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The best dealer resources from our experts to help dealers solve their toughest inventory challenges.

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An Encouraging Start for Cox Automotive’s Upside/Upside Direct Wholesale Experience

This past Monday marked the end of the first Upside Direct auction in Atlanta. The digital sale, which started Friday and ended Monday, was notable on several fronts: Keen buyer interest. “We saw 270 bids in the first five minutes,” says Derek Hansen, vice president of wholesale for Cox Automotive. “Historically we haven’t seen dealer […]

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How to use Kelley Blue Book “Excellent” Trade-in Values to More Easily Acquire Customer Inventory (and Not at Excellent Prices)

I have seen a lot of commentary lately about trade appraisals – it must be the cornerstone of most dealerships’ acquisition strategies in this low inventory market. There’s been a huge shift in the auto industry in how we think about trade-ins, appraisals and customer interactions. (If you’re interested in how you can leverage those […]

New Acquisition Strategy to Match a New Market | Used Car Week 2021

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ProfitTime GPS in Practice: Elevating Appraiser Accuracy, Consistency and Performance

It’s been an eye-opening experience as I’ve taken part in early training sessions for dealers who are adopting the new ProfitTime GPS (Global Profitability Solution). The training sessions typically address two main elements—how dealers can use ProfitTime’s 1-12 scoring system to establish the strategic start/end points for every appraisal (your “target” and “threshold”), and how […]

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NADA Follow-Up: Two Things That Occurred While We Were Away

One of the nice things about an in-person NADA convention is its all-consuming nature. The convention is the center of the universe for a few days. When you’re there, in the moment almost every moment, it’s not as easy to keep up with what’s going on everywhere else. But while we were away, two fairly […]

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NADA Dispatch 2: Trust, Transparency, Inventory Efficiency and EVs

Beyond the record-setting profitability dealers achieved in the past two years, there’s another blessing that hasn’t received anywhere near the same level of attention. The blessing came in the form of record-setting customer satisfaction. Earlier this year, Cox Automotive’s Car Buyer Journey study showed that after reaching a high of 72 percent in 2020, buyer […]

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NADA Dispatch 1: A Buoyant, Busy Day on the Exhibit Hall Floor

It’s good to be back at an in-person NADA convention. No. Check that. It’s great to be back, and it’s a sentiment I heard over and over throughout the opening day of the exhibit hall at the convention. I could sense anticipation and positive energy as I arrived before the exhibit hall opened. Dealers were […]

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Kelley Blue Book Instant Cash Offer Launches All-New Features to Help Dealers Combat Inventory Shortage Challenges, Gain Competitive Advanta

The post Kelley Blue Book Instant Cash Offer Launches All-New Features to Help Dealers Combat Inventory Shortage Challenges, Gain Competitive Advantage, Grow Profits appeared first on vAuto.

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Understanding the Need for a ‘North Star’ to Guide Inventory Acquisition

We are in a unique moment in the history of the car business when it comes to how dealers acquire inventory for their used vehicle departments. It’s a moment where dealers have learned a lot about how to source vehicles in a supply-constrained market. It’s also a moment where what dealers don’t know will come […]

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Unprecedented No-Sales at Chrysler Auction. What This Means for Values

It was just reported to me that at a Chrysler factory sale in Cincinnati, Ohio yesterday, the conversion rate fell into an unprecedented mid-30%. Conversion means the percent of vehicles offered for sale that actually sold. In previous weeks, the conversion rate at similar Chrysler sales had been running in the high 80% range. This […]