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ProfitTime in Practice: A Deeper Dive Into Bronze Vehicle Pricing

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When dealers are making record profits and selling all the used vehicles they can acquire fairly quickly, it can be difficult to convince them that their current decision-making could be better or improved. Such is the case with used vehicles the ProfitTime system identifies as Bronze vehicles. The vehicles earn the Bronze designation because they […]

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5 Best Practices that Shaped Used Vehicle Success in 2021

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It has been a remarkable year in used vehicles in 2021. Based on what I see and hear, many dealers will enjoy the dual blessing of record-setting used vehicle sales and profits as they close out their books for the year. An even larger number of dealers will celebrate the unprecedented profitability they achieved in […]

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A Key Question: Is the Wholesale Market Turning?

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Several dealers astutely noticed a slight drop in wholesale values in the past week and asked the same question: Is the wholesale market finally cooling off? Unfortunately, the answer to the question probably won’t be very satisfying to dealers and used vehicle managers. In the past week, wholesale values did, in fact, drop. But the […]

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2021 Yields Two Positives to Remember in the Coming Year

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As December arrives for dealers, it’s worth reflecting on two positive and proactive things the best dealers did this year to achieve record-setting used vehicle sales and profitability, despite the high cost and relative scarcity of available inventory. The first thing could be described as “the Big Pivot,” wherein dealers effectively turned the tables on […]

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A Look Behind Record-Setting Dealership Profitability

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A piece in Automotive News this week underscores a remarkable achievement by dealers across the country. By the end of September, dealership net profit surpassed $3 million for the current year, topping the record $2.1 million in net profit dealers reported for all of 2020. Even better, analysts expect the dealer-favorable market conditions that have […]

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An Informative Convergence at Two Different Public Companies

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Two public companies with distinctly different business models are learning they have similar strategic priorities. The two companies are CarMax and Carvana. The former’s been a longtime competitor and player for dealers in used vehicles. They are arguably the first to turn the idea of buying inventory from customers into an operational advantage across their […]

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A Remembrance for a Dealer Friend and Community Pillar

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I was sad to hear that Northwest Indiana dealer Cary Bosak died suddenly last week. I’m still processing the news. My friendship with Cary began a few years ago at a tailgate before an Indiana University game, when another friend introduced us. Neither Cary nor I did much tailgating that day. Instead, we talked for […]

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