Guillermo Cornejo

Navigating the Inventory Glut in Today's Auto Market As we see a significant rise in new car inventory levels—with an industry-wide 72 days of supply as of April, up 46% from last year according to Cox Automotive—dealers are facing increased challenges. This overstock, especially pronounced in trucks, SUVs, and luxury vehicles, is creating financial strain due to high floor plan interest and associated fees that accumulate the longer vehicles sit unsold. Despite a hopeful 11% increase in sales this March compared to last year, dealerships are still not moving inventory fast enough to avoid the burdens of extended holding costs. High-interest rates and softening consumer demand are exacerbating this issue, making it difficult for dealers to maintain profitability. This is where YRS comes into play. Our innovative banking system offers a unique solution that drastically cuts down on the financial pressures of unsold stock. With YRS, dealers can save up to 70% in fees by eliminating: 30/60/90 day terms Immediate payment requirements upon vehicle sale Lender compliance and promissory notes Curtailment Dealer audits and lot regulations Traditional floor-plan fees Are high holding costs weighing down your dealership? Let's change that. Unlock financial flexibility for your dealership with a FREE consultation from YRS. Learn how we can help you streamline costs and elevate your bottom line. Spots are limited—reach out today to ensure your dealership’s future success. 👇 https://lnkd.in/gcGGPjyy

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"Despite the challenges facing the used car market, including tightening supply, shifting consumer demands, and the volatile transition to electric vehicles (EVs), the long-term outlook remains cautiously optimistic. While the second half of 2024 and into 2025 are expected to test the resilience of even the most seasoned operators, the sector’s inherent adaptability suggests that opportunities for growth and profitability still exist. Success in the coming years will hinge on strategic innovation, embracing regulatory changes, meeting evolving consumer needs, focusing on sustainable practices and leveraging technology to drive engagement and efficiency." Business Car Jack Carfrae Cox Automotive Europe Philip Nothard Check out the IQ (Insight Quarterly) Q3/2024 here 👉 https://cox.auto/uhj9L

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Stellantis just announced price cuts on some 2025 vehicles. It’s good for them, but here’s the issue. MMR is outdated and the “books” won’t be updated for another few weeks. This leaves dealers vulnerable to HUGE acquisition errors. AccuTrade updates values near real-time giving #CarDealers accurate values. We also give values based on the full 17-digit VIN.

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Automotive Risk Management Partners Brings 40 years' auto retail and compliance experience to help dealers protect themselves and their customers.

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An easy way for dealerships to make money beyond just selling cars is through selling vehicle service contracts. It's a win-win situation for both the dealership and the customer. The dealership earns revenue, and the customer gets peace of mind knowing that they won't be hit with unexpected repair bills down the line. Implementing a service contract marketing program can run this revenue stream for your dealership, so you can focus on selling! We can set this up for you and with NO COST to do so!!! #vehicleservicecontracts #dealerships #apcisg #IFS #Innovationfinancialservices Click below if you'd like to schedule a "Next Level Assessment" with a member of the Innovation Team. https://lnkd.in/gXj4UNCM

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CARS24 market share in the used car market is currently in single digits. This means that over 90% of customers buy cars from the broader market—local dealers, friends, family, or other online players. Our mission is to continue building trust and transparency in the auto industry. For customers who aren’t buying from us, the question is: what can we do to help them make the right decision, with no surprises? That’s why we’ve launched CarTruth—a comprehensive car inspection service designed to give every buyer peace of mind, because better drives start with better cars. What’s different about CarTruth? This isn’t just for CARS24 customers. CarTruth is built for anyone, anywhere, to uncover a car’s full story. With years of expertise in evaluating over 1 crore cars across 200+ cities, we know what matters in every vehicle check—ensuring your next car doesn’t come with unpleasant surprises. Why CarTruth Matters for Every Buyer: • 20% of used cars hide engine issues. • 30% of cars older than 5 years have tampered odometers. • Over 1 lakh cars annually are impacted by floods. • 30% of used cars have unreported accident histories. CarTruth dives deep to reveal hidden issues, from accident history to potential repairs or ownership concerns. This is more than just a service—it’s our commitment to better drives for better lives through safer roads, transparent buying, and a trusted journey for every car buyer. Discover CarTruth for the confidence to drive any car you buy, from any seller, with trust. Our team has also created an interesting and fun video to highlight CarTruth’s benefits. Do watch it and share your feedback! 😊

