ProfitTime 2.0 Product Update
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Used Car
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Provision vRank
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ProfitTime 2.0 in Practice: A Case of Moonshots and Missed Shots in Used Vehicles
If you examine how dealers are pricing used vehicles in the current market based on the investment value of each vehicle, it amounts to a tale of two cities. Or, more specifically, it boils down...
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Ways to Win in Wholesale and Retail - Cox Automotive Experience 2021 Session
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4 Pointers for Acquiring Inventory in an Appreciating Market
With wholesale values of vehicles reaching record highs, dealers are asking if it makes sense to continue acquiring inventory at costs at, near or sometimes above current retail asking prices for...
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5 Reasons to Step Up to Provision ProfitTime 2.0
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A Remarkable–and Familiar–Time for Used Vehicle Retailing
This is normally the time of year when I caution dealers about their high hopes for a strong spring selling season in used vehicles. The caution relates to the tendency of dealers to speculate...
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Take-Aways from Cox Automotive’s “Dialogue Series”
I’m taking part in a new “Dialogue” series with Cox Automotive. The ongoing series offers dealers and industry stakeholders to ask questions, and get answers, from Cox Automotive leaders. Last...
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An Unprecedented Market Teaches Three Important Lessons
Unprecedented times tend to yield unprecedented outcomes. That’s been the story for dealers during the past several months in used vehicles. As I’ve noted here before, many dealers were able to...
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Why It’s Time to Get Back to Business In Used Vehicles
Like many dealers, I’ve been amazed by the resilience of the retail market for used vehicles during the past four months. I’ve heard from multiple dealers who set sales records in May, June and...
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A Case for Stocking Up Now on Used Vehicle Inventory?
For much of the past several months, I’ve advocated that dealers take a cautious approach to the way they replenish their used vehicle inventories. Last week, I shared how dealers should...
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A Calculation to Cross-Check Your Used Vehicle Inventory Levels
It’s been impressive to see dealers retailing more used vehicles despite the smaller inventories many have been forced to carry due to lower-than-usual availability of wholesale supplies. Across...
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A Strong Market Exposes Gross Deceptions in Used Vehicles
In my latest book, Gross Deception: A Tale of Shifting Markets, Shrinking Margins and the New Truth of Used Car Profitability, I address several “gross deceptions” that have long been part of the...
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Dealers Achieve An Industry First for Inventory Efficiency
It’s almost a tired saying these days: We all must learn to do more with less. But I’d like to point out what amounts to a true-blue, and potentially historic, example of dealers doing more with...
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Saying Goodbye to the ‘Godfather of Automotive Digital Marketing’
If you’ve been in the car business for the past 20 years and wanted to better understand how digital marketing could help your dealership, you probably know Ralph Paglia. Ralph was among a handful...
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Taking Notice of Two Used Vehicle Market Trendlines
There are two trendlines in the used vehicle market that merit every dealer’s attention. The first is the rolling seven-day average of retail sales across the country. A month ago, the rolling...
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A Few Thoughts for the July Fourth Weekend
I suspect I’m not the only one who’s headed into this year’s July 4th holiday weekend feeling much different than I did in years past. For one thing, I can’t remember the first half of a year...
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A Post-Pandemic Question on Factory Facility Requirements
I’ve been wondering if the shakeout from the COVID-19 pandemic across the retail automotive industry will result in any significant changes in the requirements factories place on dealers for their...
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A View of Bears and Bulls in the Current Used Vehicle Market
It’s refreshing to see what might be called a boost of confidence among dealers related to their used vehicle departments. Dealers are seeing surprisingly strong retail sales volumes, and many...
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Three Principles to Fuel Your Fourth Quarter in Used Vehicles
My phone’s been buzzing with dealers asking for input on how they should manage and stock their used vehicle inventories as 2020 comes to close. The questions come from a confluence of factors...
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