Rapid recon

To vehicles in recon requiring immediate interaction and resolution to ensure their speed to sale, and Alerts vehicles’ mechanical, detail and parts departments arriving from trade or acquisition, allowing for better workflow planning, parts coordination and technician scheduling results. Shaving time is always in vogue, but it is an essential fire-fighter when margin compression lurks as it does today. Saving .02 time across several steps within a high-volume reconditioning operation adds real money, a real fight against the rising margin compression tide. That’s the margin you save. Think about that. We all like to imagine ourselves as on top of the details that matter to the business, but there is much control, and margin, to be earned when you turn to and trust the performance reports within your reconditioning software tools. About Rapid Recon Reconditioning workflow automation from Rapid Recon is the industry standard in time-to-line inventory turn and speed-to-sale vehicle revenue enhancement for automotive retailers. Benchmarking data based on 13 million vehicles processed uniquely positions Rapid Recon to advise dealers on how to improve their store’s profitability. Used by more than 2,000 dealerships, Rapid Recon ensures the accountability of processes, property, and people. Hence, dealers know answers quickly, find assets anywhere, and sell vehicles promptly to grow dealership profitability. www.rapidrecon.com CALL US: +650-999-0497 PRODUCTS CONTACT About Us OUR EASY-TO-USE CLOUD-BASED APPLICATIONS CAN BE CUSTOMIZED TO ACCOMMODATE AND IMPROVE YOUR CURRENT WORKFLOW PROCESSES. THIS INCLUDES QUICK UPDATING TO MEET YOUR CHANGING NEEDS. FROM THE VERY FIRST DAY, YOUR IMPLEMENTATION TEAM WORKS WITH YOUR STAFF TO ENSURE YOUR SYSTEM DESIGN MEETS YOUR DEALERSHIP’S SPECIFIC REQUIREMENTS. WE THEN PROVIDE UNLIMITED COACHING, TRAINING AND FEEDBACK, TO HELP YOU REACH AND MAINTAIN YOUR TARGET SPEED-TO-SALE PERFORMANCE GOALS.

Featured Articles AuthorYearPublishing SourceLet’s Bring Back the Wish Book February 27, 2025Let's Bring Back the Wish Book By Josh DeYoung AutoSuccess, February 1, 2025 Design. Beauty. Desire. Car makers spend billions of dollars yearly on vehicle design and new model advertising. Beauty product sales worldwide will reach $108.41 billion this year. Read More »No More Scan-and-Pray Trade-in Losses February 7, 2025No More Scan-and-Pray Trade-in Losses By Dennis McGinn AutoSuccess, February, 2025 Following their visits to NADA last month, we have a more thankful nation of car dealers. For many reasons, optimism is strong for a healthy 2025. S&P Global Mobility Read More »From Trust To Transactions December 4, 2024From Trust to Transactions: How Transparency Makes Your Vehicle Shine By Dennis McGinn AutoSuccess, December 2024 The used car market is more competitive than ever, and dealerships must stand out. Buyers now compare vehicles across platforms, scrutinizing every detail. Transparency Read More »Creating Predictable Profit in a Volatile Automotive Market October 1, 2024Creating Predictable Profit in a Volatile Automotive Market By Dennis McGinn, Founder & CEO of Rapid Recon AutoSuccess, October 2024 In 2024, dealerships face a challenging landscape, with revenue and new car sales on the decline. As profit margins tighten, managing Read More »The First and Most Crucial Step to Profitable Used Cars September 1, 2024The First and Most Crucial Step to Profitable Used Cars By Dennis McGinn, Founder and CEO of Rapid Recon AutoSuccess, September 2024 In today’s evolving automotive industry, efficient reconditioning is more essential than ever for maximizing profitability. Rising interest rates Read More »1 2 3 … 10 › Let’s Bring Back the Wish Book February 27, 2025 Let’s Bring Back the Wish Book By Josh DeYoung AutoSuccess, February 1, 2025 Design. Beauty. Desire. Car makers spend billions of dollars yearly on vehicle design and new model advertising. Beauty product sales worldwide will reach $108.41 billion this year. In both cases, the goal Read More » Rapid Recon Connects with Industry Leaders at NADA New Orleans February 20, 2025 Rapid Recon Connects with Industry Leaders at NADA New Orleans By Anthony Greenhalgh Jan. 24th, 2025 The NADA Show in New Orleans provided an incredible platform for Rapid Recon to connect with industry professionals and showcase how collaboration drives dealership efficiency and success. Engaging with Read More » No More Scan-and-Pray Trade-in Losses February 7, 2025 No More Scan-and-Pray Trade-in Losses By Dennis McGinn AutoSuccess, February, 2025 Following their visits to NADA last month, we have a more thankful nation of car dealers. For many reasons, optimism is strong for a healthy 2025. S&P Global Mobility projects 16.2 million new-vehicle sales Read More » Five Opportunities to Improve Sales Efficiency and Cash Flow Now January 30, 2025

