Previous event – Used Car Conference 2018
09 April 2018 - 3:00pm | Tristan Young
The performance of used car sales operations is often the primary differentiator between a ‘top’ retailer and an average one. And in an environment of falling new car sales, every used car department needs to up its game if auto retailers are to thrive in 2018.
Our panel of experts is made up of some of the most well-respected industry advisors along with franchised and independent retailers. They include; Jason Cranswick, Jardine Motor Group, Cliff Deller, Vehicle Re-Marketing Association and Nathan Quayle, Fords of Winsford.
In a challenging market where used car sales are increasingly important to auto retailers, competition is fiercer than ever. Attention is therefore turning to this vital area of the business, one which might previously have escaped close scrutiny, and where senior directors together with their management teams are under increasing pressure to improve performance.
In this one-day conference we shine a spotlight into every nook and cranny of the used car department and question every area of operation and decision making. We will encourage you to think differently about your business and the ways in which you source, price, market and sell used vehicles. The result will be a series of real-world, practical and useful actions that you can take away and implement in your own dealership to grow sales and maximise profitability.
Key conference topics will include:
- The effect of recent market trends and key developing sectors on the way customers view and purchase used cars
- The effect of a changing market on residual values
- Using dynamic pricing to maximise profitability
- Maximising profit opportunities from part exchanges
- How to best use data to source the right stock
- A look at how the ‘best’ retailers achieve their results based on insight gleaned from thousands of retailer visits
- A detailed examination of pricing strategy based on all factors (eg. Cash vs finance, add-ons and aftersales services)
- The key performance indicators that mark out the best performing dealerships
- Understanding and implementing best practice on used car finance
- The key role that sales staff play, how pay structures affect sales performance, and how to attract, motivate and retain the best
- Raising the game on used car marketing
2018 has been dubbed by some in the industry as ‘the year of the used car’. Whilst that may or may not turn out to be true, if you are responsible for used car sales then 2018 can be your year. This conference is the place to focus your attention, think big about this market sector and take away the tools to achieve your best results ever.
Al Clarke Conference Chairman
9.00-9.15: Welcome address
Nick King, Insight Director, Auto Trader
9:15-9.40: The outlook for residuals
Rupert will give a brief review of the growth of the new and used car markets in recent years highlighting key developing sectors and the impact on used car residual values, whilst also covering the concerns of the retail consumer in a changing market. He will also look at the importance of “Big Data” in the dealer pricing process and the impact dynamic pricing has on sales and remarketing operations in relation to sourcing the right stock to maximise on retail sales success. To summarise, there will be a review of the outlook for the market and the dealer networks for 2018 and early 2019
Speaker: Rupert Pontin, director of valuations, Cazana
9.40-10.05: The latest key performance drivers for your business
Used car performance is possibly the largest differentiator between the performance of top retailers and the average dealer. In this session, Mike will present the latest key performance indicators and key performance drivers which impact this performance. These results will be split across the different areas of the industry as there remain significant variances in results.
All of these results are underpinned by different working practices, Mike will utilise the thousands of retailer visits performed by ASE’s ProFit Optimisation team and provide an insight as to how the “best” achieve their results. This will be backed up by data from ASE’s used car profit maximisation tool, MiProfiler+, showing the level of performance currently being achieved and where retailers should be investing their funds.
Speaker: Mike Jones, chairman, ASE
10.05 -10.30 Maximising profit opportunities from part-exchanges
Guy will explore the latest solutions that can drive innovation and efficiency within every retailers used car operation. Drawing on detailed analysis and insight from both vendors and buyers, with Europe’s leading car marketplace he will provide practical examples of how all retailers can maximize their used car revenues.
Speaker: Guy Thomas, Group Head of Product, BCA
10.30 – 10.55: Q&A speaker’s session
Rupert Ponting, Mike Jones, Guy Thomas
10.55 -11.20: Refreshment break
11:20-11.50: Recruiting, motivating and rewarding
Used car sales is one of the most ruthless areas for staffing in a franchised retail environment. With higher basic, lower commission pay schemes beginning to take hold in new cars, is it time to look at this for used cars?
To recruit and reward great people we need to re-evaluate the traditional commission-based pay structure. Malcolm will challenge us to consider that to attract a new pool of talent we should consider a new approach – a new generation of staff have different aspirations to simply earning a good income!
