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As the only Olds-only dealers in central Ohio, Howard Shmitz was hit hard when General Motors announced in late 2000 it was phasing out
Oldsmobile. He ended his 36-year-old business ties to GM in April, and opened a new truck dealership last week, according to the Columbus Dispatch.
There are no national statistics showing what the 2,800 Olds dealers nationwide are doing, and
there are "a thousand paths of transition," said Paul Taylor, chief economist at the
National Automobile Dealers Association (NADA).
But only 88 of the Olds dealers nationwide were single-line dealers -- less than 4 percent --
and many of them are either closing or finding another franchise to buy, Taylor said.
Other dealers nationally have taken the truck-only route or have showrooms with an outdoors theme. The concept has potential, given that trucks outsold cars for the first time last year, according to Taylor.
The increasingly important profit center continued making gains in the first quarter, according to StoneEagle data, ancillary products proving more popular as consumers hold onto their buys longer.
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For dealer-owned reinsurance entities, avoiding volatility entirely can mean falling behind inflation and missing market rebounds that drive long term surplus growth. Missing just a handful of strong market days can materially impact cumulative returns—an important reminder for long horizon trust and investment strategies.
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In this video, Ryan Ruff explains the rule that elite sales professionals use to turn ordinary conversations into unforgettable customer experiences.
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What’s the atmosphere saying about you to your customers? You can make minor adjustments and additions that transform your space into one that creates trust with the people on the other side of the desk.
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How can auto dealerships help F&I managers fulfill their vital role in the most effective ways? Industry expert Rick McCormick shares his insights on the best ways to train these professionals and help them maintain good habits.
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More consumers and businesses are opting for all-season options for various reasons as safety, sustainability and convenience push practical change.
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It’s time to take the next digital step to free F&I managers to handle the most challenging aspects of customer meetings.
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Some of it should be given to the customer, but that doesn’t mean the F&I office relinquishes the process. In fact, a different approach both builds trust and boosts sales.
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Talk to F&I customers like you’d talk to a friend, without industry lingo or sales-like questions, and use hard proof to show, not tell, them about a need.
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