6 Benchmarks Top Used Vehicle Dealers Achieve to Outpace Others

10.04.2016

Most dealers agree that if you’re going to profitably and successfully sell a lot of used vehicles, there are many things you have to get right. With this thought in mind, I analyzed the inventories of 60 dealers that made this year’s Automotive News’ “Top 100 Dealership Groups Ranked By Used Vehicle Sales” report. My [...]

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A Used Car Operations Tune-Up With Tommy Gibbs

09.29.2016

I thought I’d put out a plug for my friend, Tommy Gibbs, who is hosting a half-day Used Car Workshop on Wednesday, Oct. 19, in Chicago. Tommy doesn’t do many public workshops. He’s normally busy traveling the country and meeting with dealers/dealer groups in private sessions where he helps them tune up their used vehicle [...]

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3 Reasons A Chief Complaint About Auction Purchases Falls Flat

09.15.2016

It’s not uncommon for dealers and used vehicle managers to complain that “we have to pay too much” to acquire auction vehicles. On one hand, I get it. The auction environment is one where complaints about cost are a natural reaction: It’s your imperative to acquire a vehicle for as little money as possible. Then, [...]

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Performance Matters Podcast Peels the Personal Onion

09.02.2016

I do a fair number of interviews with analysts, reporters, students and others interested in the automotive industry. As a general rule, the best interviews are really conversations, marked by a healthy exchange of ideas and perspectives. Likewise, the best interviewers are those whose curiosities, interests and personalities produce open-ended, thoughtful questions that inspire meaningful [...]

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3 Tips To Tune Up Your Used Vehicle Performance and Profitability

08.23.2016

It’d be wise for dealers to take a deeper look at three aspects of their used vehicle inventories: What percentage of your used vehicles are less than three years old? How does this figure compare to a year ago? For many dealers, 52 percent of their used vehicle inventory is less than three years old, [...]

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Sacred Cows That Merit Scrutiny, And Maybe The Sword

08.03.2016

I recently asked a group of about 20 dealers and used vehicle managers a series of questions: How many of you mow your own lawns? No one raised a hand. After some discussion, it was clear that each individual felt their time was better spent doing something else. How many of you get your groceries [...]

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A Dealer’s Evolutionary Velocity Journey In Used Vehicles

07.29.2016

Nearly a decade ago, I met Brian Benstock, general manager and vice president of Paragon Honda and Paragon Acura in Queens, N.Y. At the time, Benstock thought he was doing pretty well in used vehicles. He retailed 80 units a month, and boasted a front-end gross profit that beat many other dealers. But I wasn’t [...]

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A Call For Improved Effectiveness and Efficiencies In Human Capital Management

07.26.2016

If a new or used car manager made the wrong decision nearly 75 percent of the time, chances are pretty good that individual wouldn’t be working very long at your dealership. Most dealers would agree with this statement. Yet, according to National Automobile Dealers Association (NADA) stats from last year, dealers and their managers appear [...]

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Sourcing Auction Vehicles: What You See Is What You Get

07.19.2016

It’s still fairly common for dealers to offer two complaints about buying wholesale vehicles from auctions—it’s tough to find the right cars, and even more difficult to buy them on the money. The complaints seem somewhat surprising, given there are more wholesale vehicles on the market than we’ve seen in recent years. In 2016, industry [...]

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Reflections On My First NIADA Convention

06.18.2016

I had the privilege of attending my first National Independent Automobile Dealers Association (NIADA) convention this week in Las Vegas. Quite honestly, I wasn’t sure what to expect, but I was pleased to discover many similarities with my experiences at 47 National Automobile Dealers Association (NADA) conventions for franshise dealers. First, many of the dealers [...]

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