Gentlemen, your feedback is invaluable, and it’s truly appreciated. Honesty and open dialogue are crucial, and it’s a key aspect of what makes platforms like DealerRefresh so beneficial. While the intricacies of vAuto and CoxAutomotive are beyond the scope of this discussion, it’s important to emphasize that our commitment extends to independent and smaller dealerships. Our focus isn’t solely on large corporations; in fact, a significant portion of our new clients are stand-alone stores and independent dealers. Instead of simply defending our pricing structure, let me share a compelling story.
Back in September 2014, during my time in sales, I had the opportunity to meet with an independent dealer in Frederick, MD. This was a family-run business with three service bays. At the time, they were selling around 20-25 vehicles monthly from their inventory of 60-70 units, which was less than the average for dealerships I typically encountered nationwide, where selling about half of their inventory was more common. I presented our Car Dealer Appraisal Tool and its pricing. Understandably, the initial investment seemed substantial, and we didn’t proceed with a partnership that day.
However, in December 2014, they agreed to meet again. This time, we discussed the three fundamental pillars for any successful dealership: avoiding overpaying for vehicles, acquiring the right vehicles, and implementing effective pricing strategies. Within the vAuto framework, we emphasize “Cost to Market,” “Market Days Supply,” and “Price to Market.” We engaged in an open and honest conversation about their specific business challenges and goals. Ultimately, they decided to invest in our car dealer appraisal tool at the same pricing level as dealerships with significantly larger inventories. They onboarded in January 2015.
Following comprehensive training and coaching with our expert team and their dedicated Performance Manager throughout January (our PMs are required to have 7-10 years of retail management experience), they began to see remarkable results. In February, their retail sales surged to 69 units out of approximately 80 in inventory. By March 31st, they achieved an astounding 100 units sold. And they have consistently maintained sales of over 100 units every month since. To put it in perspective, they sold approximately 1200 vehicles in 2015. This dramatic turnaround was fueled by a data-driven approach, leveraging Cost To Market, Price To Market, and Market Days Supply insights provided by the car dealer appraisal tool.
What resonates most with me about this success story is the opportunity to have been a catalyst for such a significant transformation. While their Performance Manager maintains regular contact, I had the privilege of visiting the owner, who expressed his gratitude with heartfelt emotion.
This kind of success requires a commitment to fundamentally changing business practices. I am privileged to interact with dealerships across the country and witness these transformative journeys firsthand. For smaller dealerships, the potential for growth is immense. A car dealer appraisal tool is not merely an expense; it’s a strategic partnership, providing the essential tools to refine the mechanics of your operations.
Your feedback is invaluable, and I want to assure you that it is carefully considered and shared with leadership. Thank you once again for your candid input.
-Will