Speaker: Malcolm Miller, managing director, RTS Group
11.50-12.20: Finance Smörgåsbord – Feed the Customer’s Appetite with Choice & Transparency
The first step on a used car buyer’s journey is for most their monthly budget. Yet, many car buyers choose not to dine at the dealer’s finance table. Used car dealer finance is on the rise in volume terms yet many customers still opt for other financing options even while the benefits of dealer finance are wider than for an unsecured loan. Opportunities are there for all dealers and winning hearts and minds within dealers and with consumers will create a platform for sustained success. Adam will show us how to create a better customer journey where education, engagement, empathy, regulation and reputation are all on the table.
Speaker: Adam Mepham, director, MotoNovo Finance
12.20 -12.45: Round table discussion session
Nathan Quayle, director, Fords of Winsford. Cliff Deller, Director, Vehicle Re-Marketing Association. Paul McGill, PMcGill Services Limited
12:45 -13.45: Lunch
13:45: 14.15: Impactful pricing strategies
Every retailer thinks they have a clear pricing strategy suited to balancing profit retention and consumer demand, but are they as optimised as they could be? Using pricing data from over 13,000 retailers across circa 5 million vehicle transactions in 2017, Chris will reveal the strategies employed by the industry’s very best retailers. What are those key behaviors that deliver the best overall results? Is pricing in 2018 about the cash price or the overall offer? With finance playing an increasing role in the buying journey, how will retailers balance pricing across an ever more complex landscape? This session will offer attendees specific actionable insights they can take away and apply to their own operation, delivering clear measurable results.
Speaker: Chris Penny, franchise brand director, Auto Trader
14.15-14.45: Raising the bar on used car communications
With lower APR’s and monthly PCP payments making new cars appear hugely affordable, how do you turn your customers attention back towards the used side of the
business? Paul will review of the latest customer targeting, social custom audiences and machine automation techniques in marketing to give every attendee practical advice on how to improve all aspects of their used car marketing plans.
Speaker: Paul Smith, director, RLA
14.45 -15.10: A view from a leading independent retailer
Speaker: Nathan Quayle, Group Marketing Manager, Fords of Winsford
15.10-15.35: “Critical issues – potential solutions”
Speaker: Jason Cranswick, director, Jardine Motor Group
15.35 – 16.00: Round table discussion session
Nathan Quayle, group marketing manager, Fords of Winsford. Cliff Deller, director, Vehicle Re-Marketing Association. Jason Cranswick, director Jardine Motor Group. Paul McGill, PMcGill Services Limited
Jason Cranswick, commercial director, Jardine Motors Group. Jason has responsibility for the ongoing development of Jardine’s group F&I sales strategy and ensuring readiness for future consumer demands. Over the past year Jardine Motors has grown to more than 75 locations, representing 23 leading automotive brands. Previously, Jason was head of customer quality & network development for Audi UK. During his time, he lead Audi to record levels of customer satisfaction, network satisfaction and dealer profitability by implementing sustainable programmes for customer centricity that complimented Audi’s ambition for volume growth and market leadership.
Nathan Quayle, Group Marketing Manager, Fords of Winsford. Nathan is responsible for the planning and execution of all marketing efforts for Fords of Winsford Car Supermarkets. With locations in Trafford, Manchester and Winsford, Cheshire the car supermarket supplies used cars to the North West with stock levels totalling over 1900. Prior to this, Nathans entry into the sector was working at an independent garage in various used car buying and selling roles. Nathan is currently working on bringing FoW Car Supermarkets to the forefront of modern used car retailing whilst preserving the brand and the values of the 60-year-old family run business.
Cliff Deller, director, Vehicle Remarketing Association. Cliff has 35 years’ experience in car retailing and for the past decade he has led all aspects of used car operations at Inchcape Retail, one of the UK’s largest car retail groups. In addition to his position as director of the VRA he is a member of the RMIF/NFDA Used Car Working Group. As a used car guru, Cliff is now advising a number of businesses in the car retail sector.
Rupert Pontin, Director of Valuations, Cazana. Rupert has been a well-respected figure in the automotive industry for more than 30 years, having worked at major blue-chip organisations including British Car Auctions, Glass’s, and now, Cazana. Throughout this time, he has gained valuable experience in the management, valuation, and strategic remarketing of new and used vehicles, working with OEMs, leasing companies, and financiers. He also has considerable experience developing and implementing commercial strategies for UK businesses, business transformation into hi tech digital businesses and played a key role in helping Glass’s revitalise its position in the UK market during two spells with the organisation.
