This breakout section of Rural Lifestyle Dealer's 2018 Dealer Business Trends & Outlook Report provides a deeper analysis of forecasts and opportunities for New Holland dealers. Read the feature in the winter issue and email firstname.lastname@example.org for a copy of the complete 46-page report.
- Nearly 95% of New Holland dealers say total revenues will be as good as or better this year compared with last year and 92% say aftermarket revenues will be as good as or better this year compared to last year.
- New Holland dealers say zero-turn mowers have the greatest potential for increases in unit sales and utility vehicles top the list of products that New Holland dealers will be adding.
- About 68% of New Holland dealers say customers have a brand in mind most of the time when they visit the dealership. Nearly 60% say customers accept their brand recommendations most of the time or almost always.
New Holland Dealers' Commentary:
What are you doing to help maintain strong margins throughout your dealership?
“Working harder and smarter.” … “Tracking sales and lost sales, following up on leads and calls.” ... “Trying to better our appearance and expand our knowledge base on equipment.” … “Trying to offer exclusive products or services.” … “Value packages such as bucket hook and rear work light and include delivery in the cost of machine (but, price our equipment so as to include the cost of these value-added aspects). Also, provide subsidized first routine service and free transportation on warranty related issues. Again, we include an average internal expense into cost calculations to take this level of service into account.”
What rewards or incentives do you offer to help recruit, retain and motivate employees?
“Performance and bonuses.” … “All my employees are on a commission in addition to salary, we pay 100% of health insurance for our employees.” … “Paid health benefits, life insurance 401K with contributions, paid vacation and production bonus.” … “We pay a bonus on customer satisfaction surveys at a certain level. We pay a finder’s fee and retaining fee to employees who find us new hires.” … “Maintain profit sharing, 401K and offer health insurance benefits.”
“Incentives for meeting sales goals and service techs for closing work orders timely.” … “Bonus on a dealership percentage, trying to improve benefits, such as insurance, and goal recognitions.” … “We have a yearly program that we following, keeping or pay to employees in line with competition.” … “Signing bonuses and commissions.” … “Techs are paid on a performance basis as are our managers. We offer the best benefit plans that we can afford.”