A Sign of New Vehicle Inventory Imbalances

07.24.2017

I had an old rule of thumb when I was a dealer: You could get a bead on new vehicle inventory imbalances by the number of full-page ads in the Chicago Tribune on Sundays.. If the paper’s automotive section was chock-full of full-pagers, you could reasonably bet that dealers were sitting on, and therefore more […]

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How The Little Things Determine Your Car Business Success

06.26.2017

“It’s life by a thousand little things, or death by a thousand cuts.” A dealer recently shared this line as we were discussing how the car business has changed in the last 25 years. The dealer’s observation strikes me as a perfect, clear-eyed summation of how efficiency, technology and transparency have made retail automotive a […]

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A Manager’s View Of A Volatile Used Vehicle Market

06.19.2017

I had an eye-opening conversation the other day with used vehicle manager Jim Mason of Steven Toyota, Harrisonburg, VA. We were discussing how the dealership’s average front-end gross profit was lagging its target by about $300 for the current month. Mason knew exactly why: The store’s average days in inventory had crept up about four […]

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A Longer-Term View Of Digital Retailing For Dealers

06.06.2017

Dealers often have an “all or nothing” view of digital retailing. That is, to them, digital retailing represents the full monte of selling a new or used vehicle online. You’d have a “buy it now” button on every vehicle details page (VDP) for every vehicle, customers would work their deals, and dealers would deliver “sold” […]

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Dispatches From Down Under: A Great Trip Comes Full Circle

06.01.2017

The other evening I had “a parma and pot.” To explain, I was in a pub to take in a most quintessentially Australian experience. I was there to watch the first match of the annual best-of-three State of Origin series between the Queensland and New South Wales rugby teams. The Series tradition calls for eating […]

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Dispatches From Down Under: Dealers Hungry For Insights

05.31.2017

It’s easy to teach when your students want to learn. That’s a primary take-away from my meetings with dealers in Sydney and Brisbane—the first two stops on my three-city tour here in Australia. In many ways, the car business in Australia is much like it was in the United States nearly a decade ago. The […]

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Dissecting The Elements Of Velocity Down Under

05.25.2017

I’m excited to embark tomorrow on a very unique trip. I’ll be spending two weeks in Australia, helping dealers there better understand the Velocity Method of Management, and how they can use it to increase their used vehicle sales and performance. Interestingly, the challenges and opportunities that margin compression brings to the car business are […]

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What’s Your Course Correction In New Cars?

05.05.2017

I imagine there have been a lot of long faces on dealers as they reviewed their financial statements from last month. Not only did many dealers see fewer deals in their new car departments compared to a year earlier, they also earned a little bit less on those deals than they would like. On top […]

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3 Keys To Increase Your New/Used Vehicle Throughput and Profitability

05.04.2017

We’ve arrived at an interesting time for retail sales of new and used vehicles. Both sides of the business face a market supply/demand imbalance, which raises risk for dealers. In new vehicles, there’s almost an inventory pile-up on some dealers’ lots. Dealership days supply is running well north of the norm. Some dealers don’t even […]

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Pope Francis Calls For ‘Revolution Of Tenderness’ In Surprise TED Talk

04.26.2017

“A single individual is enough for hope to exist, and that individual can be you.” In a surprise appearance via video at the TED 2017 conference in Vancouver, Canada, on Tuesday evening, the pontiff said that tenderness is “the path of choice for the strongest, most courageous men and women.” “Tenderness is not weakness; it […]

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