Used Car Manager Program
ProfitFocus has the opportunity to analyse the results of thousands of dealership operations. This analysis has led us to conclude that the large majority of these dealerships who are not performing to their profit potential are missing out because of difficulties in their used car departments.
We believe that these difficulties no doubt have been contributed to by elements such as the increasing private to private market enabled by the internet, new model proliferation, oversupply of new cars etc. However, we are convinced that the real issue and reason for poor used car performance is really a matter of emphasis and commitment.
Question: What is good and bad about your used car department?
Answer: Used cars are a demand pull business not supply push like new cars. The good thing is the dealer has the opportunity to select what he will stock and how much he will pay for it. Unfortunately once having made this decision many are tempted to leave the car to sit for too long and have rising holding costs eat up any eventual gross profit.
This two day training program addresses this problem by providing easily understood structure and process as well as answering the many other challenges dealers face in making a good used car business.
- An understanding of why the used car department is key
- Understanding the importance of return on investment
- Stock management and pricing policies including:
- What holding costs do to your profits
- How to price stock
- The dynamic pricing model
- Learn how US used car superstores are thriving (surviving) by adapting their operations to the new market
- How to stock what sells (cars that don’t compete with new vehicles)
- Managing a used car department
- Incentive programs for used car departments
- A strategic plan for your used car department
- The financial dynamics of a dealership
- Used vehicle industry overview
- The importance of return on investment
- Stock management and pricing
- Selection, recruitment and training
- How to stock what sells – stock matrix for used cars
- Planning and strategy for your used car department
- The Used Car Management training is a two day workshop
What else is included?
- Morning tea, lunch and afternoon tea
- Course binder and materials
- Comprehensive take home case studies
- ROI Calculators & stock matrix template
People who attend this course also attended
- Academy of Excellence
- Sales Management