How did powersports dealers perform in Q2? Here's a snapshot of the front of the house. If you haven't heard of VisionAST then you should check them out. Their systems utilize Lightspeed DMS 3PA API to directly access the data from within the DMS. Multiple times each day they grab fresh data, and then turn that into usable metrics. While I'm a fan of Lightspeed, it doesn't contain the tools dealers can use to quickly identify strengths and weaknesses. Reports with data on them are good for nerds like me, but most employees find it easier to digest charts and graphs. A couple of things I'd point out about these reports. Since this data mostly comes directly from the sales deals, and many dealers don't accrue for bonus money, it does impact reported margins. On this report, margins for Harley-Davidson Motor Company dealers are probably 3-4 points lighter than they actually are. And for the metric brands, while Polaris Inc. consistently has one of the lowest gross margins of all the major brands, what's represented on this report is probably 2 points light. The same goes for BRP, which is probably missing about 2.5-3.0 points of additional margin. I was surprised to see Vision reporting only .7 F&I products per deal. I feel that this number has been falling due to dealers who are selling out of fear. Many of the processes that dealers should be utilizing have gone out the window, and that just leads to poor performance across the board. 48% of vehicles being financed feels about right, and the average price per vehicle aligns with the data I collect. I'll let you conduct your own summary. Anything on this report that stands out to you? Anything you are surprised by? If you'd like to demo Vision AST, reach out to Kyle Reid, he loves Zoom. Now go sell something! #Powersports #Metrics #VisionAST #FrontEnd #VariableOps #Q2 #Sales #Finance #HarleyDavidson #Polaris #BRP #Suzuki #Yamaha #Kawasaki #Honda #Kayo #BMW #CFMOTO
Krista Sparkes
4mo
Now, if we could only replicate for the marine business!
Jason Lamont
4mo
$611 is the average backend PVR of how many dealers?
Jeffrey Martin
4mo
I guess I should not be surprised. When I look at jobs today what the finance manager expected pay is it is a far far cry from yesteryear. hence 611 per copy. At 10 to 12 percent which is what seems is going rate that's painful and you will be looking for a new person quick. It's not an easy job and when I see what people offer for training...again 611 is the result. The best training I ever received was from our back end products rep which is wny I took him with me to my next post too.
Kyle Reid
4mo
Mark Sheffield spot on per usual with the “usable metrics!” It’s all about using the analytics to make more informed data drivin decision, coach and develop your staff, set benchmarks/goals for your organization, and build solid processes!
Environmental space and casework commercial and residential.
4moWhat is products per deal?