4 Recession Survival Tips For Car Dealerships

4 Recession Survival Tips For Car Dealerships

4 Economic Downturn Survival Tips For Vehicle Dealerships

You have probably seen the ads: BUY GOVERNMENT CARS AT AUCTION FOR $200. The truth is that you’ll be unlikely to pick up a nearly new, high-end car in perfect condition for $200. However, you CAN find great deals on used cars at government auto auctions. (By the way, government auctions are not limited to cars, but can include boats, aircraft, office equipment, furniture, heavy machines, and even foreclosed or seized land and houses.) Government auto auctions are held all across the country in many locations. Information regarding the auctions is available online for from sites that generally charge a small membership fee.

Cars will change more dramatically than ever in the next few years, and we will be that much more dependent. They’ll change the way we drive, work and live. They’ll be better transportation, smarter and more dedicated to serving our every wish, and adding new dimensions to our lives. Watch what happens.

Now that you understand why you need to do some advanced work, let’s talk about the exact information you need to be aware of before you go out shopping for an RV.

Set a limit that you are willing to spend BEFORE you get to the auction and do not go beyond that limit. Too often people get caught up in the frenzy of bidding and chase the price of a car well above what would be considered a good deal.

Due to the declining market share, many Big 3 dealers are losing money. This is why Detroit automakers are finding ways to recuperate. According to the National naja.com.ng, 28.6 percent of Chrysler LLC, Ford Motor Co. and General Motors Corp. dealers broke even or lost money in 2007. Foreign-car dealerships, meanwhile, only have 14.5 percent.

With the consolidation on the way, many single-brand dealerships will be affected. One of them is Gene Beltz’s Shadeland Dodge, which started in 1970. Chrysler, under its new leadership, wants to jettison hundreds of single-brand dealers like Shadeland.

The NADA Guides have been around since 1933 offering a guide to car dealers to determine the value of used cars. The NADA guides provide vehicle information to the majority of credit unions, banks, dealers, fleet and lease organization, government agencies, insurance companies and financial institutions.

10) What is your percentage of repeat business? Almost nobody will be able to answer this. That’s because most dealers don’t have any repeat business. If a dealership isn’t proud of their repeat business percentage, they are probably not doing a very good job. 45% of all our business comes from repeat and referral business.