Katie Merx on LinkedIn: What’s new, who’s who and more on our top 150 dealership groups list (2024)

We have a ways to go BUT the auto market is starting to move in the right direction as inventories rise in relationship to sales. You may actually have a choice of vehicles at your local dealership which will help with prices.

With dealership profits declining, how is your firm setting records for the highest price ever paid for a single dealership?What lies ahead in the buy-sell arena as dealership profits begin to normalize after an unprecedented run during the past few years?Alan Haig answers these questions in the Automotive News dealership buy-sell expert Q&A: https://lnkd.in/gCaGxg-J

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If you are a dealership owner or GM, you're probably familiar with the recent J.D. Power and LMC Automotive sales forecast, which predicts an almost 10% rise in retail auto sales for April. Great news for dealerships that have been struggling to keep up with the market in the wake of pandemic-related production shortages. As inventory levels start to edge closer to normal again, pent-up demand from customers is driving continued sales. With the summer selling season just around the corner, it's important for dealerships to ensure that your DMS is up to the task of handling increased business without increasing frustration levels, if it isn’t, let’s talk about DealerBuilt, The Right Product, The Right People, The Right Price https://lnkd.in/eTZwFK4r#TheProvenDMS

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Five of the six major publicly traded franchiseddealershipgroups reported double-digit percentage declines on new-vehicle gross profits during the second quarter, as inventories grew and rising interest rates cut into shoppers' buying power. That came as all of the publics except Asbury Automotive Group Inc. posted new-vehicle sales gains in the quarter.The six publics —Penske Automotive Group Inc.,Sonic Automotive Inc.,Asbury,Group 1 Automotive Inc.,Lithia Motors Inc.andAutoNation Inc.— collectively averaged about $5,000 in profit on each new vehicle sold during the second quarter, compared with about $2,000 in the second quarter of 2019, before COVID-19 disrupted the industry in 2020.Today's new-vehicle profits are likely to fall further, analysts expect, though auto retailer CEOs predict the "new normal" gross on each new vehicle is likely to remain above pre-pandemic levels.Read the Automotive News earnings roundup from me, Jack Walsworth, Gail Kachadourian Howe and Mark Hollmer, and compare your own dealership's gross profit per vehicle to these six major players. . #earnings #cardealers

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The market continues to be strong for dealers looking to buy or sell dealerships. Even though profits are starting to drop, blue sky values remain at historic highs as compared to pre-pandemic levels.I enjoyed the opportunity to discuss what we are seeing in auto retail today and what to expect as we look forward in this Automotive News Buy-Sell Expert Q&A.What are your thoughts?

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Good prices are the initial draw for customers to explore your dealership.For you, that starts with understanding what a good price is in your local market area. However, it's not just about attracting potential buyers; it's about retaining them. That's the value part.Dealerships offer more value in their service departments. But vehicle owners in your area won't know it unless you prove to them you are competitively priced first. Don't keep your dealership and your customers in the dark. Transparent pricing is the start of any successful service department promotion. Contact InteliChek today to uncover your competitive prices!#fixedops #value #competitivepricing #servicedepartments #Cars

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📢 Attention, Dealerships! 🚗Did you know that increasing your inventory can lead to a significant boost in sales? According to Cox Automotive's analysis, dealerships with a larger inventory have experienced a remarkable 20% improvement in year-over-year sales. As we gear up for May '23, Cox Automotive predicts national sales to surpass 1.35 million vehicles. Now, we want to hear from you! How's your dealership doing? Are you ready to seize the opportunities that lie ahead? #ColoradoAutomotiveDealers #ColoradoAutoIndustry

In case you missed it, Haig Partners, LLC was featured in the Automotive News Buy-Sell Expert Q&A. Alan Haig discusses how dealership values remain strong even though dealership profits are starting to drop.Alan also shared some perspectives on the auto retail buy-sell market and answered questions, including: > What changes are you seeing in auto retail? > Are there any good developments for retailers? > What is the net effect of higher sales, lower gross profits on vehicles and more service work? > Has this decline in profits hurt buy-sell values? > What else are you seeing in buy-sells? > What advice would you give to someone interested in selling their dealership?https://lnkd.in/e9na2mv5

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In Episode #17 of the Volie Rally, Scott Davis and Jake Davis discuss key insights into BDC drop rates and missed calls. It is important to remember that people calling in are trying to do business with you. The data shows that 62.8% of people who drop do not call back within seven days. Of those people, 74% had previous appointments in the DMS. Make it a goal to empty the callback queue every day.Learn more today at volie.com#bdc #automotive #auto #dealership #dealers

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Auto Dealer Owners & Managers, are you looking for something to provide a spark at your dealership. Our Dealer Branded Loyalty and Retention program truly is a game changer!! AND THE CUSTOMERS LOVE IT!!!I'll let the results speak for themselves.....Message me to set up a 45 min Zoom call. If you're a competing dealer in either of these markets. Please accept my apologies. 😆 #dealership #autodealers #autosales #fixedopsroundtable #fixedops #customerretention #cardealers #newcarsales #usedcarsales #automotive #automotiveindustry #automotivemarketing #customerloyalty

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