Look into the future
Top Three Highest ownership turnover (brands) from 2020-2023
GM - 14.10%
Ford-13.30%
Chrysler- 11.10%
Name four ways you can research your prospects
Website, google, OMVIC, better business profiles, linkedin, visit the dealer
In 2020 what impacted Profitability, Retail Volume, and Interest rates
COVID
How many hot prospects should we have added in pipedrive in 2024?
20
New/Used vehicles are increasing or decreasing in prices for 2023?
Increase
True or False:
62% of Retirement dealership sales are driven by a reactionary succession plan. An unexpected internal or external event that drove the decision to sell.
False : it is 42%
Three ways to understand the humanity side of things
1. Empathy
2. Trust
3. Understanding differences
4. Gratitude
What major component has increased in 2023
Inflation
How many valuations should we have completed in 2024?
12
New- Vehicle Inventory, name one of the five top brands
Jaguar
Lincoln
Buick
Ram
Chrysler
How many CA 2023 dead deals are back in the market for 2024?
8
Riverside, Oakville/south, Lakeridge, Northumberland, bow mar/Cheyenne and Galt Chrysler
Name six methods of prospecting you can do
Phone (warm calls)
Event appearances (exhibitions, presentations, or networking)
Referrals
Social media engagement
LinkedIn outreach
Direct mail
Meetings with the dealers (Take a bag of coffee, brochures etc.)
What should we always pay attention to with a transaction and banks
interest rates
How many dealers should we visit per week in 2024?
We should visit 6 dealers a week, which is 246 visits in a year
Average Age of a new car dealership owner
70.9
In 2023, did it take longer to close a deal in Canada or in the US
Canada took 9.5 months and US took 7.1 months
Three ways to understand the business side of things
1. quality time spent with dealer and family
2. Financials
3. Operations
What component of a transaction will be under a lot pressure in 2024
Goodwill
How many hot prospects should an associate have for 2024?
20-25
Name Four ways to change the dealer's mindset on good will
Get your offer on paper
Understand Their Perspective
Set Clear Expectations
Create a Supportive Environment
Offer Small Steps
How many dealerships have we sold from 2020-2023
273
How to do you warm call effectively ?
Intro, what's in it for me? Propose a time to meet
Deliver on the value offer/ build the relationship
call. email, follow up and consistently is needed
% change for sold goodwill to asking from 2022- 2024 ?
25%
What is the team's average fee for 2024?
456,250
Fish where the fish are: what are the top 10 brands ?
Stellantis CDJR , General Motors ,Ford/ Lincoln, Nissan, Honda, Hyundai, Mazda, Volkswagen, Mitsubishi, Toyota