A Once-In-A-Lifetime Honor And Opportunity

02.06.2017

I make it a personal priority to give back. I consider myself blessed and fortunate. I know that whatever personal and professional success I’ve achieved owes an awful lot to others. I simply wouldn’t be the person I am today, or at my current station in life, without the gifts of guidance, help and support [...]

1 comment Read more from Dale →

NADA Dispatch 3: Final Reflections On A First-Rate Show

01.30.2017

A colleague asked me this morning to share my single-biggest take-away from this year’s NADA convention in New Orleans. My response: Dealers are sharpening their game. Compared to past NADAs, there were more dealers who noted the “e-word”—efficiency—as they described their plans for the coming year. The dealers correctly understand that improved performance, proficiency and [...]

0 comments Read more from Dale →

NADA Dispatch 2: It Ain’t So Easy In The Big Easy

01.29.2017

There’s a good vibe here in New Orleans. If it were Las Vegas, you might say dealers are doubling down on their technology investments. There are two kinds of dealers who visit the vAuto and Stockwave booths. Those who are looking for a better way, and current customers asking us to help them sharpen their [...]

2 comments Read more from Dale →

NADA Dispatch 1: Inventories, Efficiencies and the Future

01.28.2017

Dealers are pretty clear-eyed about the coming months in the car business, judging from my conversations on the opening day of the exhibit hall at the National Automobile Dealers Association (NADA) convention here in New Orleans. Overall, dealers are generally optimistic that we’ll have another relatively strong year in terms of new and used vehicle [...]

0 comments Read more from Dale →

NADA 2017: A Milestone Moment For Our Industry

01.23.2017

It’s fitting that this year’s National Automobile Dealers Association convention will occur in New Orleans. What better place to celebrate NADA’s 100th anniversary than the city where “laissez les bons temps rouler!” is the order of any day? The anniversary is an important milestone for our industry. If it weren’t for NADA, the enduring strength [...]

0 comments Read more from Dale →

Dealers Aren’t Alone In Facing Hiring, Retention Pressures

01.18.2017

I was struck by several parallels in a Chicago Tribune story this week that highlighted how hiring and retention is a big concern for the nation’s top retailers. The article highlights sentiments from top executives attending the National Retail Federation’s annual convention are grappling with the convergence of sales processes that occur both online and [...]

0 comments Read more from Dale →

Pop Quiz Answer: Packs Are The Root Cause Of The Used Vehicle Problem

01.10.2017

It’s pretty cool to imagine dealers donning white lab coats and analyzing the inventory metrics I shared in my last Pop Quiz post. Five dealers took the time to diagnose why Group 1, the dealership group with the undeniably poorer used vehicle metrics in the quiz, is suffering compared to Group 2. With Market Days [...]

0 comments Read more from Dale →

Used Vehicle Pop Quiz: Why Is One Dealer Doing So Much Worse?

01.06.2017

Take a moment to review the following used vehicle inventory-level metrics from two similarly sized and geographically located dealer groups. Then, I’d welcome your answer to the quiz question below. Inventory Market Days Supply Dealer group 1: 85 Dealer group 2: 73 Cost To Market Dealer group 1: 90 percent Dealer group 2: 84 percent [...]

7 comments Read more from Dale →

4 Ways To Increase Profitability In 2017

01.03.2017

It’s not a very pretty picture when you open the hood on dealer financials in new and used vehicles. Consider the following data from the National Automobile Dealers Association (NADA): New Vehicles: At the end of 2013, dealers had averaged 818 new vehicle retail sales, with an average gross profit of $1,174/car (3.7 percent of [...]

1 comment Read more from Dale →

3 Areas Of New Vehicle Performance Improvement For 2017

12.16.2016

When the temps hit single digits in Chicago, I start thinking about places where it’s a whole lot warmer and more pleasant. This daydreaming led me to think about sunny beaches, and the big wave of success dealers have been riding in new vehicles in recent years. Actually, it’s more like a consistent swell, with [...]

3 comments Read more from Dale →