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Five Opportunities to Improve Sales Efficiency and Cash Flow Now By Dennis McGinn AutoSuccess, January 2025 When I write about efficiency, I don’t mean cost-cutting or belt-tightening. I mean growing sales margins, making more confident trade appraisals, and working the used car operation to increase Read More » From Trust To Transactions December 4, 2024 From Trust to Transactions: How Transparency Makes Your Vehicle Shine By Dennis McGinn AutoSuccess, December 2024 The used car market is more competitive than ever, and dealerships must stand out. Buyers now compare vehicles across platforms, scrutinizing every detail. Transparency has become essential to Read More » Creating Predictable Profit in a Volatile Automotive Market October 1, 2024 Creating Predictable Profit in a Volatile Automotive Market By Dennis McGinn, Founder & CEO of Rapid Recon AutoSuccess, October 2024 In 2024, dealerships face a challenging landscape, with revenue and new car sales on the decline. As profit margins tighten, managing profitability has become more crucial Read More » The First and Most Crucial Step to Profitable Used Cars September 1, 2024 The First and Most Crucial Step to Profitable Used Cars By Dennis McGinn, Founder and CEO of Rapid Recon AutoSuccess, September 2024 In today’s evolving automotive industry, efficient reconditioning is more essential than ever for maximizing profitability. Rising interest rates and shifting inventory dynamics make it Read More » « PreviousPage1Page2Page3Page4Page5Next »

By Dennis McGinn, Founder and CEO of Rapid Recon AutoSuccess, May 2024 If you want to manage inventory holding costs and bolster your earnings per share, consider how your used car reconditioning operates. When recon is run well, it is dialed in and efficient. Cars get saleready within three to five days of acquisition. Dialed-in means keeping every step aligned with a three-to-five-day time-to-line standard. When you scan the broad landscape of recon processes, a few common traits emerge. The most dialed-in operations have consistent times and roles, handing off each completed recon step to the next phase in the chain from start to front-line ready. Those who use the scoreboard as a monthly progress metric have more consistent three-to-five-day time-to-line. These vehicles retail faster, which means more margin and cash flow are flowing back into your operation.With 20% margin compression with us again, faster reconditioning reduces inventory holding costs. Well-run reconditioning can reduce holding cost margin erosion by half or more. Managing the recon operation to manage holding costs is a car dealer’s best offense against margin compression. “There’s a pressing need for dealerships to expedite vehicle sales to reduce inventory holding costs,” said Gina Cocking, managing director and CEO at Colonnade Advisors LLC. However, you cannot eliminate holding costs; you can only reduce them by selling cars faster. Pivotal to faster turn is efficient vehicle reconditioning. You add one turn of inventory for every 2.5 days you speed up recon. You manage your holding cost and resist margin compression when you: 1. Review your market appeal: Stock your brand and sandwich those cars between non-brands offering a level below your brand and one level above. Ruthlessly adjust pricing by day 15 and sell them by day 31. You’re buying the wrong cars if this isn’t consistently happening.2. Use reconditioning software: Reconditioning software tools help you diagnose used car workflow bottlenecks and delays in real-time so you can resolve issues that otherwise will slow inventory’s speed to sale. The goal is to get cars front-line ready within three to five days of acquisition. 3. Use your data: Recon software reports, or those you compile manually, provide a glance at how holding costs are trending within your group and its stores. The data highlights these costs on a macro level and reveals sluggish steps within the process driving these costs up. Now you know what to tweak or which people to challenge to improve. Two additional cost-control reports in recon software help you manage time to line and improve aging. The former is the guard dog for recon operations, as it tracks group and group store speed to sale. The aging report, often color-coded, highlights areas of concern: Alerts you