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Live Replay NADA Show 2024: Dale Pollak | vAuto

CBT News anchor Jim Fitzpatrick had the opportunity to meet with Dale Pollak, Executive Vice President at Cox Automotive & Founder of vAuto, at the 2024 NADA Show.

Catch all of CBT News’ coverage of the 2024 NADA Show here.

Key Takeaways:

1. Tighter profit margins for Dealers: Pollak observes that dealers have experienced a good year, but are starting to feel margin compression. This has prompted dealers to seek competitive edges, indicating a shift towards more strategic operational tactics.

2. Challenges in inventory: The primary challenge for dealers in 2023 was not selling cars but acquiring them. Pollak emphasizes the importance of a new investment-minded approach to inventory management. He recommends vAuto’s ProfitTime GPS, which aids dealers in making data-driven decisions about pricing and selling cars to maximize ROI.

3. Different Strategies for Different Cars: The ProfitTime system categorizes cars into tiers (e.g., platinum, gold, silver, bronze) and recommends pricing strategies based on their potential to achieve the highest ROI within optimal time frames. This nuanced approach moves away from the traditional, calendar-based pricing strategies.

4. Forecast for 2024: Pollak is optimistic about 2024, citing improvements in vehicle affordability due to depreciating car prices and the anticipated reduction in the cost of capital. He suggests that as affordability improves, so will the business for dealers.

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Colin Velez
Colin Velez
Colin Velez is a staff writer/reporter for CBT News. After obtaining his bachelor’s in Communication from Kennesaw State University in 2018, he kicked off his writing career by developing marketing and public relations material for various industries, including travel and fashion. Throughout the next four years, he developed a love for working with journalists and other content creators, and his passion eventually led him to his current position. Today, Colin writes news content and coordinates stories with auto-industry insiders and entrepreneurs throughout the U.S.

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