Best practice is about establishing a series of non-negotiable minimum standard KPIs and actions and activities to create optimal performance.
The Motor Industry best practice performance card provides industry best practice standards to help dealerships measure their performance against the best of the best.
Unlike benchmarks, which tend to be purely financial in nature, subject to the market, and tend to be measures of either good or bad performance, these identified best practice Key Performance Indicators (KPIs) are designed to focus on continual ‘top performance’. They are built to align the operational KPIs of your business with the financial outcome.
In preparing the Motor Industry best practice performance card, we have moved away from the traditional benchmark approach of focusing just on ‘outcomes’. We have gone behind the numbers and provided the best practice operational KPIs, actions, and activities that drive best practice outcomes.
Long-term dealership success is more about establishing the optimal foundational platform. This is where ‘best practice actions and activities’ with a focus on ‘minimum acceptable KPIs’ creates optimal profit performances.
This Motor Industry best practice performance card is not an exhaustive list of all the actions and activities that create dealership success, but it is the starting point on the journey.
If you want to know more about how your dealership compares to industry best practice, feel free to contact KPMG’s Motor Industry Services team (PDF 298KB).