Fixed Ops Journal - June 2018 - F33
FIXED OPS JOURNAL
LOANERS
continued from Page 32
am I losing business to a competitor by not
having one?
And what should dealerships with loaner
fleets do to improve them?
Focus on the key performance indicators.
What's the size of my fleet; how much does
that cost me; what is my length of loan? Maybe
more importantly, once I've completed the repairs on a customer vehicle, how long does it
take me to get the loaner vehicle back? How
much fuel am I spending per contract per vehicle per month? Am I spending more time
managing tolls than I am managing great customer experience? It's everything that would
lead into that profitability equation: What is
the money flowing out the door spent on
these loaner fleets, and what is the money
flowing in the door spent by customers? And
looking at, hopefully, the surplus.
Fleets are growing by about 10 to 15 percent
per year. But given everything that goes into
managing loaner fleets, on top of depreciation
of sedans, the cost of these fleets is almost doubling. It definitely challenges the value proposition and the profitability that dealerships are after. When you think about better managing
loaner fleets, and it's all about cost, any dollar
you save, you keep 100 percent of.
A loaner program drives trials of dealerships' newer products. If you have someone
with an aging vehicle that's coming off lease,
or is at the time when they should be considering buying a new vehicle, getting them in a
newer product is a very valuable sales asset.
They can treat that as a test drive that happens
over a couple of days, on their own time.
We're seeing big changes in the industry:
connectivity, autonomous vehicles, new
ownership models such as subscription services. What effects will these changes have
on loaner fleets?
If you don't master managing a loaner fleet,
you're going to get eaten alive by new mobility
models. The majority of it comes down to fleet
management competencies and digitalization competencies, and those are two things
that dealerships typically lack. If you can't
manage the 10, 20, 50, 100 loaners that you
have, and you want to roll out new products
and services that need to be managed as a
fleet, you're going to end up spending a lot
more in resources than you anticipated.
Everybody who has a service loaner fleet
typically has experienced the cost and burden
of carrying that platform.
If you give customers their time back, make
it more convenient, they'll open up their wallet.
JUNE 2018
PAGE 33
http://www.broadwayequipment.com
Table of Contents for the Digital Edition of Fixed Ops Journal - June 2018
Contents
Fixed Ops Journal - June 2018 - Intro
Fixed Ops Journal - June 2018 - F1
Fixed Ops Journal - June 2018 - F2
Fixed Ops Journal - June 2018 - Contents
Fixed Ops Journal - June 2018 - F4
Fixed Ops Journal - June 2018 - F5
Fixed Ops Journal - June 2018 - F6
Fixed Ops Journal - June 2018 - F7
Fixed Ops Journal - June 2018 - F8
Fixed Ops Journal - June 2018 - F9
Fixed Ops Journal - June 2018 - F10
Fixed Ops Journal - June 2018 - F11
Fixed Ops Journal - June 2018 - F12
Fixed Ops Journal - June 2018 - F13
Fixed Ops Journal - June 2018 - F14
Fixed Ops Journal - June 2018 - F15
Fixed Ops Journal - June 2018 - F16
Fixed Ops Journal - June 2018 - F17
Fixed Ops Journal - June 2018 - F18
Fixed Ops Journal - June 2018 - F19
Fixed Ops Journal - June 2018 - F20
Fixed Ops Journal - June 2018 - F21
Fixed Ops Journal - June 2018 - F22
Fixed Ops Journal - June 2018 - F23
Fixed Ops Journal - June 2018 - F24
Fixed Ops Journal - June 2018 - F25
Fixed Ops Journal - June 2018 - F26
Fixed Ops Journal - June 2018 - F27
Fixed Ops Journal - June 2018 - F28
Fixed Ops Journal - June 2018 - F29
Fixed Ops Journal - June 2018 - F30
Fixed Ops Journal - June 2018 - F31
Fixed Ops Journal - June 2018 - F32
Fixed Ops Journal - June 2018 - F33
Fixed Ops Journal - June 2018 - F34
Fixed Ops Journal - June 2018 - F35
Fixed Ops Journal - June 2018 - F36
Fixed Ops Journal - June 2018 - F37
Fixed Ops Journal - June 2018 - F38
Fixed Ops Journal - June 2018 - F39
Fixed Ops Journal - June 2018 - F40
Fixed Ops Journal - June 2018 - F41
Fixed Ops Journal - June 2018 - F42
Fixed Ops Journal - June 2018 - F43
Fixed Ops Journal - June 2018 - F44
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