Today on CBT News, we welcomed back David Lewis to the show. Lewis is the President and CEO of David Lewis and Associates and host of the CBT original show Straight Talk. Lewis joins host Jim Fitzpatrick to discuss how car dealers can carry momentum into the second quarter of 2021 and beyond.
Lewis opens the conversation by warning car dealers to be cautious of falling into bad habits while experiencing success. He looks back to last year when car dealers were fearful after the lockdowns forced by the COVID-19 pandemic. However, PPP loans and digital retailing allowed the industry to make a strong comeback in 2020. Lewis tells car dealers to be cautious celebrating successful profits from last year because the inventory shortage won’t last forever.
Lewis says that success can create laziness. While it’s certainly important to celebrate success, car dealers must never become complacent. Complacency will stagnate sales and create bad habits among sales associates and other team members.
“This is not a matter of if this is going to change, we all know it’s going to change,” Lewis said while discussing low inventory levels and high-profit margins. “it’s a matter of ‘when’ and I could see it being sooner than later.”
To combat bad habits, Lewis says that car dealers must reimplement regular training sessions. Sales training is more than just instruction and learning how to sell. Sales associates must engage in training to improve their skill set, their ability to communicate with customers, and their ability to close deals.
Lewis concludes the conversation by using the analogy of running from a bear to describe the race car dealers will face when inventory levels return to normal. The car dealers that prepare the best by implementing strong training programs will outrun those that lack proper preparation. Car dealers that focus too heavily on today’s success will fall behind in tomorrow’s race.
