Brian is the EVP of Cars.com and GM of Accu-Trade. He is a recipient of the Automotive News “Top 40 Under 40”. Before his role with Cars.com and Accu-Trade, he worked his way up to General Manager of a Mercedes-Benz dealership at the age of 24. His experience as a General Manager covers 19 years and a diverse range of franchises such as Lexus, Chevrolet, Mercedes-Benz, Cadillac and Toyota stores for AutoNation and the Germain family in the Midwest and Southeast.
In our conversation, we covered his journey, the issues with the current market, and the benefits of Accu-Trade. Brian shared valuable insights from his transition from a dealership operator to an executive in the automotive industry. He also revealed the benefits of Accu-Trade, particularly as the used car market faces significant challenges.
During his time as a dealer, Brian experienced firsthand the frustrations with Tech Stack integration and the time-consuming nature of implementing new technology. Now, from a higher vantage point, he has gained a deeper understanding of the complexities involved in the process.
As he visits dealerships, Brian has observed that many dealers are struggling with aging inventory, with the average age of a used car being 54.2 days. This has led to a massive amount of unrealized losses in the industry, totaling around 1.2 billion dollars.
Brian shared that with the help of Accu-Trade's predictive analytics, dealerships can determine the market day supply and average days on the market for each car. This valuable information can help dealers predict which cars will sell quickly and which may take longer, allowing them to make smarter decisions when stocking their inventory.
Accu-Trade's ability to provide accurate valuations helps dealers avoid overpaying for cars and enables them to turn their inventory more quickly. This is especially important in a market where auction guides can sometimes lag behind actual values.
The conversation also touched on the importance of moving away from a reliance on auctions for acquiring used cars. By focusing on acquiring cars directly from consumers, dealerships can eliminate auction fees and increase their overall gross profit.
We also talked about the importance of analyzing look-to-book ratios by source, such as showroom, second on scene, and service drive appraising. By focusing on these metrics, dealers can better understand their audience and create targeted marketing strategies to increase their used car sales.
Overall, this episode highlights the importance of embracing data-centric approaches and empowering staff in order to succeed in the competitive used car sales market. By leveraging technology like Accu-Trade, dealerships can simplify complex processes, make more informed decisions, and ultimately increase their bottom line.
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