★ Chris Collins ★’s Post

“We finally have a decent supply of new cars on the lot, but my profits are taking a nosedive!” This sentiment is increasingly common as the market shifts from a seller’s stronghold to a buyer’s market. Many dealers are now asking: How can we grow profitability in this new landscape? 🔍 Discover the three crucial ways dealer consulting partners can drive your success and transform challenges into opportunities. Read more here: https://lnkd.in/gPrx2Hji

Dealers don’t get in trouble because of market disruptions that suddenly increase vehicle valuations in the acquisition market. What we’ve seen over the last 15 years is that Dealers get in trouble when they panic and make decisions based on those quick market turns. Decisions like reactionary bulk buying or selling. During major market shifts, like the one we’re heading into now, we have to remember we’ve been here before. Sales may slow for a short while but they will pick back up. Vehicles are not a “want” or desire there are a necessity or “need”. We’re not in some small European town where you can walk or ride a bike everywhere. The key to profiting and growing during these market disruptions is remembering that the tortoise beats the hare. We have a program that sets that strategy and helps dealers execute that strategy. Our program is unique because it manages acquisition pipeline and buy-plans based on market conditions and continually adjusts to sales rate to keep inventory levels in balance all month, quarter, and year. Reach out for a demo below. In this market, you’ll be glad you did. JR Toothman Frank Knox Jake Newton Toothman Ford John Hatcher The Automotive Advisor Team Danny Papakalos Ted Pietrzak #usedcars Tom Pacini Paul Peters #aquisition #inventorymanagement #buyplanstrategy

***** ALERT ***** ALERT ***** ALERT ***** ALERT ***** ALERT ***** ALERT 🚀 Stand out from the competition and drive success in the new year with our revolutionary staffing solutions for auto dealerships! 🚀 Are you ready to make a positive change and take your dealership to new heights in 2024? Look no further! Our cutting-edge staffing solutions are specifically tailored to meet the unique needs of auto dealerships, enabling you to streamline your operations, enhance customer experience, and boost your bottom line. ✅ Unleash the Power of Efficiency: Our innovative staffing solutions, including an AI training platform, leverage the latest technologies and industry best practices to optimize your dealership's workflow. From efficient performance and resource allocation to seamless communication and task management, we empower our team and yours to work smarter, not harder. ✅ Customer-Centric Service: We understand that providing exceptional customer service is paramount in the auto industry. Our staffing solutions enable you to deliver personalized experiences at every touchpoint, ensuring that your customers feel valued and satisfied. From knowledgeable onsite managers to skilled greeters, valets, drivers, car washers and much more, we'll help you build a team that exceeds customer expectations. ✅ Stay Ahead of the Curve: In a rapidly evolving industry, staying ahead of the competition is crucial. Our staffing solutions include comprehensive training programs and ongoing professional development, equipping our team with the skills and knowledge needed to excel in today's automotive landscape. From digital marketing strategies to advanced CRM techniques, we'll help you navigate the ever-changing market with confidence when it comes to your valet parking management needs. ✅ Drive Results: At the end of the day, it's all about driving results and maximizing profitability. Our staffing solutions are designed to optimize your dealership's performance, we make sure you've the time to focus on your profitable departments, and improve overall efficiency. With our proven track record and industry expertise, you can trust us to deliver measurable results that will propel your dealership forward. Don't wait for the perfect time to make a change – the new year is the best time for growth and success! Contact us today to learn more about our game-changing staffing solutions for auto dealerships. Together, let's make 2024 your best year yet! 💪💼🚗 Click here for more advantages & benefits: www.lmdealersolutions.com

Auto Dealers, GMs, GSMs, and Sales Managers! Are you trying to figure out what motivates these younger generation sales people? Here is one thing that motivates and helps retain them longer. Talk About Values: Show that your dealership cares about the environment or helps the community. Values matter to them. Like, share, and follow for the hottest tips on finding and keeping top sales professionals in today's market.

How do you know it’s time to bring on a new major line at your dealership? There are three key questions that you can ask yourself to guide your decision-making. Answering yes to all three of these questions is your sign to bring on the line. But if you’re on the edge and can’t say yes to all three you may need to reevaluate.

The Service Drive Has Tremendous Value – and it’s Only Going to Continue to Grow, Are You Ready? Dealership service centers have always played an important role inside the dealership. Some call it the Back End, but successful dealerships know it is the Backbone that supports the entire operation. It may seem like an obvious statement, but the value hidden throughout your service department is second to none at your dealership. As dealers look for new ways to create growth for the future, they’re increasingly finding the service department has grown to be a place for more than just writing repair orders and changing oil. By keeping customers coming back to the service department, dealers are empowered to: ●  Build relationships with customers ●  Drive revenue ●  Illuminate potential sales leads Amid ongoing inventory challenges, the service drive has grown even more important in 2024 and beyond.

Considering new lines for 2024? Check out our guide to the 3 questions you must ask before adding a new line!

Get the right mix in a dealership: It is essential to create a balanced mix to ensure a sustainable and profitable business. In this context, we see that new vehicles in some markets generate a significant percentage of revenue, ranging from 4% to 7% in less developed markets and 8% to 9% in more mature markets. On the other hand, the service department in these same markets has an even greater impact, with GP percentages ranging from mid- to high-60% in mature markets, while less mature markets reach high-40% to 50% These figures clearly illustrate the differences between markets that promote sustainability and those that do not. To achieve a good balance, leadership through development is crucial. This means we must think in terms of strategy when considering the balance in leadership. The sale of a new vehicle should be seen as the beginning of a long-term relationship with the customer, not the end. This implies continuous engagement with the customer through excellent service and support, ultimately leading to higher customer satisfaction and loyalty. In this way, we not only build sustainability within our own company but also contribute to a more sustainable national and global market. #mix #efficiency #productivity #balance #worldleaders #strategy #no1

Is Your Auto Parts Store a Hidden Gem? Meet Jason and his journey with "RevUp Parts Store." Seeking growth, he enlisted Peak Business Valuation to uncover the real value of his business. The result? Strategic insights that fueled informed decisions and growth. Valuation Tips for Auto Parts Store Owners: ▶ Inventory Efficiency: Assess quality and turnover. High-performing stock boosts value. ▶ Customer Loyalty: A strong, returning customer base enhances store value. ▶ Strategic Location: Your store's location can significantly impact its attractiveness and value. ▶ Financial Health: Analyze profitability trends for a clear picture of your store’s performance. ▶ Supplier Relationships: Leverage strong connections for better deals and store value. ▶ Tech Upgrades: Modern systems and online presence can dramatically increase valuation. Key Value Drivers for Auto Parts Stores: ➖ Brand Strength: A reputable brand commands a higher valuation. ➖ Product Variety: Cater to diverse needs to attract a wider customer base. ➖ Additional Services: Offer unique services for added value. ➖ Online Integration: Extend your reach beyond local markets. ➖ Adapt to Trends: Stay updated with industry trends to maintain relevance. Jason's Takeaway: Guidance from Peak Business Valuation not only clarified RevUp's worth but also charted a path for strategic development. Ready to turbocharge your business valuation? #AutoPartsStore #BusinessValuation #GrowthStrategy #PeakBusinessInsight #EntrepreneurDrive

In this current market, there’s gross to be made but departmental growth is our focus. We are in a highly depreciable market. That means all acquisition channels are losing value the minute we take ownership. We have to focus on controlling the controllable. You don't control the market. You do control your operations. Holding for a pre-determined front-end gross number is proving to expose dealers to significant departmental gross losses.    Let's dive into that together with this week's The Automotive Advisor Team Market Conditions update below. Reach out to the team here to dive into a Proven Winning strategy in this volatile market. https://lnkd.in/g8PNdBru