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HOLD 'EM or FOLD 'EM. That is the question on many dealers' minds each and every day regarding used inventory management. The next two months will tell us a lot about how the year will finish but for now, the price of buying inventory is outpacing the retail price to sell that inventory. We can expect, if the historical pattern continues, we will see a shift in the retail price in the next few weeks giving us some relief. Until then, with margin compression, holding for gross will need to be on hold as we are back in the velocity market, for all geological colors. We review the trends and insights with some guidance below. Our team can help you play the best hand every time. Reach out for a discussion. The Automotive Advisor Team Agile Auto, Inc BEVERYTHING, EV Consulting Frank Knox Durran Cage Peter Smith Joe Jackson 🔥

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WARNING TO EVERY AUTOMOTIVE DEALER GROUP in North America. CDK Global news again for all the wrong reasons. Tekion Corp has joined a growing list of competitors, suppliers, and dealers suing and winning lawsuits (settling out of court = win :) against the legacy DMS provider. Why? FEAR, ARROGANCE, UNETHICAL, UNPROFESSIONAL, UNCOMPETITIVE, "SORE LOSER" on the part of CDK Global. Impeding Asbury Automotive Group's transition to Tekion Corp's far superior product was adjudicated in court already. CDK lost. DATA IS THE DEALERS. CDK Global Leadership....tell me I'm wrong. I've been wrong before :) Would love to hear from you. "If Asbury wanted all of its data in the manner it desired, it needed to switch to the status of a customer in Transition Assistance to another DMS, CDK said. This meant forgoing perks such as flat pricing under its current arrangement, it said". NOTE....YOU LOST THAT COURT CASE. ABSURD....."Customer in Transition Assistance?", "Perks?" from a company providing substandard product, unreasonable charges, poor customer service, and more for decades. WE KNOW from direct experience. Tekion Corp CEO/Founder Jay Vijayan - “They’ve been doing this on an ongoing basis, which forced us to stand up to them for anticompetitive practices,” Vijayan said. “Not just for us but for our dealers as well. It is dealers’ data, but [CDK has] been holding it hostage.” Other dealer groups involved with CDK's blockage of data transfer includes Doral Automotive Group, Regal Automotive, Lou Bachrodt Auto Mall, as well as over a dozen California-based dealerships that currently use CDK DMS with plans to go live in 2025. Penske Automotive Group, AutoNation, Lithia & Driveway, Group 1 Automotive, Sonic, Dragoneer Investment Group, General Motors, Hyundai Motor Company (현대자동차), BMW i Ventures, Serra Automotive PLEASE NOTE: We are currently soliciting for OEM, DEALER GROUP, SUPPLIER, SaaS contracts/other projects. Feel free to reach out to me directly. 416.993.9356 [email protected] #automotive #automotiveindustry #innovation #brand #technology #leadership #disruptor #retail #oem #ai #artificialintelligence #customerexperience #DMS

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TEKION OFFERING SOME NO-CHARGE RELIEF TO DEALERSHIPS WITH THE CDK CRISIS .... Standing with the auto retail community Tekion Digital Processing access for affected CDK dealers. HERE'S THE LINK TO FIND OUT MORE ... https://lnkd.in/eG-nJG6P Dealers are showing incredible resilience in the face of the ongoing CDK outage, coming together to find alternative solutions to keep their businesses running and servicing their customers and communities. We salute their resourcefulness and stand by them to support in any meaningful way we can. Our team has been working on solutions to help dealers in this time of need and are offering free access to our Tax, Title, and License solution, Tekion Digital Processing (TDP), to all affected dealers.  This standalone tool will allow your team to accurately calculate tax, title and license for vehicle, heavy truck, trailer, RV, watercraft and powersports sales transactions in all U.S. States and the District of Columbia. You'll also receive access to a comprehensive library of state specific forms, which will be dynamically populated based on your deal. We are committed to helping dealers navigate this difficult time and hope that this support offers some relief. HERE'S THE LINK TO FIND OUT MORE ... https://lnkd.in/eG-nJG6P https://lnkd.in/eG-nJG6P

