How to Cast a Wider Net at Online Auctions - Cox Automotive Experience 2021 Session
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Auction Buying
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Keeping Pace as the Wholesale Market Turns
In this vAuto Podcast episode, Patrick Janes shares strategies dealers and used vehicle managers can use to find acquisition opportunities as the wholesale values adjust to more normal conditions.
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3 Keys to Smarter Wholesale Sourcing eBook - Manheim Dashboard
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Northwood University Inventory Experiment Part 1 - vAuto Podcast April 2021
Posted June 4, 2021 - In this vAuto podcast episode, Patrick Janes, director of business development for Stockwave, joins Northwood University instructor Jennifer Patton, dealer Mark Bush of Bush Auto
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Final Countdown: Stockwave Is Set To Sail At NADA
Thanks to the Cox Automotive family, Stockwave has started strong. We’ve signed up hundreds of dealers in our lead-up to Stockwave’s official debut at the National Automobile Dealers Association...
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Two Product Launches, Two Decidedly Different Timelines
I’m both a little amazed and humbled by the success of Stockwave, a tool that helps dealers efficiently source wholesale vehicles. In less than 30 days after the product’s official launch at the...
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A Call for Caution As Dealers Return to Auctions
It’s good to feel good about the current state of the retail used vehicle market. Retail sales are off last year’s totals by single-digit percentages, up significantly from the near-standstill...
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A Call to Return to Retail-Back Used Vehicle Acquisitions
Since the start of the COVID-19 pandemic, everyone’s had their eyes on wholesale values for used vehicles. The focus on wholesale valuation benchmarks like Manheim’s MMR was necessary because the...
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A Deeper Dive for Dealers: Current Wholesale, Retail Conditions
I had the honor and privilege yesterday to serve as the featured speaker in the first installment of Cox Automotive’s webinar series, Continuity & Recovery Perspectives for Auto Dealers. We had...
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Access Velocity Day 1: A Game of Inches and Investments
I heard the same thing time and time again from dealers at Access: Velocity. After all the effort, energy, money and time invested in retailing new and used vehicles, there just isn’t as much...
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Where Can I Buy Cars?
The below is a post taken from my good friend and industry training expert, Tommy Gibbs’ Zinger. Where Can I Buy Cars? Posted on August 21, 2018 by Tommy Gibbs If I get asked this question once a...
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Three Pointers To Maximize Purchased Unit Profitability
I’ve heard more complaints lately from dealers that it seems impossible to acquire wholesale inventory and make the front-end gross profit they expect. Indeed, if you compare the typical Cost to...
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3 Opportunity Costs You Should Consider Trimming
As more dealers think of ways to adjust to today’s margin-compressed environment, cutting costs becomes a primary topic of conversation, if not decisions. It’s a good exercise. It points your...
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Two Perspectives On Sourcing Auction Vehicles
Let’s imagine there are two dealers in the auction lane, bidding for the same car. The first dealer wants the car because he’s sold a few of the same units recently, and did pretty well in terms...
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4 Reasons To Rethink How You Source Auction Vehicles
“How has your auction-sourcing process changed in the past 12 to 18 months?” I’ve been asking dealers and used vehicle managers this question a lot lately. It’s interesting to note the four...
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3 Troubling Auction Sourcing Inefficiencies
I’ve recently gained a deeper appreciation for the tireless efforts of used vehicle managers and buyers charged with acquiring inventory from auctions. Many spend half their time at work, plus...
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3 Reasons A Chief Complaint About Auction Purchases Falls Flat
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...
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Sourcing Auction Vehicles: What You See Is What You Get
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...
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5 Pointers To Preserve and Protect Profitability As You Acquire Used Vehicles
Most dealers would agree that you make your money in used vehicles when you acquire a car. If you pay too much for an auction or trade-in vehicle, you’ve shrunk the spread between your costs to...
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3 Essential Steps To Maximize Gross Profits On Auction Cars
If you ask dealers for their top complaint about the used car business, many will say it’s difficult, if not impossible, to acquire wholesale vehicles “on the money.” Dig a little deeper, and the...
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