Taken for a Ride: Being Vigilant is the Only Way Dealers Can Guard Against Fraud
Taken for a Ride Being Vigilant is the Only Way Dealers Can Guard Against Fraud Plastic is rapidly replacing paper when it comes to purchases these days. From credit and debit cards to check cards, some find it almost archaic to simply carry cash. And even though check writing is on the wane, it still
Industry Report
Michelin Reopens Closed Plant in Mexico
New ‘Go’ in Goodyear?: Keegan Changing Consumer Attitude and Brand Focus at Tiremaker
Robert Keegan was elected president, chief operating officer and a director of the Goodyear Tire & Rubber Co., in October 2000. Prior to joining Goodyear, he was president of the consumer imaging business and an executive vice president at the Eastman Kodak Co. in Rochester, N.Y. In his first published interview with any tire publication
Keeping It All In The Family: A ‘Well-Run’ Family Business is Not a Contradiction
Keeping It All In The Family A ‘well-run’ family business is not necessarily a contradiction in terms. There have been many cases of successful family companies, and there will be many more to come. But having family aboard can be both a help or a hurt, depending on how things are handled. Family ties are
Altering the Landscape: Dealers Battle Consolidations, Competition For OTR Business
Altering the Landscape Dealers Battle Consolidations, Competition For OTR Business Consolidations, tighter budgets, increased competition. Sounds like any type of industry. But not every industry deals with vehicles capable of moving 100 tons of earth and mineral. Much like the landscapes it works in, the OTR business has changed over the years. The number of
Make or Break: Smart Pricing Strategy Can Keep You Humming Long-Term
Make or Break Smart Pricing Strategy Can Keep You Humming Long-Term How important is pricing to retailing success and how tricky is it? Answers: Very and very. The evidence rests with the story of two retailing giants – Wal-Mart and Sears. Wal-Mart built its success on "everyday low prices" rather than sales, and now is
Case 1: Change The Air in There
Case 1: Change The Air in There When dealers consider tire inflation as a potential source of added profits, most immediately think they should start charging for air. This ploy became popular among self-serve gas stations and a few dealers, and instantly angered consumers who couldn’t understand why the substance they freely breath should cost
Case 5: Right Money For Right Repairs
Case 5: Right Money For Right Repairs Can you make money selling complete tire repair service to your retail customers? Most of you would likely answer "No," grumbling about having to fix tires because that’s what the customer expects. According to Jerry Davis of Group 31 Inc., and Bill Johnson and Buck Blair at Tech
Mark-Up vs. Margin: Knowing the Difference Makes a Difference in Profits
Mark-Up vs. Margin Knowing the Difference Makes a Difference in Profits Independent dealers often buy service parts from auto dealerships because, for some applications, they feel the quality may be superior to aftermarket parts, or because certain parts are available only through OE sources. Unfortunately, auto dealers typically discount hard replacement parts about 20% to
Profitability: 5 + 5 = 50
Don’t think that 5% you just gave away to the customer makes a difference? Think again. If your dealership works on a narrow profit margin, raising prices just 5% will have a tremendous impact on your bottom line. Say your annual gross revenues are $1 million. With a 15% margin, profits are $150,000. Not bad.