Mark, For years we priced our cars at invoice less all factory incentives. We have recently switched to pricing at MSRP less all factory incentives and couldn't be happier with the outcome. Our volume has not decreased and new vehicle front end GP has increased several hundred dollars per copy.
Most dealerships I work with price at MSRP less all factory incentives.
@Patrick: Interesting that you guys priced at invoice! What was the reasoning behind that?
For years we were a single point operation with a lot of close by competition. Our thought was being the lowest priced online with new vehicles had been the key to our success. It turns out that was not the case, I have spent time training my team to sell the car and themselves rather than a payment.
I've been using various matrix's based on Make/Model/Days in Stock/Market
So basically I would apply a percentage off msrp depending on the various factors above.
chris
do you mind sharing that matrix with me on how you price?
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How are most of you pricing new cars on your website?