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Articles by Terry Schwer
Dealership Hiring: Promote from Within or Hire Externally?
The Pros and Cons of Hiring Internally vs. Externally By Terry Schwer, Encompass Dealer Services The auto dealership industry has changed dramatically in the last few years. The most forward-thinking dealers are evaluating every aspect of their operations to maximize profitability. If you’re like most dealers, your people are your biggest expense. That’s why the question “Am I getting the most out of my team?” is more important than ever.
Auto Dealership F&I Metrics That Will Help Sales
Use F&I Services To Increase Your Value Proposition By Justin Ward of Autosweet & Terry Schwer of Encompass In a market where car sales are slowing down, it’s crucial for dealerships to find ways to upsell wherever possible. One effective strategy is to focus on Finance & Insurance (F&I) products. By doing so, dealerships can generate additional revenue and stay competitive. Here’s a look at the F&I metrics that our dealership experts believe are essential to growth.
Automotive Dealer Benchmark Guide
How Our Experts Approach Automotive Benchmark Reporting By Tom Wolf, CPA & Terry Schwer You have a ton of data, but not a ton of time. Here are the essential aspects of benchmarking that will significantly impact your dealership’s success. Categorized into daily, weekly, and monthly task, this is a blueprint for your team to identify areas of improvement, set realistic goals, and implement effective strategies.
Inventory Management Tips For Used Cars
Knowing what inventory you move the quickest helps you know what to focus on when acquiring vehicles. Take a look at the vehicles you were able to retail within the first 60 days and look for these things: The average cost of sale. The average model year. The average mileage. Is it your brand off-make? Taking the time to analyze this data on a routine basis will help you identify a pattern and begin to play to your strengths and approach slower moving vehicles with more caution.
How Amazon Could Disrupt The Dealership Industry
As part of this collaboration, Amazon Alexa technology will be integrated into Hyundai vehicles starting in 2025. Prospective customers can explore dealers’ inventories on Amazon’s platform and seamlessly finalize their purchases using their preferred payment methods. Notably, all transactions will still involve the customer’s chosen dealership. While the initial participation of dealers is limited to 10-15, Hyundai envisions a significant expansion by the end of the next year.
How The UAW Strike Impacts Dealerships
In their fight for increased wages, the United Auto Workers strike is showing no signs of letting up for their fight for increased wages. Since its start on September 15, the UAW is showing no signs of letting up soon. In a recent video released by the union, UAW president Shawn Fein said: “If we don’t make serious progress by noon on Friday, Sept.
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