Part one of three in our Used Vehicle Management Program is the most impactful course in variable management, as most dealerships are struggling to maintain consistent profitability in this department. So much has changed in the last 10 years, there is much to be learned, understood, and embraced. This course will teach all the key elements to predict profitability.
In this course, students will experience instructor-led interactive discussion, department analysis tools, and classroom lecture. This course will utilize Guarantee of Action (GOA) plans to provide a roadmap for improvement that is individualized for each student.
Class Length: 2 ½ days
Key Objectives & Competencies:
- Understanding the aging process and how to manage it
- Develop a daily process to review all new trades and purchases
- Understand all roles and responsibilities of a used vehicle manager
- Calculate daily holding cost, understand probability of sale, and implement a bucket system to manage inventory
- Implement the daily trade walk/stock walk
- Clearly define and implement an effective appraisal process for your store
- Understand and rate your dealership on the 30 key processes for the used vehicle department