Tony Troussov - Nowadays, your Internet leads could account for more than half of your walk-in traffic. Is your Internet team prepared to handle this volume effectively? Regardless of how productive your team is, there is always an opportunity to improve. If you’re ready to increase your market share and profitability, take some time to assess your team in the following five areas.
Thomas B. Hudson - I excitedly ripped open the “Owner Notification” from an area car dealer who sells the sort of SUV that we use to haul ourselves and the dogs to and from our place in South Carolina. Our old bus is pushing 70,000 miles, so I’m thinking that in this market, maybe I’ll get a real steal.
George Dans - Have you ever noticed the three types of salespeople you hire—the good, the bad and the ugly? It’s always good when you hire one of the good ones, but for some strange reason, there aren’t many of the good ones to be found.
Jennifer Murphy - For 2009, national Toyota sales were down more than 20 percent, while Jeff Wyler Toyota was up 28.6 percent. When the Toyota dealership originally opened 25 years ago, it was named Green Tree Toyota after a new, nearby mall, Green Tree Mall.
David Keller - Your service department is one of the busiest departments in your dealership. Service deals with more customers than any other department on a daily, monthly and annual basis. The service department also sees more potential customers than any other department.
Too many dealers have had to learn how to pick up and move on with their lives after getting a “Dear John” letter from their manufacturer(s) to which they had been loyal for decades. At first glance, it would seem the disenfranchised dealer has three options: close the doors, acquire another vehicle franchise or go it alone as an independent.
Thomas B. Hudson, Cathy Brennan - Often a plaintiff’s lawyer has a choice about where to file his or her client’s lawsuit. Those choices can involve whether to file the suit in state court in an urban or rural county or whether to file the action in a federal court rather than in a state court.
David Keeney - If we were to ask 1,000 new or used vehicle prospects whether they prefer to buy or lease their next vehicle, how would they answer? Most likely buy unless they have been presented both options. We as professionals realize that 80 percent or so of people’s thinking is based on attitudes and feelings, while only 20 percent is fact-based.
David Keller - Review your year-to-date income statement as compared to the prior year, specifically whether vehicle gross profit percentages remained consistent or were lower than the prior year.
Greg Wells - Every dealer has a few great employees, but few dealers think of their CRM as one of them. I’ve always thought otherwise. There are 10 reasons you should feel the same way
Thomas B. Hudson - When we do a dealer F&I compliance audit, one of the things we do is to go dumpster diving, or at least “trash can rummaging.” That’s because there seem to be an awful lot of dealers out there who haven’t yet gotten the word that we have laws protecting the privacy of their customers.
Tony Troussov - Training people should be a top priority when developing a successful team. Most dealerships or dealer groups focus on improving salespeople while ignoring the skill set of employees in other revenue-generating departments.
David Keller - During the course of a year, accountants are asked many different questions. Some of the more frequent questions are: What should I pay myself for salary? What should I pay myself for rent, and what should the lease term be? Should I consider starting a buy here pay here (BHPH) operation if I am a new car dealer? Getting to the FAAQs
Jennifer Murphy - Proper inventory management is a fast-paced race, but it is one a dealer can come from behind and win. Case in point: Finish Line Ford in Peoria, Ill., is currently averaging 300 sales per month. When compared to the 70 per month it was averaging throughout most of 2008, it’s obvious the dealership came from about the middle of the pack and is now leading the way.
Greg Wells - It happened one Thanksgiving Day. My mom and her sisters gathered around the dining room table and placed a 1,000-piece jigsaw puzzle. I’d seen them do it every Thanksgiving Day of my life.
