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10 min read
Drive Dealership Profitability & Growth by Speeding the Process from Auction to the Lot
10/02/2018
Infusing speed and efficiency into the wholesale-to-retail process — from inventory identification, acquisition and floor-planning to inspection, transportation and merchandising — is not only a way to increase inventory turn, but it's also a particularly effective and increasingly necessary way that progressive dealerships can help overcome margin compression. As used retail gross margin has steadily declined from 13.7% in 2011 to 11.7% in 2017 (exacerbated by…
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Floor Plan
Acquisition
Wholesale
Reconditioning
Logistics
Operations
Inventory
5 min read
Where used cars really come from
07/10/2018
That sea of used cars on a dealer's lot suggests they came from trade-ins, but that's often not the case. The little-seen world of wholesale auto auctions is where the secret life of used cars plays out: It's where the companies that sell used cars come to get them. I recently spent the morning at the Manheim SF Bay auction facility in industrial Hayward, California. It's…
Read Article
Reconditioning
used vehicle market
News Coverage
23 min read
Podcast: Janet Barnard & Joe George of Cox Automotive
11/10/2017
Shortly after she was promoted to the role of chief people officer of Cox Automotive in late September, we caught up with Janet Barnard, along with Cox Automotive's Joe George, at Cox Enterprises headquarters in Atlanta. Listen here›
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Reconditioning
Mobility
Fleet Management
News Coverage
10 min read
Turn to Earn: Speeding the Wholesale-to-Retail Process to Grow Profitability
11/29/2016
Since 2009, the gap between list price and transaction price has steadily declined. To overcome this profit margin compression, dealers must increase overall operational profitability by: Reducing overhead Freeing dealership resources to focus on profit centers Selling more vehicles at a faster rate rather than maximizing gross per unit Infusing speed and efficiency into the wholesale-to-retail process — from inventory identification, acquisition and floor-planning to inspection, transportation and…
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Inventory
Acquisition
Wholesale
Merchandising
Reconditioning
Inventory
3 min read
Vehicle Odor Impact on Auction Price
10/06/2016
Many consignors struggle with the negative impact vehicle smoke or foul odor has on auction prices. Knowing retail buyers will avoid these units, dealers recognize they may incur additional expense in an attempt to disguise or remove the odor. To help sellers and buyers understand the sale price implications, Manheim Consulting quantified the auction price deterioration caused by condition-report-noted odor and highlighted ways to come out…
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Reconditioning
Inventory
4 min read
Five Pointers to Improve Your Used Vehicle Reconditioning Process
01/23/2016
By Dale Pollak Founder, vAuto You'll get a range of responses when you ask dealers how much time it takes to recondition Used vehicles. The best-performing dealers these days consistently get the get the job done in 24 hours or less. Meanwhile, other dealers report their reconditioning turnaround times run seven days or more. The disparity owes to two chief factors: The degree to which the…
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Reconditioning
Inventory