A lot of dealers have learned some valuable lessons through these tough times and will take a much different approach to how they spend money and run their businesses.
One of the things I’ve noticed about the automobile business over the years is that dealers make the most money when they are coming out of hard times.
They get back to the fundamentals they know to be so very effective. As business starts to get better the bottom line rocks. But, the better and better business gets, the sloppier and sloppier dealers tend to get.
Right now a lot of dealers are seeing an improvement in sales and profits. Most are very optimistic about the potential for additional improvement in 2011.
Being optimistic is important but that optimism has to be powered by a well disciplined plan based on the real world we live and work it.
That world will require the winners to understand they cannot keep doing business the “old fashioned” way. Here’s what winners will look like: