Economically speaking, Newton’s third Law of Motion – for every action, there is an equal and opposite reaction – is certainly applicable today. Applied to the automotive industry, the action is decreased vehicle sales and the reaction is increased sales in service and maintenance. The question is: Are customers bringing their vehicles to you or your competitors for service? Now is the prime time to rev up fixed operations to gain more service and maintenance ...
Thomas B. Hudson - The bailout mentality seems to be everywhere. Here’s an example. Customers borrow money from a bank to finance their car purchases. They default on their loans, and the bank undertakes court actions to recover the vehicles. The consumers discover that the loan officer they dealt with had pled guilty to defrauding the bank. The consumers decided that was reason enough to let them keep their cars ...
Dave Keller -Chrysler and GM have yet to prove how eliminating dealers is going to save them to a profit. They should let the economics of business weed out the dealers who are not profitable. Sooner or later, the non-profitable and under-capitalized dealers won’t be able to ...
Jim Jackson - If you are not modeling the way of a winner, then maybe you need to get some coaching. Once you identify your beliefs, write them down. You must have written belief statements that are positive, forward-thinking and reaffirm confidence in yourself. This alone is a powerful tool. Here’s one more piece of advice: Do not give ...
Tom Herald - When it comes to the car business, 2009 is not much different than 1980. The details, circumstances and causes for the recession were different but the end effect on the car dealer was basically the same. Credit was very limited if not non-existent. Thirty years ago Chrysler, led by Lee Iacocca, was pleading in front of Congress for some sort of financial relief. Unemployment was ...