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Now thatâs funny!
It is at this point they stop being Hennessey Jaguar and become Hennessey Museum of Contemporary Jaguars
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Haha sad, but true.
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Mostly trade-ins and auction purchases. We have had a few people try selling us their car, but it doesnât make much of a difference for inventory size and we typically have to overpay for them.
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I donât think dealers are bored, historically the new car stay on the lot for 70 days and sell at a discounted price below MSRP, today same car, sell in 2 weeks max and most likely will sell while in transit for $5k-$10K markup, Corollas where I live are being sold at $3k-$5k âshortage tax/ ADM / Market adjustmentâ plus $2k-$3k dealer added options, so on a Corolla a dealer might be making a minimum of $6k markup above MSRP, keep in mind holdbacks and difference between invoice and MSRP added, plus financing comissions, and to top that off, the car is selling in two weeks or less, so it doesnât cost them like the 70 days car, I donât think they are bored or hurting, they are flourishing, but I can be wrong!
I literally had one of my friends send me a photo of a colleague eating goldfish (out of the gallon size container) with chopsticks. I think things are slowâŚ
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You can be flourishing and bored. if cars are sold while in transit and little to no negotiation at well above list, and you have far fewer cars to sell (but more aggregate profit), it means your job is way easier, less time intensive and you make more with far more free time. At a certain point, youâre happy⌠but bored.
Until the dealership decides they donât need nearly as many salesmen, and then youâre sad and bored.
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by whom and to what benefit?
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Yep!
And if your pay plan is strictly unit based and not gross
This is boring and not fun
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You are confusing the dealer (really the dealer principle) with sales people. Sales staff usually doesnât get paid on holdback or financing and most sales floors are overstaffed. We literally have almost nothing to sell from August to November. I would need to start selling cars for $50k+ over sticker to get close to my commission earnings from earlier this year when volume was higher.
With that said, I am just preselling everything incoming and have probably a little over $1 million worth of cars incoming between October and year end for myself. Edit: Actually did the math and it is just under $2 million. Thank you Turbo S and GT3.
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How much inventory would you typically have to sell in Q4?
Personally, if I sell around 40 new and used cars per quarter I am happy. My dealer has a total of 70 unsold 2021/22 models for calendar year 2021 (3 of those are actually in stock, the rest are by year end) and 8 sales people. I will let you do the math on that, but if they are divided equally, there isnât a lot to go around.
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Where are these EVs located? There is very limited supply of almost any EV within 50 miles of me (Iâm right outside DC). My family recently had a development where I might even be in the market for a Leaf and there are only 14 of them within 50 miles and in my first initial phone calls dealers didnât seem at all inclined to move them below MSRP.
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if i cant get a leaf below msrp, neither can you lol
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Plus the industry is notorious for changing comp structures to benefit themselves at the expense of employees.
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Ours changed for the first time in 12 years and we all basically had to take a 5% pay cut.
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Could be worse but it still sucks.