This breakout section of Rural Lifestyle Dealer's 2018 Dealer Business Trends & Outlook Report provides a deeper analysis of forecasts and opportunities for Massey Ferguson (AGCO) dealers. Read the feature in the winter issue and email firstname.lastname@example.org for a copy of the complete 46-page report.
- Nearly 93% of Massey Ferguson (AGCO) dealers say total revenues will be as good as or better this year compared to last year. Slightly more than 93%of Massey Ferguson dealers expect aftermarket revenues to be as good as or better than 2017.
- Massey Ferguson (AGCO) dealers say zero-turn mowers have the greatest potential for increases in unit sales and tractors less than 40 horsepower top the list of products Massey dealers will be adding.
- Nearly 60% of Massey Ferguson (AGCO) dealers say customers have a brand in mind most of the time or almost always when they visit the dealership. More than 62% say customers accept their products brand recommendations most of the time or almost always.
Massey Dealers' Commentary
What are you doing to help maintain strong margins throughout your dealership?
“Increased customer contact and customer service.” … “Selling package deals, but maintaining margins is very difficult when competing with other dealers.” … “Run a tight ship, always do your job, treat customers right and margins will come.” … “Keeping interest costs down, buying used equipment sight, utilizing 0% financing as often as possible.” … “Reinforcing with the sales staff our margin guidelines.” … “Upselling added features & accessories. No-hassle pricing. I would rather lose the sale than lose margin. If they can sell it cheaper for the same quality and survive best of luck. I don’t sell cheap, I sell quality, which is why I am a one-brand dealer.”
“Promotions for service and demos of new equipment to perspective buyers.” … “Invest in our service department.” … “Keep costs down, offer good customer service, and keep weekend hours.” … “Reducing inventory levels, improving turns, thus reducing interest. Pushing parts and service sales. Give periodic pep talks. Review financials with key people. Ask for ideas from employees.” … “Differentiating our products compared to our competitors, so that the initial price is accepted as a good solid price.” … “Lower amounts given for trades, especially high dollar trades.”
What rewards or incentives do you offer to help recruit, retain and motivate employees?
“Paid health benefits, life insurance, 401K with contributions, paid vacation, production bonus.” … “Bonuses shared on sales.” … “Uniforms, online training, some tool money.” … “Birthday parties, a portion of all processed 4H and FFA beef and swine purchased at local area county fairs, Christmas bonuses.” … “If you get or have a good employee, pay them well and you have no issues.” … “Bonus programs paid out quarterly to managers, matching RRSP (Registered Retirement Saving Plan), health benefits, training costs reimbursed.” … “Performance based incentives of all types.”
“We have bonus programs, and provide a high quality health insurance program when others are cutting benefits. We value our employees’ health, so we invest in the best for them.” … “Health plans, positive culture.” … “Bonus on a dealership percentage, trying to improve benefits, such as insurance and goal recognitions.” … “Cash referral fee for employees. I regularly bonus with PTO, and I’m adding bonus opportunities.” … “Give out gift certificates. Host a cook-out lunch regularly. Verbally acknowledge good work.” … “We offer a great place to work that is not just a job, but a future career. We also believe in making sure they are well informed, accepted for who they are and included in the business and its operations. We talk with them and ask questions so that we understand them and genuinely care about them and their well-being.” … “Bonus and 401K.”