I personally want to welcome you to my new Blog: Velocity.
I have a great love of the Used Car business, and a lifelong passion at finding ways to improve it.
I apply my 35 years of experience in the Used Car business into my book “Velocity”, my many speaking engagements, my company vAuto, and now this interactive Blog. I love to visit dealerships and learn more about the relevant issues, and have a great desire to find ways to use modern technology to improve dealership performance and help them in any way I can.
I’m hoping this Blog can be interactive and informative, and we can all have some fun with it too!
Enjoy!
Dale Pollak
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Saw Dale’s keynote speech at CPO. It was awesome.
I have a question for Dale and any other contributors to this blog regarding the fact that the Internet has changed what we can charge for used cars. There is NO DOUBT that it was common policy to take a new trade or purchased vehicle and mark it up an amount, say $3000. to $4000. or higher in a hi line store.
This practice was used as justification to charge full boat retail for internal reconditioning because, after all, all you do is mark up the inventory figure and the buyer pays it.
As a side note, CarMax does not mark up recon and internal work.
Is this practice going to have to be re-examined?
Should the service department’s best customer not get a discount? Or is the priority to bush the sales department and put them at a disadvantage versus the volatility of the market. Its enough of a challenge to keep water out of the used car inventory as it is. Having to wholesale cars because one can’t afford to recon them is costly. I’ve heard it said that retailable $8,000. to $12000. dollar units can’t be bought or traded for, they must be made through recon.
What do others think about this?
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