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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ProfitTime 2.0 in Practice: How the Fallacy of “Fresh Cars” Lives On
There’s a bit of what I would call an investment value disconnect with dealers and their used vehicles that offer the least amount of potential profit return.
Missing the Import of Current Retail Automotive Conditions
It seems as if nearly everyone in the industry, especially dealers, wants answers to two important questions:
Reconditioning Inefficiency Comes Back to Bite–Hard
Amid the current, incredible run of strong retail demand for used vehicles, some dealers are forced to do something many would have considered unheard of in recent years–selling cars to customers and reconditioning them after the deals are done.
Ripple Effects of Current New Vehicle Inventory Constraints
There is absolutely no question that the micro-chip and COVID-19 constraints on factory production and sales of new vehicles has landed franchise dealers in uncharted territory.
Early Signs of a Market Moving to More “Normal” Dynamics
When you boil eggs or pasta on a stovetop, there’s a point when it’s wise to lower the heat to avoid a boil-over. You shouldn’t drastically reduce the heat; you lower it just enough to prevent the boil-over and maintain the cooking process.
ProfitTime 2.0 in Practice: A Case of Moonshots and Missed Shots in Used Vehicles
If you examine how dealers are pricing used vehicles in the current market based on the investment value of each vehicle, it amounts to a tale of two cities. Or, more specifically, it boils down to a case of moonshots and missed shots.
4 Pointers for Acquiring Inventory in an Appreciating Market
With wholesale values of vehicles reaching record highs, dealers are asking if it makes sense to continue acquiring inventory at costs at, near or sometimes above current retail asking prices for the same or similar vehicles.
A Remarkable–and Familiar–Time for Used Vehicle Retailing
This is normally the time of year when I caution dealers about their high hopes for a strong spring selling season in used vehicles. The caution relates to the tendency of dealers to speculate about the future of retail sales, and stock up on cars in anticipation of selling them as customers come out of their winter mode, often with tax refund checks in hand, and start buying used vehicles.
A Better Way to Price Used Vehicles Arrives
It’s a big week for vAuto as we unveil ProfitTime 2.0 at the Cox Automotive Experience, a precursor to the system’s official launch at the upcoming virtual National Automobile Dealers Association convention.
ProfitTime 2.0 Offers Superior Investment Management Power
It was a big step for the industry when vAuto officially launched ProfitTime two years ago. For the first time, dealers had ability to know the investment value of every used vehicle in their inventories.
Three Principles to Fuel Your Fourth Quarter in Used Vehicles
My phone’s been buzzing with dealers asking for input on how they should manage and stock their used vehicle inventories as 2020 comes to close.
Take-Aways from Cox Automotive’s “Dialogue Series”
I’m taking part in a new “Dialogue” series with Cox Automotive. The ongoing series offers dealers and industry stakeholders to ask questions, and get answers, from Cox Automotive leaders. Last week, I received several questions that I thought would be relevant to share here. Below, I’ve included the questions and my responses.
An Unprecedented Market Teaches Three Important Lessons
That’s been the story for dealers during the past several months in used vehicles. As I’ve noted here before, many dealers were able to achieve record-setting levels of sales and profitability in their used vehicle departments—despite the unprecedented combination of the COVID-19 pandemic, huge job losses and a level of economic and social instability that many of us have never experienced.
Why It’s Time to Get Back to Business In Used Vehicles
Like many dealers, I’ve been amazed by the resilience of the retail market for used vehicles during the past four months.
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. ..