Texas VW Dealer John Luciano on the Importance of a Strong CPO Program
With all of the challenges presented to dealers by the Coronavirus, Street Volkswagen in Amarillo, TX decided to face them head-on and re-invest in their customer community. They offered free vehicle inspections and opened up their service drive to all…
Delaying Internal Work Approvals – What It Really Costs When the Dealership Keeps Its Best Customer Waiting
The used car department is the dealership’s best customer. When the dealership is turning used cars at a healthy rate, the parts and service departments account for the lion’s share of profitability and absorb upwards to 100% of the dealership’s…
Veteran Trainer Tommy Gibbs on Improving Used-Car Gross Profit
On today's show, we’re pleased to welcome veteran trainer Tommy Gibbs, President of Tommy Gibbs and Associates, and author of "7 Common Sense Factors to Avoid Being a Stupid Leader." With a bulk of the vehicle transaction done online, the…
ReconVelocity CEO David Penney Discusses the Importance of a Seamless Recon Process
When it comes to used vehicle operations, inventory turn has never been more important than it is now. Typically, service managers are mostly concerned with customer pay and warranty work with retail consumers. Then, there are the used car managers…
Manheim’s Joe Kichler Discusses Ramping Up Transportation Activity to Meet Wholesale Demand
While there’s been a lot of focus on how the COVID-19 pandemic has impacted automotive retail sales and inventory management strategies, it has also dramatically affected how dealers transport vehicles to their dealership lots. The pandemic shut down many transporters…
Manheim’s Alan Lang Discusses The Benefits of Virtual Auctions
Like many other businesses, COVID-19 disrupted Manheim operations in a huge way. Moving to an all-simulcast, digital, environment presented many logistical challenges for customers and staff. As things in the industry began to improve, the wholesale giant brought back…
NIADA’s President Steve Jordan Delivers Positive Updates for the Used Vehicle Market
On today’s featured CBT News interview we’re very pleased to welcome Steve Jordan, President and CEO of The National Independent Automobile Dealers Association (NIADA) to discuss the used vehicle market. NIADA, founded in 1946 has represented quality independent automobile dealers…
Determining when a CPO is the Right Choice for Your Customer – Brian Moody, Autotrader
Recently, Autotrader announced the Best Non-Luxury and Luxury Certified Pre-Owned Programs for 2020. Since today’s car shoppers are focused on value and affordability, CPO is a perfect option for a cheaper vehicle that has a manufacturer-backed warranty. This year’s winners…
Ohio Dealer Chris Marhofer Discusses Used-Car Inventory Strategy
In the midst of the uncertainty of COVID-19, many businesses are just looking for ways to get by. For Chris Marhofer, President and COO of Ron Marhofer Auto Family, surviving turned into thriving. Chris joined anchor Jim Fitzpatrick to talk…
How Dealers Can Acquire Used-Car Inventory Quickly and Efficiently – Nick Patterson and Ryan Dietz, VettX
With the inventory challenges facing the new car market, many dealers are putting their energy into bolstering their used-car departments. That means finding new and innovative ways to acquire the right inventory quickly and efficiently. Here to discuss what the…
HEADLINES
Bernie Moreno returns to auto retail with new digital technology
While the COVID-19 pandemic has created many obstacles for auto dealers, some have found ways to create opportunities in the midst of adversity. After taking a step back from the auto industry, Bernie Moreno, president of Bernie Moreno Companies, and…
Why automation is a crucial tool in today’s auto industry
In today’s fast-paced world, customers expect personalized communication that speaks to their specific needs and grabs their attention. This expectation increases the number of meaningful touches needed between a customer and a sales representative. With a smaller team, how can…
Wholesale prices begin to normalize on usual inventory levels
Dealers may start to notice the wholesale prices at auction slip back into more familiar territory. According to Manheim’s Used Vehicle Value Index mid-month report for September, wholesale used vehicle prices have decreased by 0.9% in the first two weeks…
Ford set to begin production of the all-electric F-150
The concept of an all-electric Ford F-150 has been anticipated for a while, and the automaker is taking the first steps to move from a concept to production. In a press release, Ford confirmed plans to begin construction of the…
The role diversity plays in your dealership’s customer communications
Welcome back to Diversity in Automotive brought to you by TrueCar and CarNow. As you look across your customer base, there are several moving parts of communications that everyone has to get right. Externally, dealers have to represent the franchise…
Conducting customer interviews online to discuss F&I options
It’s time to face a new reality. Offsite deliveries aren’t going anywhere anytime soon. COVID-19 has forever changed the way car dealers do business, quite possibly forever if not for the foreseeable future. In growing numbers, more dealers performing offsite…
Auto investors make bold moves with this week’s tech company deals
Welcome to the first edition of The Friday 5 with Steve Greenfield, Founder and CEO of Automotive Ventures, an automotive technology advisory firm that helps entrepreneurs raise money and maximize the value of their companies. This weekly CBT News series…
