7 Calibrations Necessary to Improve Used Car Profitability
Do your buyers and appraisers know how to buy and appraise, so the vehicles they acquire contribute and do not detract from your retail profit potential?
A Bonanza Seeking Investors
T2L is “time to line,” a profit-improvement strategy built on a complete cloud-based platform for managing the time it takes to get used cars from acquisition through reconditioning and to the sales line, or at least to where you know what price to accept to cover recon costs and make money.
How Faster Recon Optimizes “Velocity” Inventory Management
Dale Pollak created the game-changing Velocity model, which advises dealers to manage vehicle inventories as asset investments by studying the market and reading the data to know whether those assets are the right ones for their dealership and their market.
The Future of Vehicle Reconditioning
Jaws dropped as Don Flow, chairman and CEO of Flow Automotive Companies, addressed several hundred dealers and industry affiliates at Automotive News’ recent Retail Forum.
Master the Practice of Profitable Used Car Reconditioning
Here’s a question often asked when dealership group managers gather, which unfortunately typically goes unanswered: “How many of you know your average days in recon?”
Sell at Recon: A Photo-First Workflow Strategy
Used cars offer the best defense against margin compression — and how you leverage reconditioning as an offensive tool makes this work. Getting incoming cars reconditioned and to the sales line quicker can mean healthier gross margins for your used car operation.
On How Not to Get Stuck Between a Rock and a Hard Place
We’re entering a time again where that dangerous spot between that rock and a hard place is staring dealers in the face. The heat is already on, and some dealers are jumping out of the hot water and taking action. I fear too many will not, however, preferring to mush on until the water boils and it is too late.
Time to Line is Great News for Changing Times
I’m talking to the choir here, but auto dealers are champions of making lemonade from lemons, and you’ll need as much of this optimism as you can grasp going forward.
Using the Deming Wheel to Drive CPI and Used Car Profits
When I helped develop workflow models for Hewlett-Packard systems years ago, we applied the Deming Wheel to our efforts. I submit that you should consider applying it to your dealership operations as well. What this device describes and encourages is fundamental to any continuous process improvement (CPI) effort to make your dealership more profitable. Precisely
Why You Need Rapid Reconditioning
At its core, the process of reconditioning trade-in and auction vehicles is a ‘time-equals-profit’ business. Intuitively, used car managers understand this.
