Cars are a dying breed, it seems. By truck, I mean SUV, CUVs, pickups, vans, all other UV variants. In August, truck sales ran over sedan (and coupe and hatchback, as well, I assume) sales. How do my dealer readers feel about that? Do you care so long as you have product to sell?
Trucks do carry higher profit margins, especially the luxury truck models, so I guess this is good news for dealers of brands with lots of trucks. I wonder how the swing in consumer tastes to trucks impact the value of dealerships of brands that don’t have as robust a truck line up? Somebody must service the ever-smaller coterie (of which I include myself) that want to drive a car!
People is the common thread running through this week’s issue. First there is my profile of the Morgan Automotive Group. The group is growing fast, and chairman Larry Morgan shared with me that the group generally keeps most of the employees when it acquires a dealership. I liked his thinking that most people can do better “with a little guidance.” Read more about Morgan Auto Group’s plans in this issue.
A lack of guidance can be very expensive if a new employee is not getting any. How to efficiently and effectively bring new employees on board is the topic of this week’s second piece. It costs a lot of money to onboard new employees poorly, as contributor Compli shows you.
And of course we have Transaction News.