How Data Science Drive More Profitable Used Vehicle Pricing - Cox Automotive Experience 2021 Session
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Investment-Based Method
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Master the Margins with ProfitTime 2.0
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How ProfitTime 2.0 and Strong Retail Demand Will Benefit Dealers
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A Better Way to Price Used Vehicles Arrives
It’s a big week for vAuto as we unveil ProfitTime 2.0 at the Cox Automotive Experience, a precursor to the system’s official launch at the upcoming virtual National Automobile Dealers Association...
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Introducing ProfitTime 2.0 with Profit-Driven Pricing
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ProfitTime 2.0 Offers Superior Investment Management Power
It was a big step for the industry when vAuto officially launched ProfitTime two years ago. For the first time, dealers had the ability to know the investment value of every used vehicle in their...
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ProfitTime in Practice: Discipline Drifts in Today’s Retail Tailwinds
I’ve spent way more hours than I can count on airplanes in the past decade. Truth be told, I miss the travel and the daily get-up-and-go routine it requires. But current market conditions remind...
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ProfitTime in Practice: Finding Balance in a Bipolar Used Vehicle Market
I’ve noticed what might be considered a case of bipolarity in used vehicle inventories at dealerships across the country. On one hand, there’s a sizable share of vehicles dealers purchased a month...
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ProfitTime in Practice: A Pandemic Teaches Important Lessons
For much of the past three months, I’ve been on a near-constant cycle of phone calls and conversations with dealers about their used vehicle business, conditions in the current market and next...
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ProfitTime in Practice: Should You Buy a “No-Gross” Car?
Across the country, dealers are complaining that they can’t acquire used vehicles at auction for the right money. The complaint most often comes from dealers who have seen strong retail sales in...
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A View of ProfitTime’s Utility in Today’s COVID-19 Pandemic
I’m seeing dealers take one of two paths as they work to right-size their used vehicle inventory costs and counts to fit current market conditions in the COVID-19 pandemic. The first path might be...
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ProfitTime in Practice: A Dealer Shares Three Profit-Positive Take-Aways
It’s not easy to change long-standing beliefs and best practices. Just ask Tim Nelson, general manager at Beaverton (OR) Honda. He has led the store’s transition from a successful run as a...
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A Meaningful Trip to Recap Our First Year With Provision ProfitTime
I’m heading to Austin, Texas, to share insights and observations from the first year of vAuto’s Provision ProfitTime journey with the vAuto data scientists and developers who helped us bring this...
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ProfitTime In Practice: A Question About Bronze and Silver Vehicle Quantities
A three-store dealer in the Southwest recently got worried about a drop in the Provision ProfitTime Investment Score for his used vehicle inventory. He and his team generally liked to see their...
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vAuto Performance Management Meeting: A Special Award and Heartfelt Send-Off
I had the honor and privilege of attending the annual vAuto Performance Management meeting this week in Chicago. My primary job at the meeting was to share some perspective on ProfitTime and the...
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ProfitTime in Practice: Your Price May Not Be As “Good” or “Great” As You Think
I recently raised a caution flag about pricing used vehicles to earn a price value designation from third-party classified sites. Since then, I’ve gained a deeper understanding that pricing your...
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Trader Canada Event
On October 10, I had the privilege of presenting ProfitTime to our Canada dealers. Here is the recorded presentation. A very special thanks to Trader Canada for sponsoring and organizing this...
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ProfitTime in Practice: The Rise (and Risk?) of Third-Party Price Rankings
There’s new concern and conversation about third-party classified sites as dealers begin using Provision ProfitTime. The dialogue relates to the growing practice among third-party sites to rank or...
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ProfitTime In Practice: Does Turn Matter Any More?
For many years, Velocity dealers kept their annualized used vehicle inventory turn rate top of mind. The focus on inventory turn owed to one of the foundational elements of the Velocity Method of...
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ProfitTime Gets Industry Press Time
I was grateful and honored to meet recently with Steve Finlay, senior editor for Wards Auto, and talk about Provision ProfitTime. The conversation led to a piece Wards published this week that...
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