Pub. 19 2020-2021 Issue 1

N E W J E R S E Y C O A L I T I O N O F A U T O M O T I V E R E T A I L E R S S P E C I A L E D I T I O N , 2 0 2 0 30 new jersey auto retailer As dealers have adapted to reopen, many feel uncertain about all they need to do to operate safely. As a fol- low-up to their 36-Point Checklist If Your Dealership is Man- dated to Close, automotiveMastermind.com has compiled a com- prehensive checklist to run through to operate safely. Dealers should create their own action plan using these suggestions and be prepared to modify accordingly as circumstances change. Inventory Management Conduct a physical inventory of every vehicle • New, used, loaners, trade-ins, lease returns and cus- tomers’ cars with open repair orders Ensure all dead batteries are charged, vehicles are clean and ready to drive off the lot Pull your new, used and wholesale vehicle inventory against current Manheim Market Report (MMR) and used car values • Consider what to keep and what to get rid of, and ad- just pricing accordingly Analyze current inventory vs. incoming inventory to deter- mine how supply/demand is going to impact market pricing • Reach out to dealerships trying to get rid of inventory to increase your supply for pent up demand • Ensure all dealer tags are accounted for Sales Team Conduct sales meetings to sure up your team and help set expectations • Communicate any immediate operational changes • Be sure to answer any questions your team may have to set them at ease Ensure your team is ready to tackle any challenges (and opportunities) ahead • Ensure salespeople understand the need for a more empa- thetic approach when communicating with customers • Consider additional phone and sales training If paused, re-launch any data/equity mining technology software and marketing Review deals sold prior to the shutdown and update the website with any new incentives that became available Schedule deliveries for vehicles sold during shutdown Ensure all DMV paperwork has been sent out for cars deliv- ered prior to shutdown • What deals need registration data confirmed by the state? • Who is driving on unregistered temporary tags? Conduct a Contracts in Transit (CIT) review and determine what contracts have been paid to the dealer and which are still outstanding • Collect any outstanding stipulations for unfunded deals • Determine if there are deals where paperwork needs to be re-signed Follow up on any outstanding payoffs on trade-ins Follow up on DealerTrack, RouteOne, or captive unap- proved deals, holds and/or comments Conduct follow up calls to any sold customers who took delivery before closing Market your Successful Re-Opening Plan a “Re-opening Sales Event” and create an email blast to your customer base Communicate re-opening on all external channels • Create clear messaging about the new ways of doing business and how it impacts the customer experience • Ensure website, social media, and all third-party sites have your updated hours Consider balloons or other eye-catching decor outside to draw attention to your dealership The 35-Point Checklist You Need For Reopening Your Dealership