Mike Jones BSc FCA, chairman, ASE. Mike has over 15 years’ experience in the Automotive Industry, having worked for ASE and its sister company, Trevor Jones Chartered Accountants. Being initially responsible for the audit practice he built strong relationships with his portfolio of clients and grew the business substantially more than doubling turnover in 3 years. Mike then took over responsibility for the overall Trevor Jones practice, working increasingly closely with banks brands and retailers to improve retailer profitability and reduce risk of business failure.
Paul Smith, commercial director, RLA. Paul is the Commercial Director at RLA: an automotive specialist creative and technology agency based in Bournemouth and London, and a wholly owned business of the Mission Marketing Group plc – the 9th largest UK-based marketing communications group, with 25 offices across the UK, Asia and the USA. In the last 12 months, Paul has hosted a brand evolution conference for Scania Africa in Johannesburg, presented a digital future technology conference in Singapore and Shanghai and is currently rolling-out a new global customer reward programme for 27 markets for BMW and MINI in Munich.
Chris Penny, franchise brand director, Auto Trader. Chris joined Auto Trader in 2011 following a career in the motor trade spanning retail sales, asset finance and leasing. As Franchise Brand Director, Chris is responsible for the growth and success of 3,500 franchise forecourts. Chris and his team research behaviours of Auto Trader users to find the key trends that will help retailers to continue to thrive in an increasingly competitive landscape. When not sharing the latest insight with retailers, Chris leads Auto Trader’s ‘customer discovery’ programme where he invites retailers into Auto Trader’s offices to help shape the future of the company’s products and services.
Malcolm Miller FIMI, managing director, RTS Group. RTS work with many of the leading automotive brands and their Dealer partners in the UK and around the world, with a China office recently added. Malcolm has a wealth of experience in developing people with many manufacturers and founded the Mazda Academy. As a father of three generation Y adults he has insight into the changing expectation of employment.
Guy Thomas, Group Head of Product, BCA. Guy Thomas is Group Head of Product at BCA Marketplace plc. He has spent over 25 years working in the automotive sector, initially within retail, fleet and rental sales management, and since 1996 specialising in digital products and solutions. He co-founded 2nd Byte, managing the first online used vehicle locators and a range of brand websites, before moving on to develop and launch RMS Automotive for Manheim. He has been at BCA for 9 years, leading a team of Product Managers with commercial responsibility for all key products. This has included the award winning BCA Dealer Pro and Inspect Pro systems, Market Price valuations and innovative online sales solutions for both OEMs and Dealer Groups.
Adam Mepham, head of motor, MotoNovo Finance. Having started his career in the car sales and fleet consultancy industry, in 2002 Adam switched to the motor finance sector. Today, as Head of Motor, Adam leads a growing team at what is a multi-award winning business with a reputation for innovation and change. Throughout his career, Adam has prospered by combining his practical subject knowledge with a firm eye to the future. At the ARN Used Car Conference, Adam will share some of his own insights into the future direction of used car motor finance, a direction he firmly believes can gain a new momentum in 2018.
Paul McGill, PMcGill Services Limited. Paul has 38 years’ experience in the motor finance industry, last 8 years as Head of Sales with Black Horse Consumer Finance until 2016. Previously Sales Director Bank of Scotland Motor Finance. Paulk currently holds non- exec director roles with Cambria Autos plc and Big Motoring World.
Al Clarke, Programme Chairman, Auto Retail Network. Al has held senior executive roles with Ferrari, Maserati and the SMMT. Al started his career as a journalist and presenter with a decade working for the BBC and in commercial radio. He has an interest in the application of digital technology and connected car services in the automotive industry and regularly speaks at, and chairs events on, these issues.
Nick King, Insight Director, Auto Trader. Expert in digital media and marketing, possessing the experience to analyse and interpret trends in consumer adoption of technology and develop strategies for customer acquisition and retention through digital and traditional offline channels. Nick joined Auto Trader in January 2007 as Business Intelligence and Market research Director. Responsible for analysis and insights within the myriad of reporting tools currently available for the internet.