2024 is right around the corner
Now is the time to make your plans for next year, especially with so much uncertainty. In many ways I find that the beginning of fall is the perfect time to start planning for next year. By the time …
Category: Columns
AI isn’t just coming — it’s here
Study finds 76 per cent of dealers already had or will be integrating AI into their dealerships within three years. For years, the finance office in dealerships across the country has remained, for the most part, a bastion of tradition, …
DSMA partners with Vicinity on electric delivery trucks
Dealer Solutions Mergers and Acquisitions (DSMA) is buoyant about its partnership with Canadian-based Vicinity Motor Corporation (VMC) to retail its medium-size electric truck to dealers in North America. DSMA President/Founder Farid Ahmad told Canadian auto dealer the arrangement began in …
O.E.M. stands for Outstanding Employee Management
A little care, attention and praise can go a long way in boosting morale and retention. Finally, you have hired what seems to be the right person and they showed up on day one. Now what? Ask yourself what does …
Keep your friends close
Customer loyalty can mean a steady supply of highly profitable sales now — and in the future. As our sector turns the corner from the pandemic and accompanying supply chain issues that have plagued the sector for many months, never …
Why leasing makes sense for dealers
Let’s take a closer look at the bottom line return from leasing vs. financing. According to industry figures, lease penetration nationwide has dropped from 35 per cent down to 20 per cent, the lowest level in the history of leasing. Leasing has also not …
The economy and EVs: a unique perspective
Economic uncertainty and supply disruptions are impacting consumer behaviours. Recently, there has been a lot of interest by journalists and news outlets on the topic of vehicle pricing in Canada and the underlying effects of the increased interest rates. Acting …
What are Bank Covenants and why are they necessary?
Dealers need to borrow cash to run their businesses, but not all loan types are the same. Dealers need access to a ton of capital, and I mean a ton! Think about it, no dealership is sitting on enough cash …
Borrowing a page from hospitality
The automotive world can learn a lot from how other industries consistently deliver amazing guest experiences. Six years into my career, I made a significant pivot—from Xerox and the world of office printers to automotive when I joined the …
The auto industry is under siege
Government policies and economic twists and turns are disrupting our industry. If you are a dealer and are looking at the title of my column for this month you might be thinking that I have got the wrong end of …
8 ways to win more trade-ins!
Showing customers how used vehicles are appraised can help avoid negative experiences. For both customers and Sales Consultants alike, the final presentation and discussion of the trade-in appraisal number is often the most awkward, nerve-wracking and contentious part of the …
Economic uncertainty and the shift into non-prime
More consumers are struggling with debt and higher interest rates. There are still ways to help them find the credit they need. In the automotive industry we know that shift happens. Our economy is skidding into uncertain times and many …
