Video Blog/Jeff Sacks: Jeff’s 3 Keys to Dealership Success + Profit

Video Blog/Jeff Sacks: Jeff’s 3 Keys to Dealership Success + Profit

Dealer Digest Daily Headline  
Managing Inventory Today: 3 Keys to Ongoing Dealership Success + Profit

Want to see your dealership turn inventory more quickly – and at a higher margin? Ready to make your service techs more productive – like 200 billable hours per month productive?

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Video Blog/Jeff Sacks: Now is the Time to Trim Used Vehicle Inventory

Video Blog/Jeff Sacks: Now is the Time to Trim Used Vehicle Inventory

DealersEdge Headlines

Dealers may be riding the used car wave today, but there is a hard landing waiting just ahead.

In his latest DealersEdge Video Blog, dealership management expert Jeff Sacks engages in a little trend spotting. As he travels the country, Jeff reports that he sees an alarming number of franchised car dealers with aged used vehicles on their lots in the 70- to 80-day range and older. That may not be a problem today since retail used car prices seem firm, but there could be trouble on the horizon.

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Video Blog/Jeff Sacks: As Sales Show Improvement Now is Time to Tune Up Your Customer Retention Process

Video Blog/Jeff Sacks: As Sales Show Improvement Now is Time to Tune Up Your Customer Retention Process

DealersEdge Headlines

With the somewhat improving economy, dealers are admonished to sharpen their focus on how many new vehicles customers are coming back for in service.

In his video blog posting this week, Jeff Sacks focuses on what happens directly after the sale: does your dealership have a working process for bringing new car customers back into the service department? He suggests this process should bring multiple benefits; the profits to be earned in service plus the increased likelihood that the customer will become a repeat new car customer down the road.
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Managing Your Interest Costs

Managing Your Interest Costs

For many years, dealers have had the luxury of operating in a low interest environment. Optimization of cash flow was left to those dealers who were either under-capitalized (and had no option), or well-versed and disciplined in asset and cash management techniques, thus taking advantage of optimizing their cash flow and relentlessly reducing their borrowings.

But, as interest rates rise, the cost of not aggressively managing your assets increases. There are a number of asset management strategies that dealers need to consider in order to free up cash flow and use this new found cash flow to offset their higher interest burden.

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