No More Scan-and-Pray Trade-in Losses By Dennis McGinn AutoSuccess, February, 2025 Following their visits to NADA last month, we have a more thankful nation of car dealers. For many reasons, optimism is strong for a healthy 2025. S&P Global Mobility projects 16.2 million new-vehicle sales for the year, up 1.2% from last year. BEV (Battery ...
Five Opportunities to Improve Sales Efficiency and Cash Flow Now By Dennis McGinn AutoSuccess, January 2025 When I write about efficiency, I don’t mean cost-cutting or belt-tightening. I mean growing sales margins, making more confident trade appraisals, and working the used car operation to increase cash flow. You can do more with less: 1. More ...
From Trust to Transactions: How Transparency Makes Your Vehicle Shine By Dennis McGinn AutoSuccess, December 2024 The used car market is more competitive than ever, and dealerships must stand out. Buyers now compare vehicles across platforms, scrutinizing every detail. Transparency has become essential to gain an edge. With informed, selective consumers, dealerships must shift from ...
Maximizing profit per vehicle: Proven strategies for reducing T2L and enhancing recon efficiency By Dennis McGinn AutoSuccess, December 2024 First and Foremost Rapid Recon VinSight will protect your profit for New Car Sales with trades and all Used Car Sales. VinSight is a plug & play scanner that going forward, must be used on 100% ...
Cut the Clutter: Boost Efficiency with Standardization and Clear Communication in Reconditioning By Anthony Martinez AutoSuccess, November 2024 Value-Added Time vs. Non-Value-Added Time Wasted time comes in many forms. Whether it’s the extra steps a technician takes moving from point A to point B, or delays in communicating estimates to customers, non-value-added time silently erodes ...
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 ...