AutoSuccess

SEPTEMBER 28, 2024

Pros: o Complete Control: You pick the cars and the price. Bryan Bough, used car manager at one of the largest auto groups in Boise, Idaho, recently said to us: “If you’re not buying cars from the public, you’re making a huge mistake. You aren’t at the mercy of someone or something else. It’s really that simple.

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Used Cars Car Management Retail 52

Auto Remarketing

MARCH 13, 2025

As part of the inaugural Automotive Intelligence Awards, Cherokee Media Group is honoring a select group of outstanding auto industry analysts for their contribution to the knowledge base of the used-car retail, finance and remarketing industries. Roberts, who is from Detroit, has a deep family background in automotive.

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Automotive Finance Used Cars Retail 52

Auto Remarketing

MARCH 11, 2025

As part of the inaugural Automotive Intelligence Awards, Cherokee Media Group is honoring a select group of outstanding auto industry analysts for their contribution to the knowledge base of the used-car retail, finance and remarketing industries.

Automotive 52

Automotive Finance Used Cars Retail 52

AutoSuccess

OCTOBER 11, 2024

Yet, many dealerships continue to use spreadsheets or fragmented systems that fail to communicate across departments, leading to inefficiencies, miscommunication and missed opportunities. This lack of visibility delays the car’s journey to the sales lot, increasing holding costs and reducing potential profit.

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Used Cars Car Management Mechanic 52

Auto Remarketing

MARCH 12, 2025

He knows cars and The Cars. Also included in the magazine and conference recognition will be the Automotive Intelligence Awards: Emerging Companies program, which will recognize emerging companies and entrepreneurs charging forward to make their mark on the used-car industry.

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Automotive Automotive Marketing Media Used Cars 52

AutoSuccess

FEBRUARY 2, 2025

I mean growing sales margins, making more confident trade appraisals and working the used car operation to increase cash flow. More Efficient New and Used Vehicle Sales: Missing a service delivery promise chills retention. Now they meet customers on a level field, both able to discuss any used car on your lot intelligently.

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Used Cars Vehicle Management Car 52

Auto Remarketing

MARCH 10, 2025

As part of the inaugural Automotive Intelligence Awards, Cherokee Media Group is honoring a select group of outstanding auto industry analysts for their contribution to the knowledge base of the used-car retail, finance and remarketing industries.

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Banking Automotive Finance Used Cars 52

Auto Service World

DECEMBER 11, 2024

Small competitors positioned at the lower end of the market started absorbing business from used car lots and garages, which focused on budget-conscious customers. A once-balanced market with local family-run jobbers and small corporate-owned stores evolved rapidly. Despite these shifts, the industry was still in a growth phase.

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Finance Retail Automotive Services Engineering 240

AutoSuccess

SEPTEMBER 3, 2024

During the coronavirus pandemic, inventory was historically low, customers frequently paid above MSRP and financed cars at higher interest rates and for longer periods of time. This in turn has resulted in a surplus of new cars sitting on lots. To avoid holding costs, dealerships must sell new car inventory quickly.

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Car Software Finance Management 93

AutoSuccess

MARCH 28, 2024

A 2022 Bureau of Labor Statistics report reminds us that from the 2007 to 2009 recession — and through the onset of the pandemic in 2019 — “car and truck dealerships faced an economic shock and compressed profit margins on new vehicles.” CarEdge Data pointed out that February inventory supply ranged from two weeks to two years.

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Used Cars Management Retail Vehicle 93

AutoSuccess

SEPTEMBER 6, 2024

cars or roughly two vehicles, according to Money Geek. This means the average household spends over $2,000 per month to own and maintain their cars. Purchase Prices : The Manheim Used Vehicle Value Index highlights that used vehicle prices have skyrocketed due to supply constraints and increased demand.

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Vehicle Insurance Finance Used Cars 98

AutoSuccess

JANUARY 14, 2025

By securing a VSC post-sale, dealers can lock in this relationship, encouraging repeat business for future car purchases. Additionally, a well-maintained car with a solid service record becomes a valuable trade-in option, presenting an opportunity to enhance the dealerships used car inventory with well-cared-for vehicles.

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Vehicle Manufacturing Management Utilities 52

AutoSuccess

MARCH 20, 2024

But I do because my company’s products and services interface with the GM at a crucial point: used car profitability. I know enough GMs, fixed ops directors and used car managers in all sizes of dealerships and groups to understand how important vendor and product trust is to them.

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Used Cars Management Hospitality Mechanical Repairs 52

AutoSuccess

AUGUST 6, 2024

He ran the used car department for his grandfather’s dealership, Chuck Patterson Toyota. For every single decent car in your market that you don’t buy, you’re not just losing a sale; you’re losing a customer, and you’re potentially creating a competitor. If you don’t think this works, ask our CEO, Nick Patterson.

Vehicle 94

Vehicle Used Cars Car Trucking 94

AutoSuccess

JANUARY 4, 2024

Dealers today enjoy more predictable used car results because they leverage strategic reconditioning software’s robust efficiency metrics called time-to-line or T2L, a process we introduced to the market in 2010. The profitability of used cars has been, until now, primarily determined by demand and availability.

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Used Cars Hospitality Software Vehicle 52

AutoSuccess

MARCH 15, 2024

This stands in sharp contrast to dealers who often face the challenge of uncertainties in used car acquisitions due to a lack of comprehensive data. Stock investors have long benefited from a wealth of information and advanced technological tools, supporting them in making data-driven decisions.

