may take a darker turn later this year.
A Closer Look at General Motors’ CarBravo Program
Whenever a factory launches a program to sell used vehicles directly to consumers, it gets my attention.
ProfitTime in Practice: A Deeper Dive Into Bronze Vehicle Pricing
When dealers are making record profits and selling all the used vehicles they can acquire fairly quickly, it can be difficult to convince them that their current decision-making could be better or improved.
5 Best Practices that Shaped Used Vehicle Success in 2021
It has been a remarkable year in used vehicles in 2021. Based on what I see and hear, many dealers will enjoy the dual blessing of record-setting used vehicle sales and profits as they close out their books for the year. An even larger number of dealers will celebrate the unprecedented profitability they achieved in used vehicles in 2021, even if they aren’t satisfied with their sales volumes.
A Key Question: Is the Wholesale Market Turning?
Several dealers astutely noticed a slight drop in wholesale values in the past week and asked the same question: Is the wholesale market finally cooling off?
2021 Yields Two Positives to Remember in the Coming Year
As December arrives for dealers, it’s worth reflecting on two positive and proactive things the best dealers did this year to achieve record-setting used vehicle sales and profitability, despite the high cost and relative scarcity of available inventory.
A Look Behind Record-Setting Dealership Profitability
A piece in Automotive News this week underscores a remarkable achievement by dealers across the country. By the end of September, dealership net profit surpassed $3 million for the current year, topping the record $2.1 million in net profit dealers reported for all of 2020.
A Case of Two Less-than-Ideal Choices in Used Cars
If you’re a used vehicle retailer in the current market, chances are better than good that your inventory has a sizable and possibly growing share of vehicles that you own for more money than you can get in the retail market.
A “Miss” that Matters with Customer Vehicle Acquisitions
In a recent post, I shared how dealers run the risk of missing customer vehicle acquisitions when they refuse to pay a customer as much as they would at auction for the same vehicle.
A “Pay Up” Pitfall as Dealers Source Customer Vehicles
Last week, I shared some pointers to help dealers do a better job sourcing vehicles from customers.
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. ..