When Family’s On The Line, Cox Really Shines

10.29.2014

  I had a rough, and pretty scary weekend. This past Friday night, my son Alex called from the emergency room at Emory University Hospital. He was suffering from severe abdominal pain. I did my best to comfort him over the phone, and we exchanged messages through the night as the medical team conducted multiple [...]

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A Look At The Perils Of Positive Thinking And Selling Cars

10.28.2014

  I was fascinated by a column in the New York Times that suggests that too much positive thinking can be a bad thing. The author, psychology professor Gabriele Oettingen, has studied the effects of positive thinking and concludes that it “fools our minds into perceiving that we’ve already attained our goal, slackening our readiness [...]

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3 Reasons A “Turn And Earn” Strategy Eludes Some Dealers

10.24.2014

For the past several years, I’ve been a vocal advocate of the Velocity Method of Management—a market-based inventory management strategy that pushes dealers to turn their used vehicle inventories to maximize return on investment and minimize risk. My advocacy flows from a firm belief that today’s market penalizes dealers who do not make a concerted [...]

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Drilling Down Into Overlooked Used Vehicle Opportunities

10.21.2014

  A quick test: What percentage of your used vehicle inventory do you retail in the first 10 days or less? OK. Time’s up. Do you know the correct answer for your inventory? Relax. I wouldn’t necessarily expect that you’d be able to ace the test. In fact, only a few dealers actually monitor their [...]

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Access: Velocity Wrap-Up: Dealer Take-Aways For The Not-So-Distant Future

10.16.2014

We’re still getting feedback from last week’s Access: Velocity conference here in Chicago. So far, the vast majority of dealer attendees consider the two days spent here as well worth the effort and expense. We also gained insights to make the next Access: Velocity event even better—with a particular emphasis on the real-life dealer-led workshops [...]

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Access: Velocity Day 1: Integration, Insights and Inspiration

10.10.2014

I spoke to a couple dealers as yesterday’s Access: Velocity sessions ran down. A key sentiment: They, like me, felt a touch of information overload from today’s agenda. The following are some of the high-level take-aways I gleaned from today’s sessions with Cox Automotive executives and our dealer speakers, as well as in-the-hall conversations: A [...]

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Access: Velocity Kicks Off Tonight!

10.08.2014

I’ve just spent the past two hours with the vAuto team at the Peninsula Hotel in Chicago, working out final details for tonight’s kick-off of the second Access: Velocity event. I’m extremely excited. Two years ago, we hosted our first Access: Velocity, and this year’s gathering is bigger and better. We’ve brought together nearly 175 [...]

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Two Used Car Lessons From The Secret Service Snafu

10.07.2014

I wouldn’t think that I’d ever find commonality between used vehicles and the U.S. Secret Service. But last Thursday’s news of the White House security breach brought used vehicles to mind. To be sure, losing one’s focus on used vehicle management processes produces less dire potential consequences than lapses among the elite corps of men and [...]

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Say Hello To ListingLogic—A Tool That Drives Better Online Used Vehicle Performance

10.02.2014

Most dealers understand that today’s used vehicle business is an Internet business. That is, buyers size up your cars, prices and reputation online—before they get to your dealership. This reality has led the smartest dealers to recognize that the online performance of their used vehicles provides the single-best indicator of each vehicle’s appeal with potential [...]

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A New/Used Vehicle Parallel: The Devil (And Your Gross) Is In The Details

09.23.2014

Astute Velocity dealers have understood that the “car is the star” in used vehicles. That’s why they go to great lengths to make sure they acquire vehicles with the color, equipment and trim levels that market data affirms will matter most to potential buyers. To be sure, they still acquire and retail “bread and butter” [...]

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