Ben Thorpe Farm Equipment

What Should Influence Your Used Valuations?

By Ben Thorpe posted on October 9, 2020 | Posted in Used Equipment Remarketing

As part of his recent presentation at the 2020 Virtual Dealership Minds Summit, Trent Hummel, consultant and trainer with the Western Equipment Dealers Assn.’s (WEDA) Dealer Institute, showcased a series of studies conducted with Farm Equipment in which surveyed dealers were asked what influences their valuations of used equipment.

Optimizing Your Used Combine Business Through Data-Tracking

Trent Hummel breaks down how dealers can use hard data to get a handle on their used markets and make smart decisions with their used combine inventories.

By Ben Thorpe posted on October 9, 2020 | Posted in Used Equipment Remarketing

Interest in used equipment is on the rise, but not particularly in used combines. According to results from Ag Equipment Intelligence’s August 2020 Dealer Sentiments report, a net 6% of dealers reported their used inventory “too low” in July, the first time it’s been “too low” since June 2012.

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2021 Dealer Business Outlook & Trends Summary

Dealers Forecast Revenue, Unit Sales Growth for 2021

After a unique and difficult year, dealers are reporting they beat last year’s forecasts for 2020 and are indicating 2021 will see even more growth.

By Ben Thorpe posted on October 7, 2020 | Posted in Data & Forecasts

It’s been a strange year for dealers to say the least. Not only are dealers following a particularly wet and difficult planting season in 2019, but now they’re facing the long term effects of a global pandemic, as well as an election year in the U.S.

Special Report

How to Innovate Your Dealership Through a Changing Market

As customer demographics and equipment trends shift, don’t be afraid to shake up your business model.

By Ben Thorpe posted on August 31, 2020 | Posted in Best Practices, Data & Forecasts

The last few years have been marked by notable changes in the ag market, including increasingly stretched farm income.

Using Metrics & Incentive Programs to Optimize Aftermarket Revenue

Reed Allen, director of aftermarket for AgriVision Equipment, talks about how he implements incentive programs, tracks department metrics and uses mentorship to get the most from his parts and service departments.

By Ben Thorpe posted on July 12, 2020 | Posted in Best Practices, Department Management

With the importance of parts and service increasing as the ag economy continues to decline, making sure aftermarket operations are running at peak performance is key.

2020 Equipment Dealers Assn. Dealer-Manufacturer Relations Survey

Shortline Approval Holds Steady in EDA’s 2020 Dealer-Manufacturer Survey

This year’s EDA Dealer-Manufacturer Relations Report showed shortline manufacturers score higher on average than full-line manufacturers, as well as beating the average of all combined manufacturers on the survey.

By Ben Thorpe posted on July 4, 2020 | Posted in Data & Forecasts

The Equipment Dealers Assn. (EDA) has released the results of its annual Dealer-Manufacturer Relations Survey to equipment dealers.

Generating Cash Part 4: Selling Aged Equipment in the Wholegoods Department

By Ben Thorpe posted on June 1, 2020 | Posted in Best Practices, Department Management

In a recent webinar, Trent Hummel, consultant and trainer with the Western Equipment Dealers Assn.’s Dealer Institute, outlines key areas where dealerships can find room to generate extra cash in their wholegoods department.

Special Report

Dealers See Mixed Bag of Brand Loyalty & Dealer Loyalty

Though dealers surveyed in 2020 indicated the lowest rate of decrease in brand loyalty yet, many also saw farmers more willing to prioritize quality dealer service over staying loyal to a specific color.

By Ben Thorpe posted on June 1, 2020 | Posted in Best Practices, Data & Forecasts

In addition to canvasing growers, Farm Equipment editors reached out to several dealers to ask how they perceived brand loyalty to have changed in recent years.

Generating Cash Part 3: Billing Efficiency & Warranty Losses in the Service Department

By Ben Thorpe posted on May 25, 2020 | Posted in Best Practices, Department Management

Trent Hummel, a consultant and trainer with the Western Equipment Dealers Assn.’s Dealer Institute recently gave a webinar for Farm Equipment where he explained how dealers should be taking down credit card numbers ahead of time, when to get OEMs to help pay for warranty losses and how to increase billing efficiency.

Generating Cash Part 2: Optimizing the Parts Department

By Ben Thorpe posted on May 18, 2020 | Posted in Best Practices, Department Management

In a recent webinar, Trent Hummel, consultant and trainer for the Western Equipment Dealers Assn.’s Dealer Institute, explained how dealers can maximize the benefit of their OEM return program, sell obsolete parts to the wholegoods department at a discount and have their technicians assist by upselling parts while on service jobs.

Articles by Ben Thorpe

What Should Influence Your Used Valuations?

Optimizing Your Used Combine Business Through Data-Tracking

Dealers Forecast Revenue, Unit Sales Growth for 2021

How to Innovate Your Dealership Through a Changing Market

Using Metrics & Incentive Programs to Optimize Aftermarket Revenue

Shortline Approval Holds Steady in EDA’s 2020 Dealer-Manufacturer Survey

Generating Cash Part 4: Selling Aged Equipment in the Wholegoods Department

Dealers See Mixed Bag of Brand Loyalty & Dealer Loyalty

Generating Cash Part 3: Billing Efficiency & Warranty Losses in the Service Department

Generating Cash Part 2: Optimizing the Parts Department

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