Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car...
Transcript of Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car...
![Page 2: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/2.jpg)
Monthly Payment
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
Growing affordabil ity concerns
$365 $400 $411
$446 $464
$536
$0
$100
$200
$300
$400
$500
$600
Q3 2013 Q3 2018
Used Lease NewS o u r c e : E d m u n d s
![Page 3: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/3.jpg)
Rising Interest Rates
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
![Page 4: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/4.jpg)
Rising Competit ion from Used Cars
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
![Page 5: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/5.jpg)
Retail Contraction in the New Car Market
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
800,000 Fewer New Cars will be Sold
![Page 6: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/6.jpg)
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
Q1: How would you describe
the current market for vehicles
in the areas where you
operate?
Franch ise
Dea le rs
59
Q3‘18
54
Q4‘1751Q4‘18
![Page 7: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/7.jpg)
How can Dealers overcome these headwinds in 2019?
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
![Page 8: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/8.jpg)
Three Keys to New Car Success
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
Managing Inventory Like an
InvestorAccelerating the
Wheel of FortuneDigital Marketing
Expertise
![Page 9: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/9.jpg)
Your Content Goes Here
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
MANAGE YOUR INVENTORY LIKE AN INVESTOR NOT A SPECULATOR.
![Page 10: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/10.jpg)
Berkshire Hathaway Winners and Losers
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
Berkshire Holdings 52 Week Performance
Wells Fargo -7.9%
Apple 38%
Bank of America -4.4%
Coca-Cola -1%
American Express 5.8%
Phillips 66 9.1%
Southwest Airlines -10%
Goldman Sachs -12%
General Motors -28%
![Page 11: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/11.jpg)
Which ones are your winners & losers?
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
Vehicle Color Overall Like Mine Variance Competitive Set Size2018 Ford F-150 Lariat White 130 107 23 272018 Ford F-150 XLT Oxford White 130 124 6 1102018 Ford Explorer Sport Magnetic 72 48 24 102018 Ford F-150 Lariat Oxford White 130 160 -30 312018 Lincoln Navigator Reserve White Platinum 35 51 -16 72018 Ford Edge SEL Oxford White 161 174 -13 592018 Ford Escape SEL Ruby Red 75 315 -240 762018 Ford Explorer XLT Blue Metallic 72 62 10 502018 Ford Edge SEL White Platinum 161 174 -13 592018 Ford Edge Titanium Blue Metallic 161 122 39 192018 Ford Edge SEL Ruby Red 161 195 -34 242018 Ford Edge Titanium Blue Metallic 161 122 39 19
?
![Page 12: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/12.jpg)
Some inventory assets have bigger potential than others
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
Vehicle Color Overall Like Mine Variance Competitive Set Size2018 Ford F-150 Lariat White 130 107 23 272018 Ford F-150 XLT Oxford White 130 124 6 1102018 Ford Explorer Sport Magnetic 72 48 24 102018 Ford F-150 Lariat Oxford White 130 160 -30 312018 Lincoln Navigator Reserve White Platinum 35 51 -16 72018 Ford Edge SEL Oxford White 161 174 -13 592018 Ford Escape SEL Ruby Red 75 315 -240 762018 Ford Explorer XLT Blue Metallic 72 62 10 502018 Ford Edge SEL White Platinum 161 174 -13 592018 Ford Edge Titanium Blue Metallic 161 122 39 192018 Ford Edge SEL Ruby Red 161 195 -34 242018 Ford Edge Titanium Blue Metallic 161 122 39 19
![Page 13: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/13.jpg)
Focus on Frozen Capital
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
105%
14%
![Page 14: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/14.jpg)
Frozen capital is cool ing profits!
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
$170,000 Swing
Requires: $8.5M in Additional Sales at 2% ROS
OR
300 Additional Sales
![Page 15: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/15.jpg)
Team Toyota Investment Focus
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
227
4024
9 415
20
50
100
150
200
250
0-30 31-49 50-75 76-90 91-120 121-180 181+
Age
5% Aged
![Page 16: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/16.jpg)
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
SPIN THE
FASTER!
