Tag: profit

Pinewood supports EV retailers to maximise workshop returns

It’s no longer a debate of whether electric vehicles will take off or turn out to be a passing trend. With the UK Government insisting that 50% of new vehicles will be zero emissions by 20281, and 100% by 20352, the change is now a reality.

According to Pinewood Technologies, dealers must make use of the tools in their DMS to uncover new profit opportunities and stay ahead of the curve when it comes to electric vehicles. Pinewood have been working with dealers across the Nordics where 84% of all new cars sold across Norway in January 2022 were electric vehicles3.

Stine Mundal Hagen, Corporate Business Development Manager for Porsche Norway said: “Pinewood DMS has given us the perfect tool with which we can monitor and steer all aspects from trade ins, car sales to service and used cars. Combining this with the financial capabilities of the system, we have reached new levels of process excellence in our operations. Pinewood’s extensive experience in the retail car industry has greatly helped us in our quest for increased value and service for our customers.”

It’s no secret that hybrid and electric vehicles have fewer serviceable parts and longer service intervals than traditional petrol or diesel cars. Because of this, electric vehicles may appear less profitable for workshops on the surface. However, dealers can prepare their teams with alternative ways to bridge this revenue gap.

Timely communications

It’s vital that dealers use their DMS effectively to maximise profits. Service Advisors must ensure every customer receives regular reminders, with a link to book their car in. Mark Davis, Dealer Principal at Brighton Honda explains that being able to set contact plans and send branded service reminders in Pinewood DMS is essential for his business –

“The customer experience is great with Pinewood DMS. We can send text reminders in a touch of a button from the service department. It’s really brought us into the 21st century with what people now expect with their online experience.”

Increase upsell 

After securing the booking, Service Advisors are presented with a golden opportunity – to upsell more cosmetic repairs, like dents and paintwork. With a system like Pinewood DMS, dealers can create custom checklists and adapt services by brand or vehicle type, helping Technicians to identify and upsell more additional work.

Save time managing multiple teams

Servicing electric vehicles requires working with batteries, so dealers will need to expand or upskill their aftersales teams to include electrical engineers. Inevitably, dealers need a system that handles multiple labour rates – especially if the workshop caters for both hybrid/ electric and petrol/ diesel engines. Many systems on the market are not equipped to handle this, so dealers must weigh up the implications and challenges if their system falls into this category. Without a sufficient DMS, dealers will need to manually calculate the labour rates – which can be inefficient and time consuming.

Planning ahead to maximise productivity

Vehicle retailers must consider the extra safety precautions needed to run an electric vehicle workshop – such as handling high voltage batteries, and accessing specialist tools and equipment. This will involve building separate workstations for EV teams, safely distanced from the petrol/ diesel vehicle bays. The changes will affect the workshop diary, so it’s key to get a DMS that can handle this, to maximise productivity and draw the best possible returns.

For example, Pinewood’s Workshop Planner makes it easy to manage different skillsets and service teams, or schedule repairs based on productive hours for each area – saving hours and boosting efficiency for EV Workshop Controllers.

The future for EV dealers…

With electric vehicle sales only set to increase, dealers need to have the right tools in place to maximise revenue and profits. With close relationships supporting dealers in the leading electric vehicle markets worldwide, Pinewood offers a strong solution for EV retailers.

If vehicle retailers are interested in learning more about Pinewood’s EV offering, visit: www.pinewood.co.uk/contact-us

 

REFERENCES:

  1. Sharpe, T. (2022, April 8). Government proposes that half of all new car sales must be EV by 2028. Retrieved from AM-online: https://www.am-online.com/news/market-insight/2022/04/08/government-proposes-that-half-of-all-new-car-sales-must-be-ev-by-2028
  2. COP26 declaration on accelerating the transition to 100% zero emission cars and vans. (2022, Apr 8). Retrieved from gov.uk: https://www.gov.uk/government/publications/cop26-declaration-zero-emission-cars-and-vans/cop26-declaration-on-accelerating-the-transition-to-100-zero-emission-cars-and-vans
  3. Hill, J. (2022, February 3). Norway’s stunning new EV numbers: 84% of new car sales in January all electric. Retrieved from The Driven: https://thedriven.io/2022/02/03/norways-stunning-new-ev-numbers-84-of-new-car-sales-in-january-all-electric/

Beat the Supply Shortages and Boost Revenue

There’s never been a more crucial time to focus on used stock. In fact, for multi-branch businesses, the current new vehicle shortages, and surging market value of used cars, presents a golden opportunity – if retailers have the tools to tap in. Pinewood DMS is focused on maximising profits group-wide, allowing leaders to handle used stock as efficiently as possible.

