![]() ![]() This calculation entails summing the acquisition cost, reconditioning, transportation, and packing. This article discusses seven metrics dealers should consider for benchmarking.īenchmarking for Auto Dealers: 7 Metrics to FollowĬost to Market compares the retail price of a car to its entire investment by the dealership. Accomplishing this requires management to establish benchmarking for auto dealers, which involves identifying and monitoring metrics that uncover dealership performance vis-a-vis nearby competitors. However, management must allocate time to step back, assess performance, and refine strategies to meet financial goals. Addressing customer concerns, checking inventory, reviewing floor plans, and running team meetings are just a few of the countless tasks that can consume workdays. This is where best practice actions and activities with a focus on minimum acceptable KPI creates optimal profit performances.”Īccording to Mr Bragg the Motor Industry best practice performance card is not an exhaustive list of all the actions and activities that create success, but it is a useful and effective starting point.When bogged down with the daily challenges of running a dealership, management will inevitably lose track of long-term objectives from time to time. “Long-term dealership success is more about establishing the optimal foundational platform. “We have gone behind the numbers and provided the best practice operational KPIs, actions and activities that drive best practice outcomes,” he said. ![]() ![]() Mr Bragg told GoAutoNews Premium that: “In preparing the Motor Industry best practice performance card we have moved away from the traditional benchmark approach of focusing just on outcome.
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