![Page 17: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/17.jpg)
New car sales are the ignit ion switch
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
Obtain Trade
F&I
OEM Bonus Money
Grow Units in Operation
New Car Sale
1.
3.
4.
5.
2.
![Page 18: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/18.jpg)
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
![Page 19: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/19.jpg)
Customer Perception is Reality
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
![Page 20: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/20.jpg)
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
Importance of Trades
Trade In Vehicles
Auction Vehicles
![Page 21: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/21.jpg)
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
Vehicle Age CostKBB.com Trade
In Excellent
Price Variance vs. KBB Excellent
2017 Toyota Highlander LE 11 $25,333 $21,473 $3,8602016 Mercedes-Benz GLC 300 4MATIC® 11 $23,788 $19,277 $4,5112016 Toyota Corolla S Plus 11 $14,039 $11,484 $2,5551999 Plymouth Grand Voyager SE 11 $2,050 $530 $1,5202015 Toyota Corolla L 12 $11,169 $5,867 $5,3022015 Lexus CT 200h 13 $18,233 $15,040 $3,1932014 Toyota 4Runner SR5 14 $25,706 $22,265 $3,4412012 BMW 5 Series 535i 14 $16,496 $14,120 $2,3762007 Chevrolet TrailBlazer LS 14 $7,598 $3,166 $4,4322005 Toyota Highlander V6 14 $7,363 $3,020 $4,3432016 Ford F-150 XLT 15 $25,867 $21,298 $4,5692013 Toyota Avalon XLE Premium 15 $15,192 $11,573 $3,619
I wish I gave every customer
kbb excellent
I wish I gave every customer KBB Excellent
![Page 22: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/22.jpg)
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
Negotiate theRecon Cost, Not the Condition
![Page 23: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/23.jpg)
Carvana’s Transparent Trade Appraisal Process
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
![Page 24: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/24.jpg)
Rethinking Our Comp Plans and Structure
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
![Page 25: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/25.jpg)
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
Misalignment Between Compensation & Value Creation
New Car Deptü Factory Bonusesü Generate Tradesü Create Re-Conü Create F&I Ops.ü Hold-
back/Flooring Income
ü Future Fixed Ops Income
Used Car Deptü Used Car
Grossü Re-Conü F&I Ops.
F&I Deptü F&I Gross
![Page 26: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/26.jpg)
Walser Automotive
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
![Page 27: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/27.jpg)
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
Marketing: Do Less and Obsess
![Page 28: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/28.jpg)
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
Average Dealer is making a lot of bets
![Page 29: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/29.jpg)
42% of All Digital Ad Dollars in the US are spent on Google
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
![Page 30: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/30.jpg)
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
Demand Capture
Own price based key words: 3-Series Lease Deal or X3 Lease Special
![Page 31: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/31.jpg)
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
Lowered Price Needs Promotion
Loss Leader PPC ads drive Leads and Sales
![Page 32: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/32.jpg)
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
DemandGeneration
![Page 33: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/33.jpg)
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
Facebook Building Blocks
Retarget Your Website Traffic
Use Your CRM Data
Buy 3rd Party Audience
![Page 34: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/34.jpg)
Great Examples
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
Promote Service Right Car,Right Buyer
Messenger
![Page 35: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/35.jpg)
Closing Thoughts
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
![Page 36: Brian Finkelmeyer -- DD26 Presentation · back/Flooring Income ü Future Fixed Ops Income Used Car Dept ü Used Car Gross ü Re-Con ü F&I Ops. F&I Dept ü F&I Gross. Walser Automotive](https://reader035.fdocuments.net/reader035/viewer/2022071011/5fc8fb04bac9456057776d44/html5/thumbnails/36.jpg)
Driving new car success in 2019
Download our mobile app to rate this session!(Search “Digital Dealer” in the mobile app store)
Reduce Ad Expense per vehicle with Digital Marketing Expertise
Align Structure and Comp Plans to Drive the Wheel of Fortune Faster
Improve Trade Appraisal Process
Manage Inventory like a Stock Portfolio