Modern Tire Dealer’s Post

Who are the largest commercial tire dealerships in the U.S.? Check out the Top 25 Commercial Tire Dealers List in the October issue of MTD. https://lnkd.in/gyPRbyX9 #moderntiredealer #tires #tireindustry #commercialtires #commercialtiredealers #octoberissue

Randy O'Connor details best practices for independent tire dealerships in his latest MTD column.  https://lnkd.in/gcKYMv7C #moderntiredealer #tires #tireindustry #MTD #bestpractices #tiredealers #tiredealership

#inventory #accumulation #cardealers #passengervehicle #retailbusiness Car dealers face inventory accumulation of 650,000 to begin new year

If you have not yet listened in, Alan Haig and Car Dealership Guy sit down for another great discussion. Alan shares some of the toughest challenges for dealers heading into 2024, what dealership profits are looking like, and other hot topics impacting dealership values. We'd enjoy your feedback and thoughts on the discussion, and where you believe 2024 will take auto retail. Please comment below. https://bit.ly/3TScoVc

When will the industry learn? It's disheartening to see dealerships engaging in unethical practices and even worse when the ownership group and OEMs fail to address the issue. As someone who has re-entered the industry, I understand that consumer challenges are rarely shared with stakeholders. Profit is necessary, but there's a difference between excessive and fair. We need to recognize this for the good of the industry. The MSRP is what the OEM believes is required to operate a dealership successfully. If manufacturers thought otherwise, they would change pricing structures to maximize competitive opportunities. We need to address this issue as an industry and focus on long-term strategies instead of just big wins. The Covid pandemic has made affordable 3-year-old cars non-existent, causing pre-owned sales to plummet. Our service is already on shaky ground with a 70% loss of retention. It's time to stop prioritizing short-term profits and focus on providing excellent customer service to ensure long-term success. As Carl Sewell said, each customer is worth 30 purchases. If dealerships prioritize this strategy, they can still make decent initial profits and retain customers for multiple purchases. AutoCanada, it's disappointing to see you drop the ball on this issue. Let's work together to make positive changes in the industry.

“The industry has an overabundance of cash… and a lot of that money is going to be plowed into buying more dealerships.” Erin Kerrigan Kerrigan Advisors’ commentary from a recent American International Automobile Dealers Association (AIADA) webinar was featured in a WardsAuto article. Erin Kerrigan shares that one of the key drivers of today’s buy/sell market is the fact that dealers are sitting on record levels of cash and looking to deploy their capital into auto retail, the industry they know well. Read the full article: https://lnkd.in/gTYVvdYH #buysell #automotive #auto #dealerships #dealershipprofits #wardsauto

Many of the country’s largest independent tire dealerships have invested in new locations since the last edition of the MTD 100 was published in July 2023. https://lnkd.in/g4EEj4uK #moderntiredealer #tires #tireindustry #MTD100 #expansions #businessexpansion #tiredealers #newlocations

Did you catch us in the latest issue of Canadian Auto Dealer? Dealerships can improve their Financial Services Office #performance with the right combination of #technology, #training and processes from their financial services providers. Will Wheaton, our Vice President of Sales & Marketing, explains how these three areas are crucial to finding tremendous #success in the #Financial Services Office. Check out the article in the February 2024 issue of Canadian Auto Dealer. #financialgoals #automotiveindustry #automotivenews #financialservices #automotivemarketing #automotive #automotivetech #autofinance #financialservicesindustry #automotivetechnology #dealer #dealers #dealership #dealerships #autodealer #autodealers #marketers #businessdevelopment #quebec #alberta #edmonton #montreallife #montréal #montreal #FirstCanadianFinancialGroup #autoindustry #cada #cfla #dealernetwork https://lnkd.in/gSKWD978

2024 is going to be an interesting year for Auto Dealers. It’s going to come down to who knows how to train their staff effectively, plan effectively and hold sales people accountable. To hold someone accountable doesn’t mean to beat them into the ground. It’s to show them how to sale, how to close and how to make something out of nothing. #begreatnothingelsepays

How you can sell more cars and raise your gross profit with just the people currently coming in your dealerships? Let’s talk I will show you how.