Listen to the interview with Doug Formby, general manager at Toyota Marin, who emphasizes the importance of partnerships, data analytics, and innovative strategies.
In this episode of Dealership Roundup, Nate Mihalovich, CEO and founder of The Lasso, welcomes Doug Formby, general manager at Toyota Marin in San Rafael, California. Doug, who oversees a dealership selling 250 to 400 cars monthly, shares insights from his journey from a Division One swimmer at UC Santa Barbara to an automotive industry leader.
With over a decade at Toyota corporate and seven years with his current dealer group, Doug’s extensive experience in corporate etiquette and data analytics has been instrumental in his role. He emphasizes the importance of building partnerships with factory reps and leveraging data to manage inventory, predict market trends, and optimize dealership performance.
Doug highlights his achievements in ramping up the used car operations at his dealership during the COVID-19 pandemic, increasing monthly sales from 75-80 to 200. He discusses the strategies employed, including acquiring used cars from auctions, local sellers, and online tools like The Lasso and CarGurus, and creating an incentive program for his team.
Doug also shares his thoughts on opportunities for innovation in the automotive industry, stressing the importance of understanding new vehicle inventory management and optimizing manufacturer systems. His story underscores the power of hard work, discipline, and data-driven decision-making in achieving success in the automotive industry.
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