A Velocity Dealer Turns Up The Heat—And Keeps It Hot

09.04.2014

You might say the month-in-month-out focus of automotive retailing is both a blessing and a curse. It’s a blessing when you’ve had a bad month. As the next month starts, the pain of a poor prior month tends to fade quickly. Conversely, the month-to-month mindset is a curse when a really good month cascades into [...]

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A Consumer Perspective On Vehicle Financing, F&I Practices

08.22.2014

  There’s been a fair amount of hand-wringing in the industry following the recent New York Times editorial that addresses the rise of vehicle financing for credit-challenged buyers and how some deals make their financial situations worse. The piece calls for greater regulation of the market and rules that would prohibit dealers from “gaining additional [...]

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A Parallel Between Electronic Dance Music and Retailing New/Used Vehicles

08.18.2014

On Sunday, The New York Times published an article about efforts by organizers of the Electric Zoo Festival, a three-day electronic dance music (EDM) event in New York, to curtail drug use among attendees. A year ago, the event shuttered a day early after two people died from apparent drug overdoses. In more recent weeks, [...]

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One-Price Dealers’ Time Has Come

08.15.2014

Below is a comment and my response to a recent blog posting, questioning the success of one-price dealerships. (if you’ve read the initial conversation, there’s more below.  Scroll down to “Additional Thoughts”) Good afternoon Dale I had the pleasure of reading one of your articles today. I found it interesting. However, it would be also [...]

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Two Bright Stars Shine In East Tennessee

08.08.2014

My travels this week took me to East Tennessee to visit two dealers, Daniel Johnson, GM of Johnson City Toyota and Dustin Walters, GM of Friendship Hyundai. The visits were part of a larger Cox Automotive program that aims to help dealers earn financial rewards from their investments in AutoTrader.com, Manheim and software companies like [...]

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Dealers As Hunter-Gatherers Or Farmers—Where Do You Stand?

08.06.2014

Here’s a question that’s had me thinking: Has the evolution of the automotive retail business reached a point where dealers need to stop hunting and start farming? The question came to mind during a conversation with an industry analyst. He offered an anthropologist-type view of the industry—some dealers are hunter-gatherers, while others appear to have [...]

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A Closer Look At The Evolution Of Used Vehicle Inventory Age Benchmarks

08.04.2014

It wasn’t too long ago that dealers routinely kept used vehicles for 90 days as retail units. More recently, dealers have adjusted this retail timeline to account for rising price competition and transparency spurred by the Internet, as well as the always-increasing costs of keeping cars in retail-ready condition on your lot. It’s now common [...]

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Dealer Discovery: Why “Total Gross” Matters Most In Used Vehicles

08.01.2014

I had an e-mail exchange with a Chicago-area Honda dealer the other day that I think is relevant for all dealers, especially those who have adopted the Velocity Method of Management. The dealer asked two important questions—What’s the optimal percentage of used vehicle inventory that should be maintained under 30 days of age?, and, What’s [...]

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vAuto Dealers Shine On AutoRemarketing Top 100 List

07.29.2014

It made me happy the other day to peruse AutoRemarketing’s Top 100 (Franchised) Used Car Dealers for 2014. As I was going down the list, I kept seeing familiar names—stores where vAuto has played a role in helping dealers take their used vehicle operations to the next level. All told, we counted 43 vAuto customers [...]

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Forecast Alert

07.22.2014

Numerous reports are filtering in from across the country citing geese delivering root beer. Sightings have confirmed that these are not drones, but in fact real geese. Consultation with forecast analysts confirms the fact that there is a 100% chance of root beer delivery from coast to coast. Experts advise all affected populations to immediately [...]

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