At the start of the COVID-19 pandemic, New York City quickly became the epicenter of the virus, and the city promptly shut down for months longer than anyone anticipated. However, amidst the challenges and uncertainty, Paragon ended the month of June as number one in the nation for new and used Acura sales and number one in the nation for new and used Honda sales. Here to discuss this impressive milestone is Brian Benstock, Partner GM and VP at Paragon Honda and Acura. Brian is a good friend of CBT and frequent contributor.
In this conversation, Brian and Jim address the strength of sales for Paragon over the last few weeks, issues surrounding unemployment and PPP money, as well as applying a frictionless business model in the dealership.
“I think we’re going to continue to see strong sales. The OEMs always want to over-produce cars and now it’s just right. Margins are pretty good, the dealers’ balance sheets have improved, and they’re healthier than they’ve been,” says Brian. “Interest rates are at historic lows, and used-car valuations are at historic highs, so that creates value for the consumer. The more we can get that good value message out there, the better off we are.”
How Paragon Found Success by Utilizing a Frictionless Business Model – Brian Benstock