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Resources

The best dealer resources from our experts to help dealers solve their toughest inventory challenges.

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5 Pointers To Improve Your Used Vehicle Reconditioning Processes

You’ll get a range of responses when you ask dealers how much time it takes to recondition used vehicles. The best-performing dealers these days consistently get the job done in 24 hours or less. Meanwhile, other dealers report their reconditioning turnaround times run seven days or more. The disparity owes to two chief factors—the degree […]

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Cost To Market Clarifiers: How The Metric Helps You Manage Used Vehicle Profitability

It’s fair to say the auto retail business has changed more in the past 10 years than in the previous 75 years combined. Much of the change owes to the rise of the Internet and new technologies, which have transformed the way consumers shop for used vehicles and how dealers manage their inventories. But one […]

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“Augmented Reality:” Another Driver Of Showroom Reinvention

Most dealers now accept that the Internet is today’s prevailing mode of discovery for new and used vehicle buyers. The sharper dealers have taken this recognition a step further, addressing what’s been termed a “disconnect” as vehicle buyers visit dealerships. For example, the sales associates at these dealerships don’t really consider customers as “fresh ups.” […]

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The Ultimate Car-Shopper Carrot: Special Offers

When was the last time you bought a TV at full price? How about that new golf club or bag? Truth is, as consumers, we’re all conditioned to look for deals, sales or specials on virtually anything we buy. It’s what we expect. Same goes for car buyers. Yet, only about 44% of dealers promote […]

Blog Post

Changing Market Conditions Pose Used Vehicle Challenges — Again

This past February, I raised a cautionary yellow flag about dealers making speculative bets with their used vehicle inventory decisions. I was concerned that dealers would have trouble resisting the urge to “stock up” in anticipation of a strong spring selling season—especially amid signs that incoming supplies of wholesale vehicles and other market variables might […]

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Dump Your BDC? 3 Reasons Why It’s A Bad Idea

This week’s Automotive News offers a story about dealers shutting down their business development centers (BDCs). To me, the development seems like a step in the wrong direction for three key reasons. First, whether dealers recognize it or not, our business is increasingly moving toward a more e-centric model, where an even greater share of […]

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Testimonial | Shaun Del Grande, Del Grande Dealer Group

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How Velocity Influences A Dealership’s Bottom Line

As I discuss in my latest book, Velocity Overdrive: The Road to Reinvention, the successful adoption of the Velocity Method of Management in a dealership requires a champion. This individual, who is often a dealer principal or a key manager, serves as the steward of the people and processes that execute the Velocity strategy. But […]

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Market Pricing, Sales Transparency Give Velocity Dealers A Competitive Edge

Check out this quote from CNW Market Research’s August 2012 “Retail Automotive Summary:” “Consumers are becoming increasingly aware of what a used vehicle should (in their minds) sell for. They are driving a harder bargain and finding dealers, who are seeing inventories beginning to grow, willing to make a deal.” The quote comes in an […]

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vAuto & Trade-In Marketplace Provide More Vehicle Acquisition Power

Today marks the official launch of the integration of Autotrader.com’s Trade-In Marketplace and vAuto’s Provision® inventory management system. This is exciting news for dealers on two key fronts. First, the integration marks another milestone in vAuto’s efforts to provide more value to dealers by leveraging our relationship with AutoTrader.com in ways that provide greater efficiencies […]