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Car Dealership Guy Podcast
#117 Winning in a saturated maket with 9 dealerships, Secret weapon for used inventory acquisition, Cadillac poised for a massive rebound? | Patrick Coleman, President of Jim Coleman Automotive Group
Sep 10, 2024
Patrick Coleman, a third-generation dealer and president of Jim Coleman Automotive Group, shares insights from his extensive career in the automotive industry. He discusses strategies for thriving in a saturated market with nine dealerships and his innovative approach to acquiring used inventory. Patrick also highlights the potential for Cadillac's resurgence in the market and the impact of dealership dynamics on customer service. With his family's legacy in the business, he offers a unique perspective on adapting to industry changes and integrating multiple franchises.
45:59
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Quick takeaways
- Patrick Coleman emphasizes the importance of strong community ties and customer care as vital differentiators in a saturated automotive market.
- The dealership's innovative vehicle acquisition strategies, such as collaborating with Lasso for an auction-based system, effectively address the scarcity of used cars.
Deep dives
Rebounding Inventory and Sales Success
The automotive market is currently witnessing a resurgence in inventory, particularly noted at the Toyota and Honda dealerships, which faced significant challenges in previous years. A notable turn rate of 86% at the Toyota store indicates a strong demand, with almost every vehicle sold upon arrival. As traffic increases and business flourishes, anticipation builds for the upcoming Labor Day weekend festivities. This recovery reflects not just a return to form, but an opportunity for growth as dealerships align with customer needs.
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