Hoffman Auto Group, based in Connecticut, is celebrating 100 years in the business this year. From a single Ford store in 1921, the family-owned business has grown to consist of ten dealerships and nine brands. But after 100 years, you might wonder…what’s next for the dealer group and what’s their secret to success? On today’s edition of Inside Automotive, we’re pleased to welcome Bradley Hoffman, Co-Chairman of Hoffman Auto Group, to discuss what business looks like for Hoffman Auto Group today.
Its interesting times in the automobile business says, Hoffman. When it comes to growth, he says it’s hard to know what that will look like in twenty to forty years. There are plans to continue the business but they have no intentions to sell. It’s about the community and the people who have worked at the dealership that keep things going.
Hoffman says they had plans years ago to take on the approach of digital retailing. He says the problem was chain management and getting everyone to operate that way. Then the pandemic came and forced the chain management to transition. Hoffman says it helped their company a lot. Ten years from now, he does believe 100% of the people will operate this way.
We are already in the game when it comes to EVs says, Hoffman. As a leader, he says he embraces it. They are about to launch a major EV campaign, based on all the brands. He says he wants to let the public know that they’re leaders in the business. They’re not waiting for someone to tell them they have to sell electric cars, because they’re doing it now.
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Hoffman says their day supply is zero. They are a chain where individual dealerships may carry nine to eleven vehicles. He says production is starting to ramp up a little bit. He does believe dealers have become better operators on merchandising, marketing and, how they sell their products.
Hoffman does worry about, the threat of a direct sell model and franchise landscapes. Hoffman says if a dealer group does a good job with retention on older vehicles, they’ll be widely successful.
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