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How to Protect Your Dealership from Margin Compression
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In this episode, I’m joined by two industry heavyweights, Dennis McGinn, Founder of Rapid Recon, and Josh DeYoung of Velocity Automotive - Driven by Vehlo. Together, we dive deep into one of the most pressing challenges facing dealerships today: margin compression.
As dealerships across the country grapple with shrinking margins, this conversation couldn't be more timely. Dennis and Josh bring their wealth of experience to the table, offering practical solutions and innovative tools that can help dealerships not only survive but thrive in this tough environment.
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What we discuss in this episode:
The automotive industry is facing unprecedented challenges, with margin compression leading the charge. But this isn’t just a time for survival—it's a time for innovation and adaptation. As Dennis McGinn aptly puts it, "We've made a lot of progress with our metrics and our measure and manage part on time to line and average days recon." If your dealership isn’t already leveraging these tools, you're leaving money on the table.
But here’s the thing: every challenge brings with it a silver lining. And Dennis and Josh? They’re here to help us find it. We’re diving deep into the tools, strategies, and processes that can not only help us survive but thrive in this tightening market.
Key Takeaways:
- Understanding Margin Compression: Discover why margin compression is re-emerging as a critical issue and how it’s impacting dealership profitability.
- The Power of Transparency: Learn how enhancing transparency in both the online and in-showroom experiences can help dealerships build trust and maintain gross margins.
- Essential Tools for Dealers: Get insights into the latest tools and processes from Rapid Recon and Velocity Automotive that can streamline operations and protect against profit erosion.
Listen to the episode featuring Dennis McGinn and Josh DeYoung for even more insights!
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Thanks, Dennis McGinn and Josh DeYoung
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