Every single person at every dealership is having to adapt to the new reality. Remaining inactive in the face of significant change is a sure path to distress. As margins decline, inventories shrink and markets soften, it's even more crucial to scrutinize digital dealership performance more closely. An integral analysis component is to examine outdated behaviors and processes that impede performance - and replace them with an updated, holistic approach to "digital" operations. There are …
Digital Transformation
3 Myths of Today’s Dealership Sales Department
The following is a comment I shared on my social media in 2011. At the time, I had hoped it would start some conversations and perhaps inspire change. Unfortunately, 7 years later, we still need to have this conversation because most dealership sales department business models are outdated. "In a few years, auto dealerships will ONLY need Internet Sales Departments. The ground is shifting and it's time to get on the program." There are just too many options today for customers to …
STUDY: Employee Engagement, Profitability Linked Directly with Strength of Leadership
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 …
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 …