Eat Your Competition's Lunch with New Car Inventory Intelligence - Cox Automotive Experience 2021
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Conquest | Manage Your Dead Stock
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A Call For Balance, Collaboration In New and Used Vehicles
I recently did an interview with CBT News where host Jim Fitzpatrick and I discussed three things dealers should do to better manage their new vehicle inventories. We talked about keeping a...
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A Deeper Dive Into Dealer Trade Efficiency
As franchised dealers work harder to maximize new vehicle sales in the current market, some are taking a deeper look at dealer trades. The dealers are recognizing that, in today’s environment of...
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3 Best Practices To Ease The Current New Car Pickle
Franchised dealers are in a bit of pickle these days. As Automotive News reported this week, new vehicle inventories have risen to their highest level since July 2017. The estimated tally of 4.2...
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Changing Times: A Call For A Money-Making Operational Mindset
If anyone needs evidence that car dealers can no longer simply sell cars to make money, I’d offer the following nuggets from the recently released, NADA Data 2018: Annual Financial Profile of...
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NADA Day 3: Final Day Reflections
All eyes were on the weather on the final day of NADA. Not the weather in San Francisco, but elsewhere across the country. Forecasts of snow and sub-zero temps made some wonder whether they’d get...
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NADA Day 1: A Hunger To Build, Improve Business
Maybe it’s just me, but it seems like dealers at this year’s National Automobile Dealers Association (NADA) convention in San Francisco are especially hungry for ways to build and, in some cases,...
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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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3 Keys To More Efficient New Vehicle Inventory Management
Perhaps it’s telling that, as of today, no one has commented on the Automotive News piece that discusses how dealers will face a “tough slog” in the months ahead in new cars. The reason, I...
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A Metric That Merits More Attention—Your Used/New Sales Ratio
When I was a dealer, we thought we were doing a pretty good job if we managed a .5:1 used-to-new-vehicle sales ratio. If we retailed 50 new Cadillacs a month, I expected that we would also sell 25...
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3 Pillars Of A Stellar Used-to-New Vehicle Sales Ratio
A recent Automotive News article discussed how, even among top dealer groups, it’s difficult for some dealers to achieve a 1:1 used-to-new-vehicle sales ratio. The article noted that among the top...
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4 Misunderstandings About Price In Today’s Auto Retail Market
Old beliefs and habits definitely die hard. Take the way many dealers still think about their new and used vehicle prices: Dealers control vehicle prices. I’m not talking about the obvious point...
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A Sign of New Vehicle Inventory Imbalances
I had an old rule of thumb when I was a dealer: You could get a bead on new vehicle inventory imbalances by the number of full-page ads in the Chicago Tribune on Sundays.. If the paper’s...
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How The Little Things Determine Your Car Business Success
“It’s life by a thousand little things, or death by a thousand cuts.” A dealer recently shared this line as we were discussing how the car business has changed in the last 25 years. The dealer’s...
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A Longer-Term View Of Digital Retailing For Dealers
Dealers often have an “all or nothing” view of digital retailing. That is, to them, digital retailing represents the full monte of selling a new or used vehicle online. You’d have a “buy it now”...
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What’s Your Course Correction In New Cars?
I imagine there have been a lot of long faces on dealers as they reviewed their financial statements from last month. Not only did many dealers see fewer deals in their new car departments...
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3 Keys To Increase Your New/Used Vehicle Throughput and Profitability
We’ve arrived at an interesting time for retail sales of new and used vehicles. Both sides of the business face a market supply/demand imbalance, which raises risk for dealers. In new vehicles,...
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Chevy Bolt Pricing: A Sign Of The Times
I was intrigued by an Automotive News article this week that highlights pricing disparities among dealers as the new Chevrolet Bolt EV arrives in showrooms in select markets. The story notes a mix...
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NADA 2017: A Milestone Moment For Our Industry
It’s fitting that this year’s National Automobile Dealers Association convention will occur in New Orleans. What better place to celebrate NADA’s 100th anniversary than the city where “laissez les...
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