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Tag Archive: Consulting

Kory Suppes

NADA Recap: Bringing Innovation to Vegas

NCM Associates had a fantastic time in Las Vegas last week. As a member of NCM’s marketing team, I flew into the convention early and had a chance to explore. I wanted to share my photos with you.

Continuing our Tradition of Innovation

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This is a photo of our booth’s construction, taken a few days before NADA started. I flew into Vegas on Monday morning to supervise the arrival of all our materials—culminating months of planning!

A few days later, other team members from our home office in Kansas City arrived on site to make sure every bit of the 1200 sq. ft. structure was perfect; our largest booth ever! It was quite a job, but well worth the work to give you a chance to learn about the exciting new products NCM is bringing to market.

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This year, in between the acrobatic madness storming through the aisles, booth attendees experienced sessions led by the NCM partners responsible for creating some of the most innovative software in the industry.

Above, Intelligent Dealer’s Frank Sheets answers questions about our newest product, NCM LiveAudit®. Next to him, NCM’s Director of Software Solutions Steven Banks listens intently.

Partnering with Ultimaker

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Demos included latest products and services, such as axcessa and LiveAudit. NCM experts were also on hand to share the best practices of our most profitable clients.

With more than thirty demos scheduled, attendees experienced firsthand some of the advancements NCM is spearheading for the industry. And, they also walked away with one of our inventive booth giveaways, a 3D-printed car or business card holder.

Did you get a chance to watch the printers in action? If not, here’s a quick video showing the process.

Breaking it down

I enjoyed my time at NADA. Even with all the buzz, I found time to listen to attendees’ great success stories and how they began their career in the auto industry.

It’s thrilling to attend the go-to event for everyone in the auto industry. The three-day event featuring booths bigger than they have ever been, jumbo LED screens and more tchotchkes for your kids than could fit in your carryon. (Or, for yourself: no judgement here.) What’s not to love?

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A big “Thank you!” to everyone who attended and stopped by our booth. We look forward to seeing everyone in New Orleans next January 26-29.

If you didn’t find the time to stop by our booth during the hustle and bustle of the convention and would like to learn more about NCM, drop us a line at info@ncmassociates.com or visit ncmassociates.com.

 

Permanent link to this article: http://blog.ncm20.com/2016/04/nada-recap-bringing-innovation-to-vegas/

Paul Stowe

Check Your Used Vehicle Manager’s Thinking… Then Have a Conversation

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Mr./Ms. Dealer:

There continues to be a great deal of misconception in sales managers’ thinking about why they’re not able to increase used vehicle volume. Industry metrics confirm that those dealers not performing at a minimum 1-to-1 New-to-Used retail sales ratio are just not participating in the opportunities of the current market.

So why do our managers continue to have these misconceptions? What follows are some common reasons we hear during our dealership consulting engagements. My responses should help you combat these misunderstandings that are prevalent in our industry today, and they’ll also help you have the conversation that will turn this thinking around.

“I need more inventory to sell more cars.”

You might, but first, do you understand and practice an aggressive “turn” mentality? If not, you are five years behind in your skill set. If you have an aging issue right now – why? Should your dealer give you more dollars to invest unwisely? Just a hint… great operators do believe a 30-day (or faster) turn is attainable. Our Benchmark metrics validate that a 45-day turn is very common, regardless of franchise. Do you understand that if you turn your inventory more efficiently, your volume will increase?

“I cannot find the ‘right cars’ and when I do, they are too expensive.”

Come on! The vehicles are out there! You might have to work every day to source them. What makes you think you are smarter than the market which dictates the cost and sales price of inventory? What is your acquisition plan? What do you buy each week to inventory?

“If I price to market, my grosses are too low.”

This is so common. Question: Have you ever put more money into a trade to make a new car deal? If so, of course you reduced the new car gross – right? If not, what have you just done to the integrity of your pricing model and your used unit gross potential? (Most OEM incentive money is being paid on new car sales. Why in the world would you destroy your acquisition disciplines, bumping used trade-in inventory values and not reduce new car gross to its true transaction value?)

A new car deal is a new car deal, albeit an OEM incentivized transaction. A used vehicle trade acquisition is an investment decision. Buy it right or understand the impact on potential grosses, salability, and aging of your used vehicle dollar investment; in other words, your true return on investment of your dollars, Mr./Ms. Dealer.

Have the conversation.

Understand and clear the air on these misconceptions, if they apply. Ask your manager to give you a plan to increase used unit volume profitably beginning right now. Get it in writing. There is too much missed profit opportunity, let alone the impact of adding new customers to your owner base.

UV Training

Permanent link to this article: http://blog.ncm20.com/2014/07/check-your-used-vehicle-managers-thinking-then-have-a-conversation/