Ken Lohr