Online sales is a topic that seems to be showing up in the auto retail world more and more. Used car giant CarMax is piloting online sales, and new car retail behemoth AutoNation invested in online retailer Vroom.
Dealerships can easily be part of the online sales trend. Why else would AutoNation invest? Sure, consumers can buy online, but aside from the small number who want to have their new vehicle delivered to them, most are going to come to a dealership to pick up that car.
That’s a huge opportunity for the dealership to 1. Make a very good impression so the customer will return for after sales service and 2. Perhaps upsell that customer or at least add on some F&I products. So, don’t’ fear online sales. They are going to happen. Find the silver lining.
In this week’s issue I profile Ivette Dominguez – again. We last profiled her in mid-2017. She and husband Mike Drawe recently acquired another Buick GMC franchise, and we talked about how to operate when your dealerships are pretty far apart — Colorado and Illinois in this case. Having trusted partners was the number one thing Ivette mentioned.
She continues to focus on women and minority clients, and with her new acquisition in Colorado Springs is adding the military to that list. Read how she does that this week.
Also this week, we revisit a popular column from the past. Mark Topping of M.D. Johnson writes about preparing for a buy sell. Being well prepared – such as having copies of a long list of necessary documentation readily at hand – can not only smooth the transaction, but underpins a higher valuation.
Transaction News! Need I say more?