Beware the Pitfalls of a “New Car Masquerade” in Used Vehicles

Beware the Pitfalls of a “New Car Masquerade” in Used Vehicles

In the past few weeks, I’ve come to understand what I’d call a “new car masquerade” in used vehicle departments across the country. Perhaps the circumstances are familiar at your store: The new car department remains under-stocked on inventory, and you’ve got some would-be new car customers who can’t get the new car they want […]

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A Primer on Used Vehicle Price Sensitivity

A Primer on Used Vehicle Price Sensitivity

As the used vehicle market returns to more normal conditions, I feel compelled to reiterate a perspective on retail price sensitivity that seems to have been lost over the course of the past two years. My perspective is shaped from conversations with dealers who worry that the high gross profits they achieved last year are […]

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It’s a “Whole Truth” Tuesday!

It’s a “Whole Truth” Tuesday!

I thought I’d put out a quick post to highlight that, after production and supply chain delays, my latest book, Whole Truth: A Fresh Money-Making Method to Wholesale, the Most Misunderstood Side of Your Business, is now officially available on Amazon and other retail outlets. The book aims to help every dealer recognize how their […]

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A Rosier View of A Recession, Plus a Moment of Used Vehicle Opportunity

A Rosier View of A Recession, Plus a Moment of Used Vehicle Opportunity

If you follow the news and related commentary on social media, you may well be thinking that the United States is heading toward a recession, if we’re not already in the initial stages of one. I’ve heard similar sentiments in my conversations with dealers and, over the Fourth of July weekend, with an extended group […]

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A Mid-Year Gut-Check on Used Vehicle Market Conditions

A Mid-Year Gut-Check on Used Vehicle Market Conditions

As we close in on the halfway point of 2022, I think most dealers would agree with the following statement: While used vehicle sales and profits remain solid, they are nothing like they were at this time last year. The sentiment flows from two realities that are taking shape broadly across the industry and in […]

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A Memorable Honor from NIADA

A Memorable Honor from NIADA

I received a humbling and significant honor from NIADA (the National Independent Automobile Dealers Association) yesterday at the group’s convention in Las Vegas. They presented me with a Ring of Honor, an award they give to select leaders who advance the growth and professionalism of the automotive industry. It was touching to receive the award. […]

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A Call for “Bucket”-Minded Inventory Acquisition

If you scrolled the clock back 15 or 20 years, you’d find very few dealers who managed their used vehicle inventory in what we now call “buckets.” Rather, dealers managed used vehicles in blocks—cars that were less than 60 or 90 days old and those that weren’t. Over time, the bucket-based approach to inventory management […]

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Where Dealers Get Their Most Profitable Inventory

Most dealers would agree that acquiring inventory over the course of the past two years has grown more complex and difficult. We now understand that, if you want to maintain, if not grow, your share of money-making used vehicle sales, you can’t rely on trade-ins as much as you did in the past. Similarly, while […]

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Rediscovering the Past and the Profound While Packing

I’ve been busy the past week, helping my wife, Nancy, pack our belongings into boxes as we officially relocate to Austin, Texas. I did an informal poll of family and friends and arrived at a near-universal conclusion—no one really likes moving. True, there’s the anticipation and excitement of setting down roots in a new place. […]

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