It is always nice to hear from old friends and you never get enough good news. Today, I had really nice call from my previous GM. Actually, I had worked for him at one Nissan store and had followed him to the second.
I have always believed in market-based pricing on new and used cars. Giving up much of the front gross makes you have to concentrate on under-allowing on the trade, trying to maximize the back and/or switch them to a lease, to hold gross.
The internet department did so well in leasing, at least twice a month, I did lease training for the rest of the store. I made them memorize my pitch. We started leasing a high percentage of our cars.
After several years, those leased vehicles are coming back. Customers are dropping them off and getting into new leases and leaving a bunch of positive equity for the dealership. These cars are selling as fast as they come in. Who can get enough three year old cars?
My old boss wanted me to know that they are having a pretty good used car month. What had him excited, and the reason for his call, was the average gross. There are enough of them coming in, that it is raising the average gross dramatically. Seriously, I haven't heard those kind of figures in a decade.
It is really nice to hear that a plan that took this long, has finally started to bear fruit.
I have always believed in market-based pricing on new and used cars. Giving up much of the front gross makes you have to concentrate on under-allowing on the trade, trying to maximize the back and/or switch them to a lease, to hold gross.
The internet department did so well in leasing, at least twice a month, I did lease training for the rest of the store. I made them memorize my pitch. We started leasing a high percentage of our cars.
After several years, those leased vehicles are coming back. Customers are dropping them off and getting into new leases and leaving a bunch of positive equity for the dealership. These cars are selling as fast as they come in. Who can get enough three year old cars?
My old boss wanted me to know that they are having a pretty good used car month. What had him excited, and the reason for his call, was the average gross. There are enough of them coming in, that it is raising the average gross dramatically. Seriously, I haven't heard those kind of figures in a decade.
It is really nice to hear that a plan that took this long, has finally started to bear fruit.
