Profitability

Question 1

What are 4 ways to improve Occupancy

Answer 1

Call Red Cars
Work deletes
Work shopped cars
*83
Answer the phone
Ask other branches if they need vehicles
Call or visit accounts

Question 2

What are some ways to improve your overall rate

Answer 2

Walk the lot
Upgrade over the phone
Track insurance rate by using open ticket sales
Lot maintenance - lot plan

Question 3

What’s the benefits of running a profitable operation

Answer 3

Remain privately held
Expand to new locations
Invest in hiring/development
Invest in technology
Open more locations

Question 4

What is a risk car

Answer 4

We bought outright and we own the car; we assume full risk of selling it.; No guarantee what we will make on the resale

Question 5

What is a buyback car

Answer 5

Purchased car with pre-negotiated repurchase agreement. We know in advance how much we will make on the resale;

Question 6

Ways to create a successful sales culture

Answer 6

Goal Boards
SOS training on the sales process
Set clear goals and expectations with team
Provide additional role playing
Morning huddle

Question 7

Impact on Net Profit if you don’t get a sold car to re-marketing

Answer 7

Resale value changes
The longer it takes the more you pay depreciation
If you take too long, you can lose the sale entirely

Question 8

What makes up Core 4

Answer 8

CDW, PEC, RAP, SLP

Question 9

What are the other 2 ancillary products that make up TAR

Answer 9

Upgrades, FSO, XM Radio, Other

Question 10

GP Insurance Rate Goal

Answer 10

$37

Question 11

GP Retail Upgrade Goal

Answer 11

$1.5