Dealership Mid Year Forecasting

Summary

In this conversation, the speakers discuss the critical aspects of forecasting in the automotive dealership industry, focusing on the importance of having the right people, managing inventory effectively, and setting appointments to meet sales goals. They emphasize the need for continuous training and coaching of staff, the impact of inventory levels on sales performance, and the necessity of creating appointments across all departments to ensure efficiency and success.


Takeaways

Forecasting requires adjustments throughout the year.
The right people are essential for achieving sales goals.
Training and coaching should be ongoing, not just at the start.
Inventory management is crucial for meeting forecasts.
Too much or too little inventory can hinder performance.
Appointments should be set in all departments for efficiency.
Sales and service departments must work together on forecasts.
Understanding the average sales per employee is key.
Regularly review and adjust staffing needs based on performance.
Creating a culture of accountability around appointments is vital.


Titles

Mastering Dealership Forecasting
The Big Three for Automotive Success


Sound bites

"How do we adjust our yearly forecast?"
"How many appointments do you have set?"
"Drink coffee. See you guys every day."


Chapters

00:00 Mid-Year Forecasting Strategies
08:53 The Importance of People in Forecasting
18:46 Inventory Management and Its Impact
22:55 Service and Body Shop Forecasting
28:04 Preparing Used Cars for Sale
32:47 Inventory Management in Parts Departments
38:04 The Role of Appointments in Dealership Efficiency
48:11 The Big Three for Dealership Success
50:01 New Chapter

Keywords

forecasting, dealership management, sales performance, inventory management, training, appointments, automotive industry

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