Notifications & Messages

Jared Hamilton
From: Jared Hamilton
Hey - It’s time to join the thousands of other dealer professionals on DrivingSales. Create an account so you can get full access to the articles, discussions and people that are shaping the future of the automotive industry.
×
Dennis Galbraith

Dennis Galbraith Chief Marketing Officer

Exclusive Blog Posts

Morgan Auto Group Rises To Number 28 In Automotive News' Top 100 Dealer Group Used Sales Ranking

Morgan Auto Group Rises To Number 28 In Automotive News' Top 100 Dealer Group Used Sales Ranking

Morgan Auto Group moved up 25 spots in this year's "Top 100 Dealership Group Used-Vehicle Sales" supplement published by Automotive News. The…

Top 5 Luxury Cars for Any Type of Terrain

Top 5 Luxury Cars for Any Type of Terrain

Many automotive companies make luxury vehicles that can be driven on different terrain. If you like to take road trips to cities, forests, hiking trails, a…

My Dealership Story - Kristy Elliott

My Dealership Story - Kristy Elliott

Meet Kristy Elliott, the Dealer Operator at Sunshine Chevrolet and check out her dealership story. Learn how Kristy came from the non-profit world to …

Start With Why - David Mead at DrivingSales Presidents Club

Start With Why - David Mead at DrivingSales Presidents Club

DrivingSales was so excited to have David Mead as a keynote speaker during Presidents Club. David works at the Start With Why foundation with Simon Sinek, …

You Have a Position to Fill – Who Do You Hire?

You Have a Position to Fill – Who Do You Hire?

As much as you try to avoid employee churn, you’ll always need to hire someone. It might be to replace a staff who’s moved on in their care…

Friday Freebie: PIN's PowerDealer

   The Power Information Network is a division of J.D. Power and Associates. Its automated system collects data from roughly 1/3 of all franchised dealers and provides a free reporting tool, PowerDealer, showing both the individual dealer's data and aggregated results from other dealers. PowerDealer is a nice complement to the free Dataium information I wrote about last week. While Dataium is live shopping information, PowerDealer is sales information in near real time. Between the two, you have insight into what is actually being sought and bought.

   Unlike sales reports based on registration data, this information is no more than 24 hours old from the point of sale. This makes the guidebook particularly useful during times of turbulent pricing and fluctuating demand.

   A feature I find helpful for knowing what vehicles to be on the lookout for is the ROI indicator; it combines gross profit and days to turn. If the average retailer cost of a vehicle is $12,000 and its average sales price is $14,000 with an average 30 days to turn, then the dealer could expect to make $2,000 in one month. If this were repeated each month, it would result in a 200% ROI on the $12,000 investment ($2,000 X 12 months = $24,000). Sorting vehicles by ROI is a quick way to identify attractive inventory.

   Another fantastic feature is PowerDealer's ability to plot sales information on a Google map with a variable radius from the store. Franchise sales reports can be seen at four regional levels. It also includes a booking tool backed by current sales data.

   This free tool is not going to replace your vAutos or any other robust market-data tool. It can help your sales managers know whether their expected gross margins line up with benchmarks based on what is actually selling in the same time period.

   I'm told that some dealers still hold back from participating in order to retain anonymity. The 1/3 penetration rate assures that enough dealers are included in the aggregate benchmarks to dismiss that concern in nearly all cases. A fixed-operations module can be added for a fee, but the core product is free to dealers.

   The PowerDealer demo site can be accessed at: https://pinpowerdealer.com

Login: pindemo

Password: pindemo

 Unlock all of the community & features  Join Now