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🚗Auto Dealer: We want to build authority in the market. 👩‍💻Me: Sounds good! So, what makes you different from the thousands of other dealerships? What’s your unique selling point? 🚗Auto Dealer: Well, we sell cars. 👩‍💻Me: Ah, yes, cars, the thing that basically every dealership in town is selling. I mean, do you have flying cars? Do they come with built-in coffee makers? Or maybe they have an auto paint job that changes color with your mood? 🚗Auto Dealer: Uh… no, they’re just regular cars. 👩‍💻Me: OK, OK. Maybe you sell them at less-than-market rates to really pull at people's heartstrings? 🚗Auto Dealer: No, we sell cars at regular prices. Actually, I'm not sure! 👩‍💻Me: If you, as a founder, don’t know what makes your brand special, how can I convince people to buy from you? 🚗Auto dealer: 🦗 ----------------------- To all the #car dealers and other business owners: -Before you start asking for help with content, branding, or marketing, make sure you understand your “why.” -There must be something unique about your business—something that sets you apart from the competition. Maybe it's how you personalize the car buying experience, or perhaps it's the way you treat your customers. Maybe you offer rare, hard-to-find vehicles or provide a level of service that makes customers come back time and again. -Whatever it is, if you don't know what makes your business special, you can't expect anyone to help you stand out.

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The market is showing signs of uncertainty as the Feds stay indecisive. Forecasting market trends has become more complicated than ever before. Keeping your inventory flowing in a measured calculated way that matches market conditions moment by moment and benchmarked to your sales rate ensures the calculated courage you need to be successful in any market. You can see the latest market trends and insights in this week's Auto Market Review from The Automotive Advisor Team.

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There are several reasons why someone might leave one dealership and choose to buy from another. Here are three common reasons: 1. **Price**: One of the most common reasons is that the other dealership offered a better price on the desired vehicle. Customers are always looking for the best deal possible, so if they can find a similar car at a lower price at another dealership, they may choose to buy from there instead. 2. **Customer Service**: Another reason could be related to the customer service experience at the first dealership. If a customer feels ignored, mistreated, or generally unhappy with the service they received, they may decide to take their business elsewhere. Good customer service can make a significant difference in where someone chooses to make a large purchase like a car. 3. **Selection or Availability**: If the first dealership didn't have the exact car the customer was looking for or if they couldn't offer the specific features or options the customer wanted, the customer might go to another dealership that does have what they're looking for. Customers want to have options and ensure they get the vehicle that meets their needs and preferences. These are just a few examples, and there could be many other reasons why someone might choose to leave one dealership and buy from another. #MasterYourCraft#MorganAutoGroup #HondaOcala #NextLevelSales #Audible #Author #TheFranchise #Batman #MasterYourCraft #NowYouKnow

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Preparing for the Cars Rule: A Roadmap for Dealership Transparency The upcoming Cars Rule, set to take effect next year, will require a significant shift in how dealerships operate. If your dealership isn’t fully transparent yet, now is the time to plan for a smooth transition. As a former high-grossing desk manager, I know the importance of maximizing profit, but the reality is that transparency will soon be non-negotiable. The key is to take a measured approach—don’t rush the process. A gradual transition will allow your dealership to adjust without alienating top performers. Ultimately, transparency will lead to greater success, not less. Are you ready for the shift? Let’s discuss how to build a roadmap for this important change. Learn more and make the call: https://zurl.co/QCTx #AutomotiveTransparency #DealershipLeadership #CarsRule #DealerAlchemist #StrategyAndSuccess

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I recently shared the news of General Motors decision to end production of their last entry level sedan, the Chevrolet Malibu. While trends have shifted over the past twenty years to SUVs and pickups, the Malibu had its place as a sedan that was particularly popular for commercial fleets. Fast Company takes an in-depth look at the decision GM made and whether they along with Ford and Stellantis are going to regret not having an American made entry level sedan available in the future. While the focus is on the retail consumer, it's a bigger impact on commercial fleets than many expect. There are a lot of U.S. companies who only want to have American made fleet vehicles. Those who utilize the Malibu now will have to decide if they want to move to a small SUV option or rethink their strategy if they really want a practical sedan in their fleet inventory. #GeneralMotors #AutoIndustry #FleetVehicles #FleetSolutions #Motorlease #FleetManagement #WhatEverItTakes

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About 4,000 franchised dealerships (out of a total of 34,000) will close this year amid an intensifying price war in the new-car market and shrinking demand for fuel-powered vehicles, the China Automobile Dealers Association said. The number of stores slated to close is much higher than in recent years, when an average of 2,000 franchised dealerships closed in 2021, 2022 and 2023. Most dealerships that have gone out of business this year were stores selling fuel-powered vehicles. According to a survey released by the association in August, 51% of car dealerships were unprofitable in the first half of the year. Only 35% were profitable and the rest only broke even. Fueling the price war is a surplus of vehicle production capacity in China. https://lnkd.in/e2RQfuWc

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