Mechanic 98

Mechanic Vehicle Utilities Used Cars 98

AutoSuccess

APRIL 11, 2024

Each technician provided a unique inspection report for a used car with worn components, resulting in a staggering lack of uniformity among the reports. Furthermore, technicians may not always recommend items they dislike addressing, leading to omissions in the inspection process.

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Consulting Electronics Education Used Cars 97

AutoSuccess

JANUARY 12, 2024

Are you really 98% to market for that specific car or are you 98% to market within 100 miles for that model? For example, when you bought the car you planned $1,000 for recon. Not only does this take up time, but even after looking at comps, it’s still very difficult to make an accurate appraisal.

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Vehicle Mechanic Car Used Cars 110

AutoSuccess

JUNE 6, 2024

If you want to manage inventory holding costs and bolster your earnings per share, consider how your used car reconditioning operates. Cars get sale-ready within three to five days of acquisition. Managing the recon operation to manage holding costs is a car dealer’s best offense against margin compression.

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Software Management Used Cars Vehicle 52

Auto Service World

MARCH 14, 2025

Similarly, a sudden drop in used car prices from post-COVID highs resulted in many vehicles not being repaired. For instance, as vehicles become more complex, the cost of repairing crash parts with all the added sensors and technology might lead to higher total loss ratios as these cars depreciate. He is based out of Toronto.

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Collision Repair Insurance Vehicle Media 130

AutoSuccess

JANUARY 24, 2024

After pouring countless amounts of energy into the never-pretty process of getting used cars through the shop faster and on the lot for sale — then what? It’s common knowledge that the real rewards and internal gains only come when the car finds its new owner. Plus, selling them quicker means more in the profit column.

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Used Cars Insurance Media Vehicle 52

AutoSuccess

JUNE 21, 2024

Imagine you’re in the market for a used car and stumble upon a dealership’s website that welcomes you into a unique, colorful, interactive and informative-rich virtual showroom for each vehicle in your used car inventory. contributes to a significant $589 average gross profit increase per used car.

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Vehicle Used Cars Parts Replacement Media 40

AutoSuccess

AUGUST 12, 2024

with the time it takes for a car to sell having gone from 25 days in inventory at the beginning of 2023 to 72 days in inventory just over a year later. Additionally, a rise in used EV sales continues to make headlines. EV sales have slowed in the U.S.

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Insurance Vehicle Alternative Fuels Fluid Check 73

AutoSuccess

JULY 30, 2024

In a large metro, it balloons to over a million searches, and this shouldn’t be shocking since more than 50 million new and used cars are sold annually. If you’re in a smaller metro area, that climbs to over 100,000 searches.

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Used Cars Vehicle IT Car 75

AutoSuccess

JANUARY 23, 2025

The used car market is more competitive than ever, and dealerships must stand out. The original window sticker shows how the car was equipped at the factory, turning a generic listing into a personalized story. Buyers now compare vehicles across platforms, scrutinizing every detail.

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Vehicle Used Cars Car IT 52

AutoSuccess

MAY 4, 2024

A promising sign is that groups are installing group-level variable and fixed operations directors accountable for delivering predictable operational efficiencies and using enterprise-level reconditioning and appraisal reporting to drive more profit from parts, service and used car sales.

Mechanic 40

Mechanic Used Cars Vehicle Management 40

AutoSuccess

AUGUST 20, 2024

Now, car sales have surpassed pre-COVID levels, and marketing budgets are surging as many dealers have realized the bottom is already behind us. Something the automotive SAAR doesn’t capture is the part that used car sales play in your store’s profitability. Forecasts are pointing to a rapid climb into 2025. The result?

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Consulting Retail Car Vehicle 52

AutoSuccess

MARCH 1, 2024

In the automotive sales industry, a significant shift is underway, marked by the evolution of vehicle appraisal tools that are enhancing accuracy and instilling confidence among used car managers. Traditionally, dealerships have relied on inventory tools that use market data to price their inventory.

Automotive 52

Automotive Automotive Marketing Utilities Vehicle 52

AutoSuccess

FEBRUARY 20, 2024

The truth is that the sales staff plays a pivotal role in integrating AI into the car-buying process, creating a harmonious blend of technology and human expertise. Understanding this interplay is crucial for dealerships aiming to leverage AI effectively without losing the human touch that remains at the heart of every car purchase.

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Automotive Management Car Customer Service 52

AutoSuccess

FEBRUARY 16, 2024

Car Dealer’s Daughter Church was born into a family of dealers. So, as a GM, it’s very important to me that my service manager knows that he is just as important as the person who manages my new and my used car inventory. You have to show that example to your team that not one department matters.

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Management Vehicle Emissions Testing Service Advisor 52

AutoSuccess

FEBRUARY 27, 2024

These types of issues may make consumers think twice before investing in new and used vehicle models when car shopping. With digital assistance, car buyers will be able to better research the numerous F&I products and services that are specifically tailored to their purchasing preferences online.

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Retail Electric Vehicles Vehicle Electricity 40

AutoSuccess

DECEMBER 17, 2024

AI is a tool in a larger toolkit, but its important to know when to use it. If you want to produce unique descriptions for all your used cars, someone can easily train generative AI to do that at the dealership level, with great effect. Need to format a page and your website vendor takes a month to get anything done?

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Consulting Education IT Retail 98