Take a quick look around your dealership. Look long and hard at both your lot and your showroom. Do this and you will quickly see where much of your investment lies…in your pre-owned inventory. If you are willing to invest a significant amount of time and money into your pre-owned vehicles, then the best thing you could do for your dealership is research what kind of cars you are stocking, what the market says about these cars and where you are getting them.
First, what kind of inventory are you stocking? Having looked at the data using tools like AAX and vAuto, I have come to a conclusion. Dealerships will very quickly find themselves in a bind when their pre-owned departments are stocked too heavily with late model vehicles. It’s important to have a healthy balance. I have seen far too many stores with late model vehicles making up 50% or more of their inventories this increases turn rate and the amount you are spending in marketing.
So what does the market say? The table below shows us a breakdown of VDPs (VDPs showing in 10,000 units) in relation to each calendar year. [keep reading]
Disruption is hard. When I joined Mojo Motors a year and half ago, I thought we were going to tear the used car industry a new one. Boy was I sort-of right.
Shopping for a used car is a pain. It’s hard to find the right car, track prices, and get a good deal without spending a ton of time and fielding a lot of calls. We built a solution at Mojo Motors that really helps people buy a used car. We had to take care of our dealer partners too, and we thought we had. You see we charged them whenever a Mojo member purchased a car. Sounds fair right? [keep reading]
Let’s start with a full disclosure. This post was written by an intern with a simple argument – start-ups should make good use of intern services and not just use them for grabbing coffee or researching/processing/pushing/crunching data. Since I’ve pretty much spent all summer interning at Mojo Motors, here is my take on what interns can offer a company, why it is important to pick them well, if companies should pay interns, and how you can benefit most from an internship program.
Make the jump for answers to all of your intern related questions and an intern’s experience at a start up.
We love getting feedback. Each time someone lets us know why they love or hate our website, it’s like a miniature usability test. We find out about tech issues, learn how members use the website or why someone doesn’t want to sign up for a free account. It also gives us the chance to connect with a Mojo Motors fanatic or detractor. When detractors let us know they aren’t digging us, we have a unique opportunity to turn them into fanatics. Sometimes this is impossible, but in many cases, simply responding to a detractor is all that it takes. Mostly because detractors aren’t accustomed to actually hearing back from a company. It’s how we are trying to make this whole process of shopping for a car online more personal and hopefully help us become known as the best way to find a used car or truck online. Make the jump below for more.
Last weekend, GM’s marketing head honcho, Joel Ewanick, resigned. Business Insider covered it, the Detroit News covered it and a whole bunch of other websites covered the story too. People had a love-hate relationship with the man. He’s the automotive world’s frenemy. Think of Ewanick like coffee. It’s bad for your teeth and probably your health, but it’s just the kick in the pants most people need to get their day started.
Ewanick fired advertising agencies, started a war with Facebook and said Super Bowl commercials were a waste of money. Ewanick also changed company culture, developed an advertising strategy to save GM billions, helped turn around a failing brand, took risks with their media spends and demanded creative ideas. So what does Ewanick’s exit mean for Mojo Motors, car shoppers and dealerships? Let’s take a look. keep reading…