Updated: Nov 6
When it comes to the automotive industry, one thing is clear – customer satisfaction is paramount. Dealerships strive to provide top-notch customer service and an enjoyable car-buying experience. One of our customers, a renowned Honda store in Winnipeg, Manitoba, is no exception. To enhance the experience for their customers and boost profitability, they turned to the F&I Accelerator™ training program. The results, as we'll see in this case study, were nothing short of remarkable.
Three of their finance managers, (actual names changed for this case study), Daniel, Chris, and Mark, embarked on a two-day journey to attend the F&I Accelerator™ training program. Their goal was to acquire new techniques and strategies that would improve their personal Gross Profit per Unit (GPU). What they achieved was truly outstanding.
The Remarkable Results
Daniel, one of the finance managers, experienced the most significant transformation. His GPU, which initially stood at $2059, soared to an impressive $3463 after the training – an astonishing increase of over 60%. Chris increased his GPU from $2066 to $3216, and Mark's GPU saw a substantial rise from $1949 to $2966. Overall, the dealership's GPU climbed from $1932 to $2898.
The F&I Accelerator™ Training Program
The success story at this Honda story can be largely attributed to the F&I Accelerator™ training program, which provided the finance managers with fresh and effective approaches to selling F&I products, a proven objection handling framework, and a customer-centric pitch strategy. This program revolves around developing a positive and proactive mindset and leveraging effective communication techniques to overcome objections and build rapport with customers.
The F&I Accelerator™ program adopts a hands-on approach that includes 1-on-1 training sessions, role-playing exercises, and ongoing coaching to ensure sustained success. This methodology ensures that finance managers can seamlessly implement what they learn, immediately in the real world. The personalized coaching and feedback provided by the trainers proved to be instrumental. They could identify each finance manager's strengths and weaknesses, tailoring their guidance to help them enhance their approach to selling F&I products.
The Proof is in the Numbers
The remarkable outcomes speak volumes. Daniel, Chris and Mark all saw a significant increase in their personal GPU figures, while the dealership benefited from a substantial surge in its overall GPU. The F&I Accelerator™ training program has proven to be an effective means for finance managers to bolster their skills, boost their confidence, and ultimately provide a superior car-buying experience for customers.
A Wise Investment
In conclusion, this Honda store’s decision to invest in their finance managers' training through the F&I Accelerator™ program paid off handsomely. The program's focus on mindset, communication, and practical training equips finance managers with the tools they need to excel. By increasing their personal GPU figures, these finance managers not only improved their own bottom lines but also significantly contributed to the dealership's overall success.
The case of this Honda store serves as a compelling example of how investing in the professional development of finance managers can lead to increased profitability, enhanced customer experiences, and a thriving dealership. It demonstrates the invaluable role that effective F&I training can play in today's competitive automotive landscape.
If you’re ready to invest in increasing your dealership’s profitability, we’re ready to help! Let’s connect for a 10-minute discovery call to discuss how we can replicate similar results in your dealership. The dealerships we train experience a 20-70% lift in GPU in just 30 days, and recoup their initial training investment in their first 4-5 deals after training.
Don't miss the opportunity to drive your dealership's success. Reach out today and embark on a path toward remarkable growth and profitability in just 10 minutes! Book your discovery call here.