Topsfield Motor Company Gains Competitive Advantage
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Over the past 15 years, Dan Donegan, Principal at Topsfield Motor Company has established his dealership as a leading provider of pre-owned quality late-model luxury European vehicles. Dan selected VINCUE three years ago to maximize business success by enabling his team to pivot in response to the market volatility of the past few years. Dan and his team are successfully growing their business by driving a 15% increase in annual sales, while grosses were up 30% for the same period.
Getting away from the auction and getting on Private Party Acquisition
Good operators no longer solely rely on auctions for their source of pre-owned inventory. As the cars acquired through trade typically resell faster and at higher gross than vehicles sourced at the auction, private party acquisition strategies prove to gross even higher.
“Our dealership utilizes VINCUE processes and software for private-party acquisition. Today, this translates to 60% of our current inventory, giving us a competitive advantage by helping us find and compete for off-the-street cars,” says Dan Donegan, Principal, Topsfield Motor Company. “VINCUE’s innovative grasp on data dynamically funnels relevant data to a single platform – efficiently enhancing our ability to acquire the right automobiles quickly and at the best price,” Dan continued
Gaining a COMPETITIVE ADVANTAGE
To gain an advantage in his market and beyond, Topsfield Motor Company relies on VINCUE. “We selected VINCUE based on its interface providing the granular level of data necessary for our success,” says Dan.
Topsfield Motor Company unified and streamlined their appraisal-to-sale process through VINCUE ONE. “The way the data is funneled to us in one solution is efficient which equals profit. My advice to other dealers is to do your research and clearly understand the tools and data available while knowing your market. VINCUE was the clear winner for us, and the return on the investment is self-evident,” said Dan.
Obsessed with Success
Dan realized that in order to generate the gross and turn he was expecting, he needed to invest in hiring and training a full-time buyer. “It’s competitive out there,” says Dan.
“We established an internal vehicle buying center using VINCUE VBC(™) and hired a full-time buyer to manage private-party acquisitions. Not every customer wants to come to the dealership, sometimes we go to them to acquire their car. We committed to this process early on and we are reaping the benefits of our approach – I am able to control my inventory and therefore better predict profitability”
Crediting Expert Performance Management
“Deploying a solution is one thing, but having a team of people focusing on my success allows me to achieve real profitability goals,” said Dan. “With true efficiency, I am able to control my inventory and therefore better predict profitability” Dan continued. “The people at VINCUE are super helpful and knowledgeable and they get back to me right away. These are some of the things I appreciate most about our relationship.”
Right on Cue
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