A Change Of Plans For DrivingSales Executive Summit


I’m disappointed to share that I won’t be speaking at the upcoming DrivingSales Executive Summit in Las Vegas. My purpose at the event would have been to share an important announcement, and offer a vision for the future prosperity of our industry, one that would arrive through technology-driven efficiencies and transparency that benefit dealers and [...]

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Vote For vAuto To Win A Chicago Innovation Award


I’m proud to report that vAuto’s Conquest system is a finalist for this year’s Chicago Innovation Awards. This honor comes after a group of judges selected Conquest from more than 500 other innovations from Chicago-area organizations. If you’re inclined, we’d appreciate your support for a People’s Choice Award, which goes to innovations that receive most online [...]

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A Three-Step Test To Improve Your Used Vehicle Department Performance


I’d recommend that every dealer conduct the following three-part test of their used vehicle department: Step 1: Determine your average cost of inventory. How does this figure compare to three or six months ago? Is it up or down, and by how much? Step 2: Assess your inventory age. What percentage of your inventory is [...]

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3 Keys To CarMax’s Ongoing Used Vehicle Success


I typically find it’s time well spent to keep an eye on how CarMax is doing. That’s why I reviewed this week’s release of CarMax’s second quarter results and related earnings call transcript. Three items caught my attention and seemed relevant for all used vehicle retailers: 1. A disciplined, efficient, technology-driven vehicle purchase process. Dealers [...]

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3 Factors That Impede New Vehicle Sales, Market Share Growth


  For many dealers, the new car business is increasingly all about volume.  This reality doesn’t hold for every new vehicle—particularly in cross-over and truck segments that continue to be sought-after purchases by consumers and yield respectable grosses.  But overall, the business is less about front-end gross profit, and more about volume, than it has [...]

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Combatting Margin Compression Podcast


  On August 25th, Thomas Williams from AutoSuccess and I had a discussion regarding combatting margin compression.  Please listen to our discussion and let me know your thoughts.

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Hireology CEO Talks Dealership People, Processes and Recruiting


The common denominator for high performance are the people in your organization. This simple statement comes as a surprise to no one. In spite of this wide-spread recognition, few dealerships give sufficient attention to the process of recruiting, interviewing and screening perspective employees. Just like everything else, there are proven best practices. The link below [...]

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Three Reasons Dealers Are Unhappy Amid A Strong Market


(AutoSuccess magazine’s blog published a post from me today. I thought I’d share it here, too.) I found myself asking why dealers might be unhappy, despite a new vehicle market that has, and continues to be, quite strong. The question follows an Automotive News article about the recent Dealer Attitude Survey conducted by the National Automobile Dealers [...]

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3 Ways To Increase New Vehicle Pricing Efficiency, Profitability


  I’ve been getting requests from dealers recently to help them evaluate their performance in new vehicles. The inquiries follow dealer concerns about ever-smaller margins on the new vehicles they sell, and a desire to increase market share and volume while maximizing the profitability for every retail unit. These discussions have revealed three curious findings: [...]

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How To Avoid Two Common Sins Of Summer In Used Vehicles


It’s not uncommon for dealers to commit two cardinal sins in used vehicles as summer gets into full swing. The first sin is the impulse to beef up used vehicle inventory to drive additional sales. Every summer, it seems, I hear from dealers who plan to add 30 to 50 units to their used vehicle [...]

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