Chris Saraceno

Great read. We tend to place less emphasis on the turn rate of new vehicles and assume because they are New it is normal to leave them in the showroom until they are sold. This is not the same way we treat pre owned inventory. If we know the vehicles at price points that are typically slow moving why not get aggressive and maximize the turn to prevent them from aging slowly only to have to do so when that same new vehicle approaches its 1 year anniversary. Certainly a strategy worth exploring and working on with your teams across the board to prevent “old stock” in new cars no differently than in our used car departments. @toyotanorthwestedmonton National Automobile Dealers Association (NADA) anyone with any knowledge on “daily storage charges” could prove this to be a vital operational practice. Dominic Ammar

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Lower prices on 2025 model year vehicles can jeopardize #CarDealers used car profitability. MMR and book values are not updated in real-time! #Car_Dealers that use AccuTrade (A Cars Commerce Solution) get access to real data -driven numbers powered by all 17-digits of the vehicle’s VIN.

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Attention Car Dealer Owners, GMs & GSMs Dealerships are losing money with car auctions due to high buy/sell fees. One auction fee can be more expensive than a whole month with HighBid Marketplace, where you gain access to virtually infinite frontline-ready used cars. With HighBid Marketplace, you can: - Trade cars on-demand without auctions. - Connect and trade within your dealer group. - Source vehicles from participating dealerships. - Experience seamless, efficient logistics with optional automated shipping. - Advertise your cars to consumers with unique incentives with coupon vouchers. Try it now: Get a 30-day FREE trial and transform your dealership's operations. Stop losing money on auctions and start increasing sales with HighBid Marketplace. Visit highbidmarketplace.com and schedule your free demo today. #Dealership #Automotive #HighBidMarketplace #InventoryManagement #DealerNetwork #VehicleSourcing *At this time, HighBid Marketplace is only being offered to California Dealerships. HighBid Marketplace is a platform that functions independently, without the dependency of any DMS or CRM*

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The Q3 2024 Cox Automotive Dealer Sentiment Index (CADSI) reveals that U.S. automobile dealers still see the market as weak, with independent dealers feeling the impact the most. Key factors like the economy, interest rates, and a shifting political climate continue to shape the market outlook. Read more here >> https://lnkd.in/eaK5fP32 #AutomotiveNews #EconomicTrends #AutomotiveDealerSentimentIndex

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Auto dealerships with better talent management strategies had turnover rates that were 17 percent lower than dealers who don't. Some of the good practices dealers can use for the highest rate of success are structured recruiting, formal training on an ongoing basis, and long-term incentives.

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🚙Used Car Managers🔥 🔥General Managers🚗 🚘Dealer Principals🔥 🔥Automotive Professionals🚖 This invaluable exchange from Kevin Deutsch and David Long is bursting with decades of experience compressed into 4 minutes of mic-dropping wisdom that can change your business and bottom line today.💰💵💲🤑 👀 in the comments for a link to full replay of Speed to Retail on David Long’s All Things Used Cars. You will thank me later.🔥🔥🔥 #automotive #autodealers #automotivemarketing #automotiveindustry #carbusiness #automotivesales #leadership #communication #newcarsales #usedcarsales #usedcardealerr

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Positive Outlook for Dealerships: Q1 2024 Sales Trends Show Industry Resilience The latest NADA (National Automobile Dealers Association) Market Beat report for Q1 2024 offers some encouraging signs for the automotive industry. Despite a slight dip in the March SAAR (Seasonally Adjusted Annual Rate) compared to February; the overall sales picture is positive: Increased Sales: The new light-vehicle sales SAAR for March 2024 hit 15.5 million units, a 3.8% increase year-over-year. First-quarter results are even stronger, with the SAAR at 15.4 million units, marking a 7% increase compared to Q1 2023. Improved Inventory: Crucially, shoppers now have significantly more vehicles to choose from. New light-vehicle stock on the ground and in-transit totaled 2.58 million units in March 2024, a substantial 40.2% jump compared to March 2023. Key Takeaways for Dealers These figures point towards a few key implications for dealerships: Affordability and Incentives: The combination of rising inventory and OEM incentives has led to a decrease in average transaction prices. While the average vehicle price in March 2024 came in at $44,186 (down 3.6% compared to last year), average incentive spending per unit reached $2,800, marking a significant 66.6% year-over-year increase. Dealerships should be prepared to leverage these incentives to attract buyers. Hybrids on the Rise: The alternative-fuel vehicle segment continues to grow, reaching an 18% share of total new vehicle sales in Q1 2024. Conventional hybrids are leading the charge with an 8.6% share and an increase of 2.4 percentage points year-over-year. This underscores the importance of adapting our inventory to meet growing demand for fuel-efficient options. Steady Growth Expected: While inventory might fluctuate over the next few quarters, the NADA anticipates that it will reach around 2.7 to 2.8 million units going into 2025. This, combined with rising sales figures, results in a positive outlook for the year, with a forecast of 15.9 million units for all of 2024. Adapting to the Market These NADA figures emphasize the importance of being malleable and nimble. By focusing on a diverse inventory that includes in-demand conventional hybrids, leveraging incentives, and anticipating a continued recovery in overall vehicle sales, dealerships can position themselves for success in the evolving automotive landscape. By: Delano Palmer Director of Training and Development Innovation Financial Services

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We are very pleased that our Sam Abergel’s article is presented as the featured Commentary in today’s edition of AutoRemarketing. Sam outlines a great number of best practices and recommendations, underscoring the importance of Parts’ Sales and Service, any dealer can benefit from in a rapidly changing automotive market. If the article resonates with you and you want to learn more, we suggest you email Sam at: [email protected] https://lnkd.in/gQJ-nVzY #automotive #mach10automotive #autoremarketing #profitability #dealershipadvisory #autodealerships #fixedoperations #partsandservice #automotiveindustry 

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🔥 Used Car Managers 🚙 🚗 General Managers 🔥 🔥 Dealer Principals 🚘 🚙 Automotive Professionals 🔥 Don’t let margin compression put the squeeze on you. This Friday, September 27th, starting at 9AM EST/ 6AM PST... Join David Long, Vasilios Lambos, Jasen Rice, Diego Vargas, John Ellis, Brian Kramer, Tommy Gibbs, Brian Miller, and other leading automotive experts as they discuss What It Takes To Be Profitable on David Long’s All Things Used Cars. Jump into the conversation or be a 🪰 on the wall like me! Either way, you’ll walk away with amazing insights and actionable tips that you can implement at your dealership TODAY to make you and your bottom line better immediately. 💰🤑💵💲 👀 in the comments for a link to RSVP. You'll be texted a reminder once the room opens up. #automotive #autodealers #automotiveindustry #carbusiness #automotivesales #newcarsales #usedcarsales #usedcardealer #sales

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🔥 Used Car Managers 🚙 🚗 General Managers 🔥 🔥 Dealer Principals 🚘 🚙 Automotive Professionals 🔥 Don’t let margin compression put the squeeze on you. This Friday, September 27th, starting at 9AM EST/ 6AM PST... Join David Long, Vasilios Lambos, Jasen Rice, Diego Vargas, John Ellis, Brian Kramer, Tommy Gibbs, Brian Miller, and other leading automotive experts as they discuss What It Takes To Be Profitable on David Long’s All Things Used Cars. Jump into the conversation or be a 🪰 on the wall like me! Either way, you’ll walk away with amazing insights and actionable tips that you can implement at your dealership TODAY to make you and your bottom line better immediately. 💰🤑💵💲 👀 in the comments for a link to RSVP. You'll be texted a reminder once the room opens up. #automotive #autodealers #automotiveindustry #carbusiness #automotivesales #newcarsales #usedcarsales #usedcardealer #sales

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Hey guys, it's Louie Herron! What leadership skills are crucial in a dealership? Everyone in the dealership is a leader in some way. Personal growth is key to leadership development. Explore more leadership insights at: https://lnkd.in/egZAV9pC #DealershipLeadership #PersonalGrowth #LouieHerron #LeadershipDevelopment #AutomotiveIndustry #SuccessInSales #FandIManagement #LeadershipTips

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It's no secret that many dealers are stretched thin, juggling deals, staff, and service. But Peter A. Duffy Jr., CEO of Dealer Image Pro™ | Automotive Merchandising, warns that slow time to market is the silent killer of industry profits. Here's how he's talking a big problem in the dealership business. ➤ Stream the Car Dealership Guy Podcast now on your favorite platform. #DealerImageProPartner

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