Creating Predictable Profit in a Volatile Automotive Market By Dennis McGinn, Founder & CEO of Rapid Recon AutoSuccess, October 2024 In 2024, dealerships face a challenging landscape, with revenue and new car sales on the decline. As profit margins tighten, managing profitability has become more crucial than ever. However, amid these challenges, used vehicle sales ...
The First and Most Crucial Step to Profitable Used Cars By Dennis McGinn, Founder and CEO of Rapid Recon AutoSuccess, September 2024 In today’s evolving automotive industry, efficient reconditioning is more essential than ever for maximizing profitability. Rising interest rates and shifting inventory dynamics make it critical for dealerships to streamline their Recon processes. While ...
Optimizing the PDI Process: Key to Fast New Car Sales in a Surplus Market By Dennis McGinn, Founder & CEO of Rapid Recon AutoSuccess, August 2024 During the coronavirus pandemic, inventory was historically low, and customers frequently paid above MSRP and financed cars at higher interest rates and for longer periods of time. These circumstances ...
The Importance of Tracking – Blueprint for Efficiency in Vehicle Reconditioning By Dennis McGinn, Founder & CEO of Rapid Recon AutoSuccess, July 2024 In today’s fast-paced and competitive automotive industry, tracking your performance is essential for achieving efficiency and success. Just as a smartwatch helps you monitor your daily activity, set goals, track progress, and ...
The Good Fight Against the Rising Tide By Dennis McGinn, Founder and CEO of Rapid Recon AutoSuccess, May 2024 If you want to manage inventory holding costs and bolster your earnings per share, consider how your used car reconditioning operates. When recon is run well, it is dialed in and efficient. Cars get saleready within ...
You’re Losing $700 on Every Trade: Why the Data Screams, ‘Mandate 100% Scans!’ By Dennis McGinn, Founder & CEO of Rapid Recon AutoSuccess, April 2024 Sixty percent of the trades you’ll make this month will at once put you $725 further under the margin compression siege that is out to plunder your profitability. As sad ...
DEALERSHIP GMS NEED FEWER WORRIES; START HERE: RECON AND APPRAISAL INTEGRITY By Dennis McGinn, AutoSuccess Margin compression is in the news again. Heard at NADA: GMs are concerned about margin compression and their ability to earn a living. We have been speaking about the persistence of margin compression throughout the pandemic years — and urged ...
Reducing Worries for Dealership GMs By Dennis McGinn, AutoSuccess As the founder and CEO of a major technology company, my daily focus shifts between multiple demands on my time and attention, peppered by frequent surprise interruptions. As mentally ambidextrous as I want to think I am, I marvel at the responsibilities dealership general managers carry ...
Rapid Recon + Velocity Automotive = Recon Revolution The two companies arrive at NADA 2024 nearly a year after their acquisition. Here’s what they’ve been up to since. By Jim Leman, AutoSuccess Two highly competitive vehicle reconditioning companies have stopped eating each other’s lunch and come together to put more sales and profit on your ...
Used Car Sourcing and Predictable Appraisal Accuracy By Anthony Greenhalgh, AutoSuccess “All used car managers share a big fear – making a mistake.” Dealerships in 2024 will continue to face used car sourcing challenges. A recent Automotive News article by reporter CJ Moore netted the issue: “Dealers navigating a used-vehicle market that already allows little ...
Closing the Appraisal Gap By Dennis McGinn, AutoSuccess Dealers today enjoy more predictable used car results because they leverage strategic reconditioning software’s robust efficiency metrics called time-to-line or T2L, which we introduced to the market in 2010. The latest advancement in the reconditioning revolution we have written about for 14 years is predictable profit per ...
By Autosuccess Magazine Partnering with a software provider is a marriage of sorts: It’s not the romance that nurtures a long-term relationship but the consistently proving a “you over me” submission, good listening skills, the rare gift of knowing when to ask the right questions — and trust that each has the other’s back. For ...