The automotive world is changing right before our eyes. What used to be a foundational best practice, twenty, ten, or even five years ago, may not be working in today’s marketplace. The best dealers in the business can quickly adapt to these changes and utilize them to their advantage. So how are dealerships evolving to keep up in this hyper-competitive landscape? NCM Associates took the most pressing challenges facing dealerships right now, and found real-world solutions that are working on the floor in dealerships across North America.
How Do I Improve the Hiring Process at My Dealership?
Most automotive dealerships have issues acquiring the proper talent to provide their customers with top-notch service, while simultaneously driving profit to their business. NCMi instructor Danny Anderegg shares how he has personally seen dealerships tackle this problem and how your hiring process can cost less by focusing on this one thing.
How Can I Stop Losing Profits in my Fixed Operations?
Dealerships of all shapes and sizes are continuing to struggle and are seeing their profit margins dip in Fixed Ops. While this is a universal issue facing the industry, many dealers have found proven ways to prevent profit loss and move the needle the other direction. Industry expert Kevin Cunningham shares his insider secrets, gleaned from his 20 Groups, to help your dealership Fixed Operations.
Can I Increase Profits Without Dramatically Increasing Sales?
OEMs dictate so much in the new and used vehicle sales at dealerships that many believe the only way to increase profits is to increase the volume of cars sold. If you truly want to see gains in your Variable Operations, you need to listen to NCMi instructor Rick Wegley. He shares NCM’s top tips for increasing profitability on each car you sell.
How Should I Invest in my Business to Maximize Profits?
Identifying the best growth opportunities in your dealership is not always easy. NCM Moderator Tony Albertson shares how other successful dealers are looking to improve their stores, and where you can get the biggest return in multiple departments.
How Do I Alleviate Margin Compression at my Dealership?
As Tom Richards, Vice President of NCM Labs, explains, the secret to understanding margin compression is to first understand your data. By evaluating your financial and operational performance against regional data points, your store can quickly and easily find growth opportunities and prevent expenses from spiraling out of control.
Learn more from our automotive experts by joining an NCM 20 Group, scheduling in-dealership consulting, or signing up for an NCMi course. You'll be glad you did.