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“Lincoln Dealers” the truest form of entrepreneurship

I have had the privilege in my automotive career since 1971 to see a lot of old brands go out and a lot of new brands come in, with many model changes.  I, like many of you out there, suffered in 1980/81 with a Chrysler franchise and all the problem
Jul 1, 2011

Effective Communication is Essential to Avoiding Litigation

Last week I participated in a mediation conference and explained to a consumer that the “issue” they were experiencing with their vehicle was not caused by a defect, but instead actually was a normal operating condition of the vehicle and a by-pr
Jul 1, 2011

Fewer Service Bays Mean More Opportunities!

GRAPH TO BE INCLUDED There are 50,000 fewer service bays in the United States than there were ten years ago. According to The Lang Report, there were 1,180,000 services bays in 2010 compared to 1,230,000 in 2000 (see graph below). Dealerships lost a
Jul 1, 2011

Sub-prime Acquisition Fees Being Attached

So…what do you do when a self-professed liar and thief who used to be one of yours now turns has back on the industry and kanoodles with the dark side? Get your house in order, because he knows where the cockroaches are hiding. And he has no compun
Jul 1, 2011

The New Playing Field: Today’s Women’s Market

Salesperson Rick escorts prospective customer Sandra to the door and shakes her hand then turns back to his office. Rick (to himself): “That went great. I managed to hit every selling point and ask all the important questions. I’m sure she’s co
Jul 1, 2011

Research is Increasingly Important!

Two years ago I wrote an article on the importance of local dealer research, and why “throwing your advertising budget dollars against the wall,” hoping some of it will stick just won’t work anymore.  Well, of course it might work, but certain
Jul 1, 2011

Eight Fresh Ideas to Generate Cost Savings, Top Line Revenue, Risk Mitigation

As a purchasing group, we are continually investigating, interacting with and meeting new suppliers and industry experts who have proven they can impact a business in a very positive way. Many of these suppliers have new and innovative approaches to
Jul 1, 2011

Should you Own your Dealership Real Estate? What is the Opportunity Cost?

Dealers often assume that dealership real estate is a good investment. In this low interest rate environment, why wouldn’t you buy your property, particularly if you have the capital for a down payment and can get financed? Commercial mortgage rate
Jul 1, 2011

At Least One Manufacturer is Demonstrating Honesty

I wrote in last month’s column that the expected limited availability of vehicles across all linemakes, and in particular Japanese manufacturers, was going to be serious concern on several fronts. At this writing, Toyota’s production is currently
Jul 1, 2011