At Tom Gill Chevrolet, selling used vehicles quickly and bringing those customers back for service are newfound keys to success.
A little more than four years ago, the Florence, Ky., dealership had about a 5-to-4 new-to-used vehicle sales ratio. The store has since implemented an aggressive used-vehicle strategy and now has nearly a 2-to-1 used-to-new ratio. Last year, it sold about 1,840 used vehicles and 980 new ones. More importantly, the store's profits have grown by double-digit percentages in each of the last four years — the most profitable in its history.
At the heart of the used-vehicle push is what the store's general sales manager, Phillip Gill, calls a "clear velocity strategy."
"It starts with a great purchase," Gill said. "But then how quickly can you get the car to your lot, how quickly can you get it detailed, and how quickly can you get it online and ready to sell?"