AADA 2019 NATIONAL DEALER CONVENTION & EXPO FEATURE: TIME VALUE OF MONEY FOR USED CARS

Time is the critical factor in the success of the used vehicle department – time to prepare for sale, time to market the vehicle, time to sell the vehicle and time to deliver the vehicle.

This session links success in used vehicles to the time value of money, and how the best dealerships understand and utilise this concept to ensure their success.

Rohan Meyer is a Senior Manager in KPMG Enterprise Motor Industry Services Team. He specialises in consulting and training, with extensive Dealer group experience. He has provided a large range of consulting and training services to both dealership and OEM clients.

In this workshop he shows how time affects volume, gross profit and net profit – and how the best use of the passing of time contributes to used sales success.

At the end of the session attendees will have a checklist of the key factors to running a successful modern used vehicle operation and a plan on how to identify actions and activities to achieve best practice.

Rohan will teach participants to:

  • apply the concepts and strategies of effective return on investment, the passage of time, and gross profit, to improve profitability in the department
  • implement fundamentals of the used car department, from acquisition through preparing for sale, marketing (and the internet) and the sale of the vehicle, and
  • identify financial drivers of a successful used vehicle department and improve vehicle management from acquisition to delivery processes.

Rohan will explain the time value of money and how this concept is critical to used vehicle success. He will highlight performance of best practice dealerships in relation to used vehicles and present questions for participants to consider in their operations.

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