Auto Dealer Monthly, Q4 2020

sales and higher landed inventory risks require dealerships to manage inventory to an almost just in time precision Fast turn requires dealers to have replacement vehicles already in the recon pipeline for those they just sold the days of waiting several days for replacement cars are gone Sales teams equipped with physical asset workflow tools sell more cars because theyre able to reduce or eliminate delays in time critical sales activities They know precisely where your test drive vehicles are parked and where their keys are or who has them and doesnt have to track them down Time wasted looking for vehicles infuriates waiting customers The less patient of them will simply walk When the store policy states that sales associates will deliver tradein vehicles and their keys to service recon the physical workflow informs management in real time when cars were moved to where and by Q4 2020 auto dealer today 25 Nicole Renninger is new business manager for reconditioning time to line workflow solutions company Rapid Recon She is a former auto dealership finance director You can reach her at nicolerenniger@ rapidrecon com whom Without such a tracking and alert mechanism cars waiting for reconditioning may sit for days forgotten and unattended This slows reconditioning speed to sale time which directly affects inventory turn Access into the reconditioning workflow allowing associates to quickly gather vehicle information inspection reports repaired item lists and recon completion status for sales presentations gives sales teams a unique sales advantage DATA DRIVES TURNS Our data show that dealers who practice these speed to sale techniques close two of three used car leads Conversion drops to one of three when these sales advantages are not available Logical workflow tools that help you manage reconditioning for faster time to line performance and physical workflow technologies bring exciting new opportunities for dealerships to eliminate costly delays and snags Online retailing while promoting a faster sales experience also brings lower tolerance and patience for activities that waste time Scrutinize these processes at your dealership How often are vehicles forgotten about or even lost How often do sales associates scramble to locate the right vehicle or track down keys with customers waiting How quickly can a sales associate taking a phone up about a vehicle access vital details to build confidence and trust in the prospect Its 2020 The world has changed and so too must your sales practices Nows the time to cut the fat