What does the industry look like five years from now beyond the shortages and high profits we’re experiencing now? On today’s show we’re pleased to welcome Cory Mosley, Founder of Mosley Strategy Group and award-winning business growth strategist and coach, to discuss trends, profitability, and his recommendations for dealers today.
A lot of dealerships have been using this time, not to create profitability but to reevaluate some things they have allowed to slide by, previously. The question is, what are some things dealerships are leaving behind or skipping out on? Even with something that may seem small, consumers are paying attention.
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Memories are long for people. Mosley believes there will be some punishment to be laid out in the next lease or trade cycle in the future. It’s not much about what you’re doing but how you’re going about doing it. Mosley says you should be overservicing the customer.
Mosley believes there are consumers who are ordering vehicles but don’t want to necessarily do it. He says the key is, are the logistics of the manufacturer set up to do that? Consumers aren’t signing up to wait five to six months for a vehicle, intentionally. He says with so many options, ordering vehicles, doesn’t seem like it’s going to change.
Salespeople shouldn’t look at the packages, as to how can I make more money for myself, because it only feeds into the issues people have with trying to stay at a location or remain loyal to an organization.
Mosley’s biggest concern to the industry is consolidation. He thinks it almost demotivates small dealers to want to compete or make bigger investments. He asks, is there such a thing as having too much power with the manufacturer? He’s interested to see how things will look 5 years from.
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