Auto dealerships face a perpetual challenge: balancing inventory to meet customer demand without overstocking, which can lead to carryover inventory. Carryover inventory—vehicles that remain unsold for extended periods—ties up capital, incurs holding costs, and often requires discounting and markdowns to clear off the lot. This scenario impacts profitability and creates a cycle of reduced margins in today’s highly competitive…

2024 Kerrigan OEM Survey finds OEMs expect sales to increase and earnings to normalize at higher levels over the next 12 months, despite high interest rates and affordability challenges; majority of OEMs developing ICE production contingency plans as electric vehicle (“EV”) demand softens and EV sales expectations wane…

Atlanta, GA, July 23, 2024 (GLOBE NEWSWIRE) -- Trust Stamp (Nasdaq: IDAI) announces a partnership with Botdoc to integrate Trust Stamp’s low-code Orchestration Platform within the Botdoc Connect product, providing robust Identity Verification and KYC. The integration includes document validation using the …

HUNT VALLEY, MD, July 18, 2024 – Armatus Dealer Uplift, the industry leader in Retail Warranty Reimbursement submissions, today announced that the New Hampshire Automobile Dealers Association (NHADA) has named Armatus as the exclusive warranty uplift service provider for its membership.

"We believe in helping our dealer members succeed and they will benefit greatly from Armatus’ products, people, and services” stated Dan Bennett, President of the New Hampshire Automobile Dealers…

The practice of markdowns has long been a…

The Many Hats of the Auto Dealership General Manager

By Richard A Nimphie | Submitted On October 24, 2012

The general manager acts as an extension of the dealer/owner and, as such, not only assures the successful direction of long and short-range objectives, but is also responsible for the discipline, morale, and effectiveness and well-being of each person employed by the dealership. He/she develops efficient managers and works through them to see that mutually agreed upon goals…

BOTDOC AND KPA ANNOUNCE PARTNERSHIP ON COMPLETE COMPLIANCE SOLUTION AS MANY AUTO DEALERS ARE STILL FEELING THE PAIN OF RECENT CYBER THREATS

Combined Solution Provides a Secure Way for Automotive Retailers to Transport Confidential Information with End-To-End Encryption

Monument, Co – July 16, 2024 - Botdoc, a pioneer in end-to-end encrypted communication, announced today it has partnered with KPA, a leader in…

Puget Sound Business Journal Ranks Top 20 Largest LGBTQ+ Owned Companies in the Region for 2024

RENTON, WA – July 16, 2024 – Car Pros Automotive Group, one of the fastest growing automotive groups in the United States, today announced that it ranked #1 on the list of Top 20 largest LGBTQ+ owned companies by…

Training is a key component of any dealership’s long-term plans. It unifies your team’s approach to sales, fine-tunes your brand identity, and can consistently deliver one of the biggest ROIs of anything you do for your business. 

However, if you don’t know how to train a sales team properly, it can also be a huge waste of time and money. It’s not…

Many businesses struggle with confessing they need improvement. Why is that such a bad thing to admit? The truth is, it’s not bad at all. 

Acknowledging there’s room for improvement is a skill not many possess. This is by no means a weakness; it is most certainly a strength in your repertoire. This skill allows your business to be one step…

Investing in a great training program is one of the best ways to increase all of your key metrics and meet your monthly sales goals. By bringing a specialist consultant who understands the auto industry and what it takes to sell effectively in this unique environment, your sales team can stay ahead of the competition by following the latest trends and perfecting vital skills like appointment setting and lead management. …

Training is the foundation for a business's success. Why settle for mediocrity when you can strive for greatness? Finding ways to step up your game can be difficult, but ongoing coaching makes the process seem effortless. 

What does practical coaching look like? What are the critical components needed to produce maximum…

Time is money, and your sales force needs to be efficient in their work. Extended pitches can derail closing and waste time, while a laser focus on identifying customer needs and pain points is key to solving problems and overcoming objections. 

However, achieving this is easier said than done, and training is essential for keeping your team sharp.…

Every department at a dealership needs training, but your BDC can benefit the most from regular coaching to maximize the results they get for your business. They rely on their phone scripts and skills to set appointments for your salespeople, and the tiny details they get from training can be the difference between hitting your monthly goals and the entire dealership falling flat. …