4 Operational Pearls From Roger Penske


I had the privilege of hearing Roger Penske, head of Penske Automotive Group, share his perspective on the car business today during a Q&A session with Cox Automotive president Sandy Schwartz. The session is part of a Cox leadership team meeting this week in Fort Lauderdale, where we’re gathered to sharpen our knowledge and understanding [...]

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3 Essential Steps To Maximize Gross Profits On Auction Cars


If you ask dealers for their top complaint about the used car business, many will say it’s difficult, if not impossible, to acquire wholesale vehicles “on the money.” Dig a little deeper, and the root of the complaint becomes clear—dealers believe they can’t make the gross profit they would like to see in their used [...]

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An Independent Perspective On The Used Car Business


TJ Riley isn’t your typical independent car dealer. For one thing, he’s a lot more disciplined than many franchise and independent dealers when it comes to buying vehicles at auctions. “If you walk out to the Dallas Auto Auction on a Wednesday, it’s just eye-opening the amount of dollars changing hands, based solely on the [...]

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vAuto’s Mandi Fang Earns An Automotive Honor


I love it when somebody I know gets recognition they deserve. Many years ago, I found myself on the opposite side of a table with a very impressive woman. I remember her tenacity as a negotiator, as well as her command of minute details related to the deal at hand. She stood tall at a [...]

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4 Ways To Turn Auction Cars Into Advantage At Your Store


You could say auction cars offer a blessing and a curse for dealers. The blessing is that auction cars are always available—offering a way for dealers to acquire inventory they need that they can’t get through trade-ins. For most dealers, auction cars make up 30 percent or more of their used vehicle inventory. But auction [...]

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NADA 2016 Wrap-Up: A Few Thoughts As The Convention Closes


For much of the past year, I’ve been concerned that dealers might be forgetting that the car business is cyclical. I worried that dealers would take the past five-plus years of record-setting growth in new and used vehicle sales for granted. That they would overlook the reality that the good times simply can’t last forever. [...]

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NADA Day 3: A Touching Moment That Inspires And Transcends


I need to go off the reservation for today’s NADA dispatch. It’s not that today’s time on the NADA exhibit floor wasn’t noteworthy. Rather, it’s because something far more personal and profound occurred elsewhere—at the Baccarat Bar at the Bellagio Hotel. Something that brought tears to my eyes, and that I’ll treasure forever. I had [...]

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NADA Day 2: A Few Firsts From The Floor


It was a lively, long day on the exhibit floor at NADA on Friday. A dealer joked, “Dale, I heard things weren’t going so well, and that you’re selling socks at NADA this year.” The truth is, I was giving away Stockwave-themed socks as part of our launch of the innovative wholesale sourcing solution. I [...]

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NADA Day 1: Cox Lays Plans For A Successful NADA


I had an eye-opening thought while standing before hundreds of Cox Automotive team members gathered for pre-NADA meetings here in Las Vegas. In all of the 47 years I’ve come to NADA, there’s never been a company with the scale and scope of produc ts and solutions that Cox Automotive offers to dealers—as well as one [...]

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Final Countdown: Stockwave Is Set To Sail At NADA


Thanks to the Cox Automotive family, Stockwave has started strong. We’ve signed up hundreds of dealers in our lead-up to Stockwave’s official debut at the National Automobile Dealers Association convention in Las Vegas. It’s really a proud moment for all of us at Cox Automotive, given that Stockwave represents the first broad-scale example of our [...]

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