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

SEPTEMBER 28, 2024

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. The post Mastering Used Car Acquisition: Lead Generation Basics appeared first on AutoSuccessOnline. It’s really that simple.

Used Cars 52

Used Cars Car Management Retail 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.

Finance 240

Finance Retail Automotive Services Engineering 240

Auto Remarketing

MARCH 12, 2025

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.

Automotive 52

Automotive Automotive Marketing Media Used Cars 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.

Banking 52

Banking Automotive Finance 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.

Used Cars 52

Used Cars Vehicle Management Car 52

AutoSuccess

FEBRUARY 17, 2025

We talked with their used car manager, Bryan Bough, about their private-party buying program. They didnt just tweak their existing process; they completely reinvented how they acquire used cars. Higher Margins: The dealership earned an average of $7,000 per car by combining front-end sales, financing and service revenue.

Car 90

Car Management Vehicle Used Cars 90

AutoSuccess

OCTOBER 11, 2024

The post The First and Most Crucial Step to Profitable Used Cars appeared first on AutoSuccessOnline. As the automotive industry continues to evolve, the dealerships that thrive will be those that embrace digital tools, track key metrics and continuously seek improvement opportunities.

Used Cars 52

Used Cars Car Management Mechanic 52

AutoSuccess

MARCH 28, 2024

Margin compression affects every department of your dealership, notably used car reconditioning and used car appraisals. Used Car Reconditioning A reconditioning speed of three to five days, from acquisition to frontline readiness, is the efficiency gold standard. How do you manage margin compression here?

Used Cars 93

Used Cars Management Retail Vehicle 93

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.

Used Cars 52

Used Cars Management Hospitality Mechanical Repairs 52

AutoSuccess

SEPTEMBER 6, 2024

According to Cox Automotive’s June 2024 Auto Market Report, the average new car loan interest rate is 10.1% for used car loans. This is a significant increase from two years ago, when the average new car interest rate was 4.1% for used car loans, according to Car and Driver.

Vehicle 98

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.

Vehicle 52

Vehicle Manufacturing Management Customer Service 52

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 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.

Used Cars 52

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

SEPTEMBER 3, 2024

While dealerships focus on reconditioning used cars, the efficiency of the PDI process for new cars is equally vital. Optimizing the Pre-Delivery Inspection (PDI) process is crucial, yet often overlooked. The PDI process ensures new vehicles meet manufacturer standards before delivery.

Car 93

Car Software Finance Management 93

AutoSuccess

AUGUST 6, 2024

He ran the used car department for his grandfather’s dealership, Chuck Patterson Toyota. For example, if you’re a Toyota store and you acquire all the publicly listed Toyotas on Craigslist and Facebook marketplace, it forces your local Toyota consumers to shop with you. If you don’t think this works, ask our CEO, Nick Patterson.

Vehicle 94

Vehicle Used Cars Car Trucking 94

AutoSuccess

JANUARY 12, 2024

Between a lack of inventory, increased auction fees and a volatile market, stocking your lot is not for the faint of heart these days. To be successful, you have to move fast. You need to make decisions quickly at auction. You need to inspect trade-ins and decide on an offer that will benefit you without slowing down the sales process.

Vehicle 110

Vehicle Mechanic Car Used Cars 110

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.

Used Cars 52

Used Cars Insurance Media Vehicle 52

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. You’re buying the wrong cars if this isn’t consistently happening. When recon is run well, it is dialed in and efficient.

Software 52

Software Management Used Cars 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.

Vehicle 40

Vehicle Used Cars Parts Replacement Media 40

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

AUGUST 12, 2024

Additionally, a rise in used EV sales continues to make headlines. Over 7% of new car sales in 2023 were battery EVs (BEVs), which will lead to an increase of used EV inventory in the coming years.

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Insurance Vehicle Alternative Fuels Fluid Check 73

AutoSuccess

JANUARY 23, 2025

The used car market is more competitive than ever, and dealerships must stand out. Buyers now compare vehicles across platforms, scrutinizing every detail. Transparency has become essential to gain an edge. With informed, selective consumers, dealerships must shift from salesmanship to trust-building.

Vehicle 52

Vehicle Used Cars Car IT 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

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

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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AutoSuccess

AUGUST 20, 2024

It’s a gauge of how many vehicles are trending to be sold that year and helps us compare sales volume against other points in history — or does it? Something the automotive SAAR doesn’t capture is the part that used car sales play in your store’s profitability. The SAAR, after all, only accounts for new vehicle registrations.

Consulting 52

Consulting Retail Car Vehicle 52

AutoSuccess

FEBRUARY 16, 2024

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. We are in a world of the third parties driving who is listed first by the price that the vehicle is.

Management 52

Management Vehicle Emissions Testing Service Advisor 52

AutoSuccess

FEBRUARY 20, 2024

With sales dwindling at 20 units or less per month across new and used cars, and limited physical space in our first-generation Chevrolet building, the challenges were formidable. The dealership, nestled in a town of just 3,000 people and over an hour’s drive from any large city, was significantly underperforming when we took over.

Automotive 52

Automotive Management Car Customer Service 52

AutoSuccess

FEBRUARY 27, 2024

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.

Retail 40

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?

Consulting 98

Consulting Education IT Retail 98