Convert Used Car Buyers into Lifetime Service Customers

Less than 10% of used car buyers return to the dealership for customer-pay service work. But don’t take my word for it. Run the numbers and see for yourself. Run the VIN numbers for all the used vehicles you sold in 2009 and compare it to the VIN n
Apr 10, 2010

Where’s the Trust?

I had the pleasure of speaking at the AutoTeam America CFO Forum on Friday afternoon before the official opening of the NADA Convention.  The event is always well attended by dealers of all brands along with their financial personnel.  Based on the
Apr 10, 2010

Traits of a Strong Compliance Officer

I apologize up front if what I am about to write offends you. I am not a fan of country music. Even though my Dad dragged me out of bed when I was five years old every Sunday morning to listen to a four-hour concert of Flatt & Scriggs and Bill Mo
Apr 1, 2010

Driving Better Closing Results: Experts share their closing secrets

The close is the ultimate measurement of the effectiveness of a sales process.  Retailers around the world go through countless steps to drive interest in their product but it is wasted energy if it doesn’t translate into sales.  Really nice and
Apr 1, 2010

Tips for Making Quick Service Worth It

We do a lot of brain busting determining how to generate sufficient stall revenue, so that the entire dealership’s expenses can be covered by service and parts.  Essentially we have established there are three distinct work types in auto service s
Apr 1, 2010

Be Careful of Limited Warranties

Did you know that offering a warranty on a new or used vehicle, even one that is limited in duration, can open a dealership up to litigation years after the warranty has expired? Many dealerships currently offer written warranties on new and used veh
Apr 1, 2010

Make Money Managing Inventory Walmart’s Way

Last year, Mike Jackson, chairman and CEO of AutoNation, commented that our industry’s operating benchmarks have not changed in half a century.  He was speaking specifically about our inventory supply and the long held belief that a 60-days supply
Apr 1, 2010

Unique Insurance Coverage for Unique Circumstances

In past articles, I have spent much time discussing the types of insurance coverage most dealers carry. As a change of pace, I thought it might be interesting to discuss some lesser-known policies that, in the right circumstances, may be just what yo
Apr 1, 2010

What I Should have Learned in First Grade

This year, I’m focusing my presentations to in-house clients on strategies to develop mental toughness and a ferocious persistence. These two traits will ultimately separate the winners from the wannabe’s in most endeavors. Over the years I’ve
Apr 1, 2010