Between ongoing talent and inventory shortages, operating a dealership has arguably never been more challenging, and it doesn’t seem to be getting any easier anytime soon. With more competition for cars and qualified employees, dealerships have to do more to sustain profitability by improving operations.
Garry Shirley, Performance Manager at Dealertrack DMS, recently sat down with a panel of dealers to discuss key ways to improve operations and stay competitive in a changing automotive industry. (Watch the discussion here.)
Tips for Optimizing Operations
While sustaining profitability is an ongoing effort for business owners, no matter the current challenges, recent challenges in the automotive industry have put considerable stress on retaining talent and hiring for key positions in the service lane. Another topic trending for General Managers is the ongoing inventory shortage. How do dealers keep their sales team operating at peak performance when inventory remains low? In discussions with high-performing franchise dealerships, Gary found it often comes down to uncovering the right metrics and utilizing reporting in order to stay competitive.
Even the basic building blocks of a dealership require attention to make sure they’re operating smoothly. See how thriving dealers are keeping their sales and operations sharp in order to sustain profitability.
Watch the discussion here and check out the new resource center for more tips and insights on staying profitable in today’s competitive market.