The ‘time to line’ it takes vehicles to go from auction house to a customer’s driveway has become a key performance indicator at the dealership and group level. Joining us today to talk more about automotive recon efficiency and the traction around used-car sales, is Dennis McGinn, CEO of Rapid Recon.
In the last 10 months since the COVID-19 pandemic hit the U.S., used-vehicles have exploded in popularity among consumers. Dealers have been trying to get as much used-vehicle inventory on hand as they can, even going so far as to pay sky-high prices. This means that automotive recon has taken center-stage. It’s more crucial now than ever to streamline a vehicle’s journey from acquisition to having it ready for consumer purchase.
When talking about the importance of ‘time to line’, McGinn explains, “It’s because of, I think, the scarcity that’s going on out there, and it isn’t just apparent. It’s the real thing. So, when dealers used to think that ‘time to line’ was a tactical element that could be delegated to their fixed-ops…it becomes strategic. It ties directly to their profitability now.”
When McGinn first got started in the automotive recon space, one of the dealer pain points he heard most often was the lack of accountability in the recon process. That was the jumping-off point for Rapid Recon. McGinn knew he had to develop software that delegated recon responsibilities and held staff members accountable to their timeline.
Rapid Recon’s philosophy is to bring everyone together under the general manager, so nothing falls through the cracks. This allows dealers to turn vehicles faster and generate more profit.
Did you enjoy this interview with Rapid Recon’s Dennis McGinn? Please share your thoughts, comments, or questions regarding this topic with host Jim Fitzpatrick at firstname.lastname@example.org.