Editor’s Note: A special thanks to contributor, Billy Reynolds, Eastern Regional Vice President of Sales for ELEAD1ONE. As an expert in Leasing and Equity Mining strategies, Billy has helped sales teams increase profits utilizing automotive retail technology at the dealer level and as a vendor partner for almost two decades.
As profit margins continue to shrink on new vehicles, what’s your strategy to make up some of that lost profit? I’ve talked with dealers who are pushing more extras like extended warranties, buying more leads or hiring more staff. But we all know that in this type of market, trying to stay competitive can be a race to the bottom and additional expenses don’t always equal results.
I believe a better strategy is to focus on increasing your volume and decreasing your trade cycle through better maintenance of your lease portfolio. Inside every CRM there should be a recession-proof book of business that requires few budget dollars to reach. Read More