As we were saying, used vehicle sales and demand continues to rise.

 

There is a lot of news and interest these days surrounding the used vehicle market. Many analysts and industry leaders are surprised by the spike in used car sales and demand, which means many dealers were unprepared for it and didn’t stock...

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The Future to Managing Your Inventory

Amid the coronavirus crisis, the automotive industry has been just one among many to see drastic changes in function. The crowded, fast paced auctions that used to draw thousands of dealers is no longer the go-to source for stocking up on...

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Dealers: Be Open to Change but Keep Things Simple

The way of doing business and buying cars is forever changed due to the pandemic. In normal circumstances, dealers would take some time to explore different solutions that digitized, centralized or modernized all or part of their services and...

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Dealers: Pre-Owned Optimism and Supply Chain Disruption are Creating Dislocation

The way of doing business and buying cars has most likely forever changed due to the pandemic. What we’ve witnessed in the last three weeks has been the fastest “V” shaped pre-owned recovery we’ve ever seen. As the largest auction houses in the...

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Surviving and Thriving Used Auto Sales During and After COVID-19 Pt. 3

What does it mean now that auto sales are categorized as essential, and lights can go on and doors can open? What it doesn’t mean is business as usual. Everyone is faced with a new challenge: How do I operate profitably during this transition to...

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Surviving and Thriving Used Auto Sales During and After COVID-19 Pt. 2

What does it mean now that auto sales are categorized as essential, and lights can go on and doors can open? What it doesn’t mean is business as usual. Everyone is faced with a new challenge: How do I operate profitably during this transition to...

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Surviving and Thriving Used Auto Sales During and After COVID-19 Pt. 1

What does it mean now that auto sales are categorized as essential, and lights can go on and doors can open? What it doesn’t mean is business as usual. Everyone is faced with a new challenge: How do I operate profitably during this transition to...

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8 Reasons for Pre-Owned Optimism

Like you, I have been reading numerous articles about fear gripping the automotive industry and many other industries, thanks to the coronavirus pandemic. The last time I checked, fear has never led to positive outcomes.

It's very easy to get...

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5 Reasons Your Pre-Owned Lot is Underwater & How to Save It

Used car woes are hindering dealerships nationwide, causing a hard hit to profit margins. 

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Important Things to Consider Before Purchasing Used Inventory

A customer is looking to trade in a hot model or you’re ready to place a bid at auction, and you’re eager to take it off their hands. But before you make them an offer, take a step back.

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Add Personalization to Your Dealership’s Email Marketing to Land the Sale

Many used car dealerships are behind in the world of modern marketing practices, still using outbound techniques like mailers, billboards, even inflatables and balloons to advertise. Some businesses are starting to come around— maintaining active...

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5 Lies GMs Tell Themselves About the Auto Industry

As a general manager (GM) of a car dealership, you have a massive amount of pressure on your shoulders to push sales and help your company succeed.

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Automation is Not Just for Driverless Cars

Self-driving cars are one of the most anticipated disruptions, not just for automotive, but for daily life everywhere. For dealers, there’s plenty of headroom to bring automation into their dealerships in a way that keeps them ahead of the curve...

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Auto Insights: Black Book’s Steepest Decline Since January

Black Book announced some stirring news in their Market Insights last month.

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Quit Holding on to your Aged Inventory

Just about everyone has an aging pre-owned inventory threshold, whether it's day 45, 60 or 90. 

Most dealers have a policy in place in which they state the age (in days) that they would like to dispose of a slow-turning unit. And...

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Revving up Growth in the Used Car Marketplace

Bruce Thompson is a lifelong auto retail entrepreneur. At each new venture, something new is learned and applied to the next one, creating a snowball effect of innovation. It’s safe to say that his 20 years of experience has led to the...

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6 Ways to the Auto Industry is Changing & How You Can Adapt

As a general manager or sales professional, you need to keep up with the latest and greatest technology and digital advancements in the auto industry— in order to maintain an edge over the competition. 

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Why Dealers Should Ditch Commercials & Adopt Video to Close More Sales

Back in the day, television commercials helped dealerships immensely. Even just a few years ago, this was a profitable way to promote your business and inventory— but times are changing.

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