- Embrace the balance between a vehicle’s desirability and its price. Top performers leverage data to dictate when it is appropriate to “go for the gross” and when the window for profit is short, so they need to price aggressively from the start.
- Solve reconditioning delays. It may require dedicated techs, staying open late or having it done at auction to save time and eliminate logistics. Top performers recognize that speed is paramount.
- Monitor Cost to Market which compares the retail value of a vehicle to the total investment in a vehicle. Efficient dealers minimize costs to enable aggressive acquisition of inventory and deliver maximum ROI.
Financial statements. Vendors. OEMs. Your CRM, DMS and BDC. You’re inundated with data and reports, but which metrics matter most? Cox Automotive studied vast amounts of data from thousands of dealers, including the highest performers, to come up with a list of Key Performance Indicators (KPIs) and best-in-class benchmarks.
See how you stack up against the highest performers in the industry. Download the Top 12 Used Car KPIs and Benchmarks below or check out the full report here: 2018 Used Car Market Report & Outlook.
Metrics that Matter
Download the Top 12 Used Car KPIs and BenchmarksDownload