Growing Dealership or Growing Industry?

It is no accident that companies involved in the same industry tend to move in synchronized motion. Companies in the same industry are forever engaged in competing for market share, but is there a difference between increasing market share and simply growing within a booming industry? I think so. In terms of sheer volume, auto experts are forecasting around 16 million cars sold annually in 2015 an increase of 3 million from 2008. It is no coincidence that as the Automotive Industry has been experiencing growth, annual sales reaching pre-recession levels, dealerships around the country are doing very well.

Due to the booming Automotive industry, businesses likely have an above average rate of earnings for an extended period of time, probably years. Sound familiar? It should, because it’s what your dealership has likely been experiencing for the past few years.

Now, to be clear, this is not meant to question everyone’s hard work and accomplishments over the past few years. There are plenty of dealers who have been moving with the times, growing with the changing demands of their customers to create a massive, DISPROPORTIONATE amount of business. These are the dealers that are not just hitting “good” numbers, their numbers are great, Why? Because they are working to grow their market share and achieving numbers better than the year before, not just riding the wave of industry.

This article is for those who have been experiencing “good” numbers. Let me put it this way, in a growing industry as fast as this one if your dealership doesn’t experience at least the same percentage of growth as the industry itself, then you’re BELOW AVERAGE. In fact, if the industry weren’t growing it would be fair to say that your numbers would be completely stagnant.

Even if your numbers are better than last year, or last month, ask yourself if you can really take credit. Have you really been handling your customers differently, more effectively? Have you adjusted your process to speed up the sale? Have your managers been more involved? These are the things that drive dealerships to not only experience disproportionate success, but maintain success when industry growth slows down.

I challenge you to think about your level of success, and remember that consistently great success doesn’t just happen. It is the result of a purposeful, driven culture that adapts quickly and never settles. Good habits are developed in hard times, but bad habits are often developed in good times, so let’s not take these good times for granted. There is always more market share to capture, so go after it with purpose!