On the latest episode of Used Cars Weekly, host Jasen Rice is joined by Matt Lasco, Dealer Principal at Lasco Ford. Lasco joins the show to discuss how car dealers can manage used-car inventory and effective ways to improve efficiency at a dealership.
Lasco has spent a large portion of his career focusing on the used-car market. However, he got his start in the industry by selling new cars for his dad. After building some success, Lasco’s father informed him that he would be moving to the used-car side of the business. His father was aware that the dealership had more control over their used-car lot than any other sector of their business. He was aware of uncontrollable challenges with OEMs and banks that directly impacted new-car inventory. Lasco provided a dynamic edge to the used-car segment of the company.
Right now, Lasco says he is focusing on supply and demand for used vehicles. As new inventories faced challenges over the last 24 months with natural disasters, the global pandemic, and an industry-wide chip shortage, many new cars never made it to the lot to sell. This also impacted the availability of used cars. Lasco says that he and his dealership group are operating very lean. Lasco Ford is maximizing grosses as it continues to monitor the state and direction of the market.
Lasco wraps up by sharing advice he learned from his dad. Though there might be new people that join a dealership team, car dealers should commit to their process and not allow new faces to change the direction of the company. Car dealers must be committed to their process and challenge new employees to buy into the culture for long-term success. Lasco says the only exception to this rule is when a high-caliber individual is brought on to help improve a struggling dealership.
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