Kirk's Market Thoughts Message Board

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Non-Tech : Kirk's Market Thoughts

COHR 134.64

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Nov 5 3:59 PM EST

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To: Kirk © who wrote (9820)	5/18/2020 10:24:38 AM
From: robert b furman	1 Recommendation Recommended By Winfastorlose Read Replies (1) of 26422

Good Morning kirk, You can bet they are almost all trucks. Can't hardly sell a car in Texas. Shopping for a low floorplan rate was my lasting gift to my partners. They were afraid GM would be angry with us for changing floor plan sources. GM was very high-usually prime back then. We finally made the swap after they raised the insurance rate on the inventory. The savings paid my annual salary at just the one dealership I ran. At a peak of inventory, we would floor 30 million between the 4 dealerships. Two points saved $600,000, but we never carried that large of an inventory all year. I always built a larger inventory at the end of the model year. The rebates were always larger during model close out. It was a way of getting a bigger discount on the product we sold. Our market was a lower income market, but faster growing as Houston grew the suburbs out our way. It has really accelerated now that the freeway is 6 lanes out into our Liberty county. If I was only 20 years younger. <smile> Bob

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