THE GRIND We Know as the Car Business As we sit in Q-1 of 2024, it’s become very clear that the landscape in our industry has drastically changed and changed quickly! In 2023, we witnessed inflation, interest rates topping a 20-year high and global conflicts, which add up to economic uncertainty for the consumer. We watched as our front gross eroded, expenses increased, the used car market dropped and inventory was swiftly on the way. All this on the heels of the best, and may I say, easiest three years in the history of the automotive business. Everyone made a lot of money with little effort. During a recent conversation with a Baton Rouge dealer, he shared words that are indicative of where we stand: “Our guys got sloppy. We forgot how to sell; it was too easy, and now we are in a pinch.” We are back to the grind that we know as the car business! So, what should we do? BRINGING BACK THE FUNDAMENTALS Dealers are looking to get tight processes and consistency back in their showrooms. Early management intervention, qualifying conversations, quality walkarounds/demos, proper BY JASON RASTI THE LDS GROUP 24
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