Mike Maheras, General Manager of Phillips Chevrolet, knows that buy-in from his staff drives sales and profitability. He leverages GMF’s lucrative Dealer Dividends program and portfolio of GM Protection products to increase backend profit and provide extra value to customers in the stiff Chicago market. “There are 56 Chevy dealers just in our area, so we’ve got to be competitive.”
Episode 34: Will Cumming
Will Cumming, Owner Principal at Cumming Chevrolet in San Diego, has been floorplanned with GMF since shortly after he took over operations in 2018. In six years, he’s doubled monthly sales, attained 100% RSI effectiveness and started a lease program to generate a used car pipeline. And he hits Dealer Dividends Platinum tier every month.
Jacquelin Sewell, Managing Partner of Sewell Cadillac and a Cadillac Dealer Council member, is a born leader. She leads her staff to leverage exclusive captive benefits, drive vehicle sales and establish her dealership in the DFW luxury market. When it comes to customer retention, Jacquelin values “the relationship that a captive provides.”
“The only way you’re going to have more profitability with anything is if you have buy-in from your team.”
A few years ago, Mike had to make a change. His dealership’s previous ties to financial institutions were not generating enough profit, and GMF had been calling. But Mike didn’t bite at first; while captive benefits like Dealer Dividends® seemed like a homerun, Mike needed to address his team’s concerns about GMF floorplan, including whether hitting benchmarks was realistic. After careful consideration, Phillips Chevrolet made the call to switch to GMF, and they’ve hit Platinum tier every single month and continue to rake in serious cash: “Hitting Platinum is like a well-oiled machine right now.”
“One of the game changers is Advanced Protection Plus; we’re running about 50% penetration just on those policies.”
Every dealer knows that retaining customers is necessary to keep their business afloat. Phillips consistently crushes aftermarket product sales, so Mike knew GM Protection products would keep customers coming back to the service drive for valuable benefits. His sales staff asks key questions to sell GM Protection’s extended service contracts and add on GM Protection benefits in an unobtrusive way that customers love: “It’s a retention policy. If you sell something great to keep the customer coming back to the dealership, your retention is going to go through the roof.”
“GMF’s more profitable, and not just in the variable department — it’s hands-down more profitable throughout the entire dealership.”
Since Mike’s store, Phillips Chevrolet made the switch to GMF floorplan in 2021, he’s been inundated with questions from owners and general managers about whether GMF’s support is up to par. His response? “What are you waiting for? You’re leaving money on the table.” Mike uses captive benefits to amplify his retention and sales strategies, and his GMF contacts are all focused on working diligently alongside him to ensure that his dealership reaches its monetary goals: “Our GMF Reps are not looked at like they’re working for GMF, they feel like they’re part of our organization.”
Be like Mike; talk to your GMF Rep about how to build connections with your captive and leverage unique benefits to capitalize on your dealership’s retention and leasing goals.