You work very hard to increase and maintain profitability, right? What if I told you there was an additional way to improve profits that didn't require late nights grinding for every deal? Would you want to know about it? It's called Employee Engagement. According to a recent study, engagement for employees of all ages is much more closely linked to leadership practices. The research identified the top drivers of 'actively engaged' to be when the employee has: Inspirational leaders …
Dealership Operations
Study: Dealership Profits are Evaporating, Here’s How to Stop It
Dealership profits are under intense pressure today and in the coming months, according to a just-released NADA study reported on by Automotive News. U.S. franchised new-vehicle dealerships sold about the same number of new vehicles through June this year as they did the year earlier, but dealers are making less money on them. Even profits on used vehicles, which are typically fatter than those of new vehicles, will narrow because "residual decline is accelerating and depreciation is …
True Story of How Adapting to ‘Digital Operations’ Sells Cars
Shifting auto retail operations from a strictly 'bricks and mortar' model to one that incorporates facets of digital commerce has not been an easy road for most dealers. Adapting to 'digital operations' has a lot more challenges than meets the eye. There's been a severe lack of information and leadership from manufacturers, leaving dealers to figure things out on their own. Unless you've spent a lot of time in the digital space, it's difficult to determine the best actions to take. True …
8 Digital Dealership Operations Focus Areas for Better Performance
Every single person and every store is having to adapt to the new reality. Remaining inactive in the face of significant change is a sure path to disaster. As margins decline, inventories shrink and markets soften, it's even more crucial to scrutinize digital dealership performance more closely. An integral component of your analysis is to examine outdated behaviors and processes that impede performance...and replace them with an updated, holistic approach to "digital" operations. Fact …