Transcript Brent Wolsey - 18th Digital Dealer Conference & Exposition

Stop Overlooking Your Fixed Ops
to Help Drive CPO Revenue
Brent Wolsey
Brent Wolsey |Brent Wolsey |
| CPO Product |Marketing
CPO Product
Manager
Marketing
| [email protected]
Manager | [email protected]
Welcome
• Brief Introductions
– Brent Wolsey | AutoPoint
• AutoPoint, a Solera company
– Formerly MPi
– We are the leaders Fixed Ops business process solutions
– The AutoPoint Platform™ improves CSI and CSR, with:
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•
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Process development and implementation
Vehicle inspection technology
Management reporting
Training and Consulting
– Increases capacity through efficiencies while increasing
profits
Brent Wolsey |
| CPO Product Marketing Manager | [email protected]
Used Car… THEN
Brent Wolsey |
| CPO Product Marketing Manager | [email protected]
Used Retail… TODAY
Brent Wolsey |
| CPO Product Marketing Manager | [email protected]
Swinging Pendulum
• Used vehicle popularity on
upswing
• Automotive News and Auto
Remarketing report certified
pre-owned has increased 11%
in Q1 2014.
– GM, Ford, Chrysler,
Mercury, Subaru, Kia and Mazda are
experiencing upswing
– Toyota and most luxury brands are maintaining
strong CPO retail sales
Brent Wolsey |
| CPO Product Marketing Manager | [email protected]
Swinging Pendulum
• CPO Vehicles are very
profitable today
– The average unit is twice
what they were in 2012
– August 2014 premium were
$2,842
– They’ve been above $2,800
for the past 14 months!
Brent Wolsey |
| CPO Product Marketing Manager | [email protected]
Tout to the Value of your
Used Vehicle Recon Process
• Promote your Used
Car Reconditioning
process
– OEM Trained ASE
Certified Technicians
– Incorporate signage in
service area
– Introduce Master
Techs on wall or in
person
– Include it in your
advertising
Brent Wolsey |
| CPO Product Marketing Manager | [email protected]
Tout the Value of CPO Vehicles
• Emphasize the work
which has been
performed
– Value in use of OEM
parts in all certified
pre-owned
– Value in work which
will not need to be
done after the
purchase
Brent Wolsey |
| CPO Product Marketing Manager | [email protected]
Defining Product Offering
• At least 3 (if not 4) levels of used vehicles
– CPO = Your Franchise, low miles and newer
model year
– Platinum = Non Franchise vehicles in your
class
– Gold = Older/Higher mileages vehicles which
are still quality and you can stand behind
– Silver = “As is” vehicles
The levels MUST be clearly defined
Brent Wolsey |
| CPO Product Marketing Manager | [email protected]
How can Fixed Ops Dept.
Drive Revenue for Used Car Dept?
1. Decrease
Reconditioning time
– Dedicated Recon staff
– Use Recon software
systems
Brent Wolsey |
| CPO Product Marketing Manager | [email protected]
Dedicated Reconditioning Staff
• Service Technician who
doesn't skimp or gouge
– Provides consistent and
quality results
– Minimizes Come Backs,
costing you profit via
your Policy $’s
Reduce Recondition Cycle Time
Brent Wolsey |
| CPO Product Marketing Manager | [email protected]
Dedicated Reconditioning Staff
• Service Advisor who
oversees all units
– Empowered to Approve
work within guidelines
– Becomes watchdog for
issues and eliminates
road blocks
– Becomes your
Advocate
Reduce Recondition Cycle Time
Brent Wolsey |
| CPO Product Marketing Manager | [email protected]
Decrease Reconditioning Time
• Use a Reconditioning
management software
solutions
– Provides visibility into
the process
– Facilitates efficient
communicate
– Outputs supporting
documentation
Increase Proficiency & Accountability
Brent Wolsey |
| CPO Product Marketing Manager | [email protected]
How can Fixed Ops
Drive Revenue for Used Car?
1. Decrease
Reconditioning time
2. Provide
transparency and
value for the
customer
– Be proud of the
dollars you’ve put
into the vehicle
Brent Wolsey |
| CPO Product Marketing Manager | [email protected]
Increase the Value of Used Vehicles
• Provide a professional
Reconditioning report
Set your dealership apart
from the rest!!
Brent Wolsey |
– Indicate what was
inspected
– Indicate what was &
wasn’t repaired and why
it adds value (or didn’t
raise the cost of the
vehicle)
– “Condition” your
customers – this is the
level of service they
should expect from
Dealerships
| CPO Product Marketing Manager | [email protected]
Increase the Value of Used Vehicles
• Report provides full
Transparency
– Disclose multi-point
inspection findings
• What was/wasn’t serviced
Set your dealership apart
from the rest!!
Brent Wolsey |
– Provide customer a
report when comparison
shopping
– Disclose dealerships
investment to show
Value
– Don’t hide Value,
demonstrate VALUE
| CPO Product Marketing Manager | [email protected]
How can Fixed Ops
Drive Revenue for Used Car?
1. Decrease
Reconditioning time
2. Provide
transparency and
value for the
customer
3. Be Fixed Ops best
customer
Brent Wolsey |
| CPO Product Marketing Manager | [email protected]
Be Service’s BEST Customer
• The best customers
get the best treatment
• Pay full CP rate for
your reconditioning
work
– They have Ability to
help you
– They have a Desire to
help you
Increase your Leverage
Brent Wolsey |
| CPO Product Marketing Manager | [email protected]
Increase CPO Sales
• Value of Increased Turns
Assuming:
50 Units per turn
$1,800 $ profit per unit
23 Days Lot time*
8 Days Average Recon time
Increase by reducing Reconditioning Time to 5 Days
$113,536.87 (Annually)
$9,467.41 (Monthly)
*Source: CNW
Brent Wolsey |
| CPO Product Marketing Manager | [email protected]
Happy Customers Return
• Full Transparency &
Disclosure = No surprised
(or angry) customers
– Happy customers utilize your
Service Center
– Results in positive
experience and reinforce the
customers desire for future
used vehicle purchases
– Quality job = Quality
reputation amongst
Customers & Community
Brent Wolsey |
| CPO Product Marketing Manager | [email protected]
To Review
• Clearly Define your “Levels” of used
vehicles
• Be Services Best Customer
• Empower your Fixed Ops team within
these Levels
• Utilize Technology to streamline process
• Give your Customers the facts and
minimize policy spending & profit erosion
Brent Wolsey |
| CPO Product Marketing Manager | [email protected]
Final Thoughts
• Customers who are happy and satisfied with
one Used Vehicle purchase are more likely to
come to you for another.
• Your Fixed Ops Department can
work with Sales and greatly
contribute to your Bottom Line!
When setup right, Fixed Ops will
help you achieve your goals!
Brent Wolsey |
| CPO Product Marketing Manager | [email protected]
Brent Wolsey |
| CPO Product Marketing Manager | [email protected]
Thank you!
Brent Wolsey | CPO Product Marketing
[email protected]
801.836.9191 | www.autopoint.com
Brent Wolsey |
| CPO Product Marketing Manager | [email protected]