I’m seeing it day after day. At almost every dealership. It’s what can only be described as a problematic, two-pronged pricing problem. I’ll dig into the problem in a moment. But first, I must...
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‘Tis the season to be thinking about baseball. Here in Texas, a lot of people are hoping the Houston Astros live up to their potential as 2022 World Series favorites.
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Across the country, the share of distressed vehicles in dealer inventories is rising. On the surface, a rise in the number of distressed vehicles in a single dealer’s inventory isn’t necessarily...
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A little more than 60 days ago, when Gettel Automotive in Bradenton, FL, began using ProfitTime GPS in earnest, Kurt Fisher, director of pre-owned operations for the 18-store group, knew he’d have...
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It’s a pivotal time for dealers retailing used cars as they head into the final quarter of 2022. Why pivotal? Well, there’s been a marked shift in consumer and dealer sentiment about where the...
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Two things occurred in the past week that prompt this call for dealers to be ready for a rougher run in used vehicles for the remainder of the year than many, including me, have expected. The...
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I’m seeing more fault lines around certified pre-owned (CPO) sales that, over the years, have become the backbone of used vehicle departments for many franchise dealers. The fault lines aren’t...
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When Mike Cirona, general manager of Scott Robinson Honda in Torrance, CA, initially heard about ProfitTime GPS, he didn’t think his store’s used vehicle department would benefit from it. “I...
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Three market conditions have converged to cause dealers and used vehicle managers to return to inventory age management policies that call for immediate wholesaling of vehicles that reach 45 or 60...
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In the past few weeks, I’ve come to understand what I’d call a “new car masquerade” in used vehicle departments across the country. Perhaps the circumstances are familiar at your store: The new...
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As the used vehicle market returns to more normal conditions, I feel compelled to reiterate a perspective on retail price sensitivity that seems to have been lost over the course of the past two...
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A couple months ago, an associate asked if I’d heard or seen any chatter among dealers about an apparently crowd-sourced site (www.markups.org) that listed new vehicle markups and the dealers who...
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I thought I’d put out a quick post to highlight that, after production and supply chain delays, my latest book, Whole Truth: A Fresh Money-Making Method to Wholesale, the Most Misunderstood Side...
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If you follow the news and related commentary on social media, you may well be thinking that the United States is heading toward a recession, if we’re not already in the initial stages of one....
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As we close in on the halfway point of 2022, I think most dealers would agree with the following statement: While used vehicle sales and profits remain solid, they are nothing like they were at...
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I received a humbling and significant honor from NIADA (the National Independent Automobile Dealers Association) yesterday at the group’s convention in Las Vegas. They presented me with a Ring of...
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If you scrolled the clock back 15 or 20 years, you’d find very few dealers who managed their used vehicle inventory in what we now call “buckets.” Rather, dealers managed used vehicles in...
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Most dealers would agree that acquiring inventory over the course of the past two years has grown more complex and difficult. We now understand that, if you want to maintain, if not grow, your...
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I’ve been busy the past week, helping my wife, Nancy, pack our belongings into boxes as we officially relocate to Austin, Texas. I did an informal poll of family and friends and arrived at a...
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In a recent post, I highlighted how vehicles dealers acquire directly from service customers hold almost as much investment value potential as those they acquire off-lease and from trade-in. The...
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