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But the marketing and data software firm understands why cars have been flying out of dealerships for the past month. But what we do know is consumers are rushing to buy new, used and certified vehicles in anticipation of severe price hikes due to tariffs that were implemented April 3. The report showed used-car sales hit 1.53
In fact, Cox Automotive found that “reporting was more disrupted than actual sales,” but noted that July will likely make up for June’s disruption in the used-car market. And even with disruption, dealers increased.
The automotive industry is undergoing a generational transformation with the continued use of electric vehicles (EVs). As more consumers embrace the benefits of EVs, the usedcar market is also seeing an influx of these eco-friendly vehicles. This can include software updates, battery conditioning, and more.
The automotive industry is undergoing a generational transformation with the continued use of electric vehicles (EVs). As more consumers embrace the benefits of EVs, the usedcar market is also seeing an influx of these eco-friendly vehicles. This can include software updates, battery conditioning, and more.
Similarly, a sudden drop in usedcar 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.
The year closed a positive note, with dealers seeing approximately a 3% month-over-month rise in used-car sales in December, with year-over-year sales up 1%, Cox said, citing an initial estimate based on data from its vAuto unit. Software, marketing, and data firm ZeroSum also.
This career requires a deep understanding of vehicle technology, inventory software, and logistics. At the same time, professionals in this field must also be familiar with older vehicle models to meet customers’ needs with classic or usedcars. Without a well-organized approach, its easy to feel overwhelmed.
While some dealerships are happy sending their usedcar manager to the auction, others who aren’t satisfied with that approach need to get a little scrappy and think outside the box. Finding a good usedcar buyer is one of the biggest hurdles dealers face when trying to explore alternative acquisition channels.
When using a private-party management software, dealers see up to an 84% reduction in acquisition costs and two to three times total purchases per month. Bryan Bough, usedcar 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.
When you think car business, you immediately picture a salesperson. We put all our energy into selling and almost nothing into buying cars. Usedcars generate 33% of a dealerships revenue, not even counting service. Vehicle acquisition management software is changing the game. But weve got it backwards.
We talked with their usedcar manager, Bryan Bough, about their private-party buying program. They didnt just tweak their existing process; they completely reinvented how they acquire usedcars. Higher Margins: The dealership earned an average of $7,000 per car by combining front-end sales, financing and service revenue.
In response to the recent security breach crippling CDK Global customers, ABCoA, a trusted provider of dealership management software (DMS) since 1983, is extending a helping hand to automotive dealerships nationwide. Decades of Experience: ABCoA has been providing dealership management software to automobile dealers since 1983.
While dealerships focus on reconditioning usedcars, the efficiency of the PDI process for new cars is equally vital. When cars spend less time in the PDI phase, they can be delivered to customers faster, reducing inventory holding costs and improving overall dealership profitability. Here’s how: 1.
Industry Trends in 2023 While the usedcar boom that sent prices sky high may be winding down, there is still a large demand for quality used vehicles. Here are some ways they do just that. Be sure to offer choices for those with everything from excellent to below-average credit. The more choices your customer has, the better.
The latest book from Rapid Recon founder Dennis McGinn, “ASPIRE to Predictable,” outlines ways the dealership reconditioning software company brings predictability to a general manager’s day. This problem has been – and continues to be — a challenge for usedcar profitability, particularly regarding mechanical repairs.
Used-car sales have surged since the end of 2023 thanks to trends that offer long-term opportunities for dealers, according to a new eBook from marketing and data software firm ZeroSum. The report, “Driving Profits: The Importance of Data-Driven Decisions in the UsedCar Market”, showed used-car movement is up 16.6%
Although the dust has settled on the VW Diesel gate scandal, the story is still not over for diesel cars that were bought back by VW. You may have noticed that there are a lot of 2009-2015 diesel Jettas, Bugs and Golfs hitting usedcar lots. If you have the correct scan tool software, you can actuate the valve to test operation.
If you want to manage inventory holding costs and bolster your earnings per share, consider how your usedcar 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.
Dealers today enjoy more predictable usedcar 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 usedcars has been, until now, primarily determined by demand and availability.
Inter-departmental cooperation is more importance than ever, so here we provide actionable strategies for improving communication and efficiency, and highlight the benefits of using reconditioning software designed from a fixed ops perspective.
The software itself and the platform truly make it a one-stop shop. Giron says the dealerships usedcar manager can view the videos and pictures on his phone to check the work thats being done to recon cars, allowing him to effortlessly approve a vehicle for use.
This enhancement introduces new solutions focused on UsedCar Pricing, Service Management, and New Car Sales Negotiation, further empowering dealerships to optimize their operations and profitability.
The software suite includes a user-friendly dashboard that offers analysis and reporting across key dealership areas including digital marketing, inventory retailing, lead handling, sales performance and finance performance. .”
This profit per vehicle strategy couldn’t have come at a better time,” said Jared Ricart, president of the Ricart Automotive Group, whose usedcar operation sells 600 to 800 usedcars monthly. Increase profits from parts, customer-pay services, and usedcars. Eliminate chargebacks to sales.
After pouring countless amounts of energy into the never-pretty process of getting usedcars 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.
Rapid Recon has announced in a press release a new complimentary feature for users of the company’s T2L usedcar reconditioning workflow software. Custom Forms is designed to help auto dealers personalize, customize and digitize the many forms used in fixed and variable operations.
New VIN-scan tools that integrate with reconditioning software can provide deep, rich mechanical systems data and accurate reconditioning parts and labor costs for the vehicle make, model and year. This is critical information to have in hand when used by any dealer — and especially by public groups — seeking to bolster earnings per share.
When purchasing a usedcar from either the dealership or usedcar lot, they may offer you a warranty for an additional fee. Most usedcars are ‘As Is’ with no warranty. If you don’t need to use the money, just let it keep growing. A usedcar will eventually need a large repair.
The Environmental Protection Agency accused Volkswagen of equipping its diesel vehicles with software designed to manipulate emissions tests, and while litigation was pending, Volkswagen dealers had to issue a stop sale on all their TDI vehicles. One of the main reasons we had pursued [Volkswagen] was because of the TDI,” Church says. “You
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