"Were making more net profit in a month now than we used to make in an entire year. That speaks to two things how bad we were before and how good we are now," says Paul Lynch, general sales manager at DePaula Chevrolet, Albany, N.Y., who has become a turnaround specialist in the stores used vehicle department over the past 15 months.
Check out some of these results:
Volume: The store has grown from selling an average 60 used vehicles/month, to an average 130/month.
Gross Profit: With the extra volume, the dealerships front-end gross profit average has improved to nearly $1800/unit. Each sold unit also averages $1,000 in F&I and $350 in service gross profit.
Retail-Readiness: If the cars arent done in the shop and pictured up and online in 72 hours, we feel very uncomfortable, Lynch says.
Dale Pollak, founder of vAuto, Inc, offers dealers advice on becoming a turnaround specialist, using the DePaula Chevrolet dealership of Albany, NY as a perfect example. [Read more]The Article Turnaround Specialist: 5 Secrets of Dealerships Used Vehicle Success appeared first on Automotive Digest.