Monday, December 6, 2021
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collision center

Maximize revenue in the collision center with lean production practices

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Collision centers are typically viewed as a standalone business for car dealers that act as a supporting, customer service-oriented role. Their value is often underappreciated and seldom do dealerships invest capital or human resources in the body shop like they do for other departments. However, the collision center can be both an area to service […]
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J.D. Power’s Tyson Jominy shares his auto retail predictions for...

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In the third quarter, as record sales and consumer spending declined, we talked to Tyson Jominy, Vice President of Data and Analytics at J.D. Power to get his insight on why this was happening and the impact it could have on the industry as a whole. Today, we chat with Jominy to find out if data […]
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Carvana

Carvana shows growth but takes a financial loss on Q3...

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Growing sales and great profit margins weren’t enough to push Carvana into the black through the third quarter of 2021. In the shareholder letter issued on November 4 from founder and CEO of Carvana, Ernie Garcia, this calendar year has been one that demonstrated car buyers’ affinity for simplified car buying. But despite a significant […]
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loyalty programs

How to use loyalty programs effectively

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In selling products, dealerships have an incredible opportunity to acquire new customers and retain existing ones. But, according to Polk, the sad truth is that less than 30% of owners are loyal to a dealership. For a dealership, an average defection rate of 70% should be a great motivator to improve loyalty. And in such […]
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Group 1

Group 1 Buys Prime Automotive Dealerships in $880 Million-Dollar Deal

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As of Monday, September 13, 2021, Group 1 Automotive Inc. has committed to purchase Prime Automotive Group. The $880 million deal includes Prime’s 30 stores, nearly all of the assets, real estate, and three collision centers. Last year, Prime Automotive Group generated $1.8 billion in revenue, while the stores sold more than 50,000 new and […]
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vehicle supply

A new model coming for vehicle supply, AutoNation CEO Mike...

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The COVID-19 pandemic could be a watershed for carmakers who have typically kept hundreds of thousands of new vehicles at any given time. AutoNation CEO Mike Jackson surmises that this inventory-heavy practice could be coming to an end, giving way for a new method for vehicle supply to retailers. In an interview with Bloomberg Television, […]
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ecommerce

Why eCommerce is here to stay post-pandemic

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In 2020 dealers across the country were forced to massively adapt the way they serve their customers. With the rise in safety measures, lockdowns, and broken links in supply chains due to the Covid-19 pandemic, the automotive industry was forced to shift its focus to optimizing every revenue stream that could close the gap on […]
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Q2 profit

Carmakers exceed expectations for Q2 profit in the US

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As anticipated, the first few days in August have second-quarter financial reports rolling in from carmakers. In large part, Q2 2021 has been one of the best on record with profits exceeding the forecasts set earlier in the year as the chip shortage was factored in. GM, Stellantis, Toyota, Hyundai, Mazda, and others are into […]
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Dyke

Sonic Automotive Pres. Jeff Dyke discusses all-time record for quarterly...

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 Sonic Automotive recently announced an all-time record quarterly revenue of $3.4 billion, that’s up 58.7% year-over-year. Plans for further expansion of EchoPark were also teased, so what does this mean for the seventh-largest dealership group in the U.S.? On today’s show, we’re pleased to welcome Jeff Dyke, President of Sonic Automotive. Dyke begins the […]
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digital marketing

Digital marketing is crucial to automotive parts and accessories

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Customers live their lives online—and it’s not a passing fad. The mass migration to digital shopping has been well underway for decades and the COVID-19 pandemic only accelerated the movement. There has never been a more crucial time to start selling parts and accessories online and moreover, build a digital marketing strategy to fuel the […]
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