http://www.dalepollak.com Used Car Market - A Guide for Success Sat, 04 Feb 2012 22:59:08 +0000 en hourly 1 http://wordpress.org/?v=3.1.3 http://www.dalepollak.com/2012/02/04/dont-online-auction-proxy-bids-work-dealers/ http://www.dalepollak.com/2012/02/04/dont-online-auction-proxy-bids-work-dealers/#comments Sat, 04 Feb 2012 22:59:08 +0000 dpollak http://www.dalepollak.com/?p=2577   I’ve been asking that question lately as I hear two recurring complaints from dealers about their ability to buy vehicles via online auction proxy bids: 1. The success rate with proxy bidding is too low. Dealers say they may acquire one out of every 10 vehicles they try to obtain with proxy bids—a 10 [...]]]> http://www.dalepollak.com/2012/02/04/dont-online-auction-proxy-bids-work-dealers/feed/ 2 http://www.dalepollak.com/2012/01/22/looktobook/ http://www.dalepollak.com/2012/01/22/looktobook/#comments Sun, 22 Jan 2012 22:49:37 +0000 dpollak http://www.dalepollak.com/?p=2563 I received the following email regarding look-to-book. My response is below. Could you tell me what the look to book % should be? Thanks Pam   Pam, There are many variables that can affect look-to-book. Some of these include the strength of your new car franchise, whether you require customers to make a firm commitment [...]]]> http://www.dalepollak.com/2012/01/22/looktobook/feed/ 1 http://www.dalepollak.com/2012/01/18/cars-pack-money/ http://www.dalepollak.com/2012/01/18/cars-pack-money/#comments Wed, 18 Jan 2012 19:09:43 +0000 dpollak http://www.dalepollak.com/?p=2554 Here’s an exchange that I recently had with a used car manager. Dale, My name is Josh. I am the used car manager at a Toyota store. At our store, we averaged 46 new and 30 used for 2011. We have had modest growth in used cars the last couple of years until last year [...]]]> http://www.dalepollak.com/2012/01/18/cars-pack-money/feed/ 0 http://www.dalepollak.com/2012/01/17/unknowns-car-retailing/ http://www.dalepollak.com/2012/01/17/unknowns-car-retailing/#comments Tue, 17 Jan 2012 18:32:45 +0000 dpollak http://www.dalepollak.com/?p=2545 I recently read a column in the New York Times that discussed the “known unknowns” of our current time. The writer, author Geoffrey Wheatcroft, defines the term as “things that were not at all inevitable, and were easily knowable, or indeed known, but which people chose to ‘unknow.’” He then describes how “known unknowns” were [...]]]> http://www.dalepollak.com/2012/01/17/unknowns-car-retailing/feed/ 6 http://www.dalepollak.com/2012/01/13/early-results-provision-system-powerful/ http://www.dalepollak.com/2012/01/13/early-results-provision-system-powerful/#comments Fri, 13 Jan 2012 14:39:24 +0000 dpollak http://www.dalepollak.com/?p=2538 Marc Ray of Grogan’s Town Chrysler Dodge Jeep in Ohio sent me an email this morning telling me that his AutoTrader Demand Index for December 2011 was 210.  The demand index is a measurement that shows how well a dealer’s inventory is aligned to what shoppers in their market are searching for on AutoTrader, relative [...]]]> http://www.dalepollak.com/2012/01/13/early-results-provision-system-powerful/feed/ 0 http://www.dalepollak.com/2012/01/10/pay-plan-build-transparency-hold-gross/ http://www.dalepollak.com/2012/01/10/pay-plan-build-transparency-hold-gross/#comments Tue, 10 Jan 2012 16:48:55 +0000 dpollak http://www.dalepollak.com/?p=2528 I’m seeing a new breed of pay plans emerge at dealerships that seek to balance transparency with customers and the store’s need to make a profit on every deal. Here’s an example from a dealership that has achieved double-digit growth in its used vehicle sales since adopting velocity principles, market-based pricing and a transparency-minded sales [...]]]> http://www.dalepollak.com/2012/01/10/pay-plan-build-transparency-hold-gross/feed/ 3 http://www.dalepollak.com/2011/11/16/inefficiencies-create-tough-ownership-challenges/ http://www.dalepollak.com/2011/11/16/inefficiencies-create-tough-ownership-challenges/#comments Wed, 16 Nov 2011 23:20:35 +0000 dpollak http://www.dalepollak.com/?p=2472 This week’s Automotive News brings word that dealers are throwing in the towel rather than investing more in facility upgrades required/requested by the factories. Dealership brokers estimate 40 percent of all buy/sell deals today arise from dealers facing needed facility improvements. On one hand, it saddens me to see our industry come to a point [...]]]> http://www.dalepollak.com/2011/11/16/inefficiencies-create-tough-ownership-challenges/feed/ 0 http://www.dalepollak.com/2011/11/08/ill-give-inbut/ http://www.dalepollak.com/2011/11/08/ill-give-inbut/#comments Tue, 08 Nov 2011 16:20:55 +0000 dpollak http://www.dalepollak.com/?p=2421 I’m getting flooded with calls and e-mails from dealers who want to know more about the 11 a.m. (Central) webinar on Friday (11-11-11) before they commit to participating.  So, I’ll give in just a little bit: The webinar will be the industry’s first peek at vAuto’s new used vehicle management engine that incorporates real-time market [...]]]> http://www.dalepollak.com/2011/11/08/ill-give-inbut/feed/ 0 http://www.dalepollak.com/2011/10/14/vauto-shares-velocity-principles-digital-dealer/ http://www.dalepollak.com/2011/10/14/vauto-shares-velocity-principles-digital-dealer/#comments Fri, 14 Oct 2011 16:39:30 +0000 dpollak http://www.dalepollak.com/?p=2393 vAuto’s John Griffin and Bill Reidy recently spoke at the Digital Dealer Conference in Las Vegas. “The RealDeal sales process presentation was very well-received,” says Reidy, who outlined this transparency-focused approach to vehicle sales. “It’s striking how many more dealers are more than just curious about RealDeal selling. They recognize it validates what consumers have already learned [...]]]> http://www.dalepollak.com/2011/10/14/vauto-shares-velocity-principles-digital-dealer/feed/ 0 http://www.dalepollak.com/2011/10/07/online-vehicle-shoppers-albert-einstein/ http://www.dalepollak.com/2011/10/07/online-vehicle-shoppers-albert-einstein/#comments Fri, 07 Oct 2011 18:42:45 +0000 dpollak http://www.dalepollak.com/?p=2380 I’ve been thinking a lot lately about how and why vehicle buyers use the Internet to shop for and ultimately purchase vehicles. In recent months, AutoTrader.com has published dealership survey data that shows 80 percent of online vehicle shoppers don’t call or e-mail a dealership after they’ve scouted units online—they just show up at your [...]]]> http://www.dalepollak.com/2011/10/07/online-vehicle-shoppers-albert-einstein/feed/ 11