Neville Briggs, Managing Director at Pinewood Technologies explains:

“Our customers, including several leading dealer groups, are driving strong revenues from their used retail sales – having tuned into the market and made use of our built-in tools. Pinewood DMS gives leaders a full view of their stock across multiple sites, focused on boosting revenue.”

Having a system with a single point of control, managers can identify where process improvements are needed, benchmark their best-performing sites, and ensure all branches are turning over vehicles at a competitive margin.

Darren Lakin, Aftersales Director at Wessex Garages says:

“The fact we can see everything in one place, whether it’s in sales, accounts, service or aftersales, makes everybody’s life much easier. It’s made a massive difference, it’s saved man-hours, and it’s streamlined our approach to business across every platform.”

Fuelled by the lockdown restrictions, car buyers now have more choice than ever – able to research and buy online, in-store, or a mix of the two. Failure to efficiently prepare and list stock online could result in losing customers and dealers need to be supported by a DMS which can leverage the business. With a live, accurate view of stock, dealers using Pinewood DMS can publish professional stock ads online in seconds, straight from their mobile devices.

Tracking the performance of multiple branches is key. Comparing vital metrics such as preparation efficacy, true days in stock, and profit margins, enables leaders to analyse performance and act on insights from their best-performing branches. Briggs explains:

“Our top-performing dealer groups are using Pinewood BI to obtain critical insights and leverage their returns. With an all-in-one system like Pinewood DMS, it’s easy for leaders to make the important business decisions and analyse trends across every site. Even down to getting the best rates for funding, groups can quickly retrieve accurate financial data from the DMS, whereas most systems would struggle, needing to collate data from multiple sites, across several platforms. Maximising profit from used stock relies on getting the best rates for funding.”

Ultimately, there is a considerable profit opportunity in the used vehicle market. Groups can significantly maximise revenue and results by efficiently managing stock. Taking a holistic approach can result in a big win, driving results. Pinewood DMS provides all the tools large-scale businesses need to excel. If you’re keen to see how your business could benefit, visit www.pinewood.co.uk

Pinewood DMS helps dealers go digital! Boost sales in Lockdown 2.0

The recent lockdowns have provided an unexpected motivation for dealers to revisit the abilities of their DMS and explore how to achieve an engaging, contactless buying experience.

Pinewood users have discovered a range of tools for creating a seamless digital customer journey and perhaps surprisingly, mobile apps are playing a big part in this. Neville Briggs, Managing Director at Pinewood Technologies explains:

“It’s been our mission to help customers uncover new ways of generating revenue. Our popular Stock+ app has been central to successfully taking the initial sales experience online. Salespeople can record and send a personalised video, show highlights of the vehicle up-close and answer any questions. It’s more engaging than a call or email and of course, more likely to convert enquiries. Being integrated into the DMS, managers can easily see that enquiries are being dealt with when working remotely.”

With the Stock+ app, salespeople can take high-quality vehicle photos on their phone, which are updated to dealer and OEM websites directly through the DMS. Pinewood have recently improved this and the upload process can now enhance images by automatically removing the background. As a result, sales teams can create professional-level content without the need for editing skills.

Mark Lambird, Managing Director at Eastbourne Motoring Centre explains: “Using Stock+, we definitely sell more cars! People buy the cars much quicker if they can see them in a video – we can talk over the features and benefits, it’s been a real positive.”

Personalised video has undoubtedly changed the game for car sales. From home, customers can benefit from the expertise and assurance of speaking to a professional in-store while taking a virtual tour of the vehicle. This can be followed-up with a convenient two-way SMS conversation, all accessible from the DMS customer record.

Pinewood are constantly updating the DMS with a focus on enhancing the digital sales experience. By making use of these tools, dealers can boost revenue with little effort or cost and it’s clear that contact-free tools are the way to go.

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