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 who focus on inventory acquisition and sales. What David Penney, CEO of ReconVelocity, finds is vehicle reconditioning tends to get lost somewhere in the middle.
Dealers need a platform to hold their recon employees accountable. According to David, recon is often not given the amount of attention or management that it needs in order to be done successfully and efficiently. So, who should manage this process? The best answer is that the service manager and used-car manager need a way to communicate seamlessly with each other and their recon employees. With the ReconVelocity platform, these dealership players can monitor vehicle reconditioning progress and timelines while holding each other accountable.
ReconVelocity is a comprehensive platform developed to help dealers reduce the Retail-Ready time of their acquisitioned used vehicle inventory, leading to an increased preowned inventory turn rate, decreased recon costs, and higher profit margins. For more great insight from David Penney, be sure to watch our entire interview above.
Did you enjoy this interview with ReconVelocity’s David Penney? Please share your thoughts, comments, or questions regarding this topic with host Jim Fitzpatrick at jfitzpatrick@cbtnews.com.
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