THE BETTER WAY: A FOCUS ON ROI

Historically, what have been the primary goals of most used vehicle departments?

Check all that apply.

Volume

Average front-end gross profit

Vehicle-by-vehicle ROI (return on investment)

Increasing overall inventory size

What should be a higher operational priority for used vehicle departments today?

Ensuring our pricing is competitive no matter the vehicle’s ROI (return on investment)

Standardizing profit for all vehicles

Knowing each vehicle’s ROI or profit potential on Day 1 and treating it accordingly

Buying fewer vehicles from auctions

None

Which option represents the best ROI?

$3,000 profit on a $30,000 vehicle that took 25 days to sell

$3,000 profit on a $45,000 vehicle that took 60 days to sell

$3,000 profit on a $15,000 vehicle that took 15 days to sell

$3,000 profit on a $40,000 vehicle that took 45 days to sell

None

True or false: Most dealers believe they are managing their ROI, but in reality, they are not.

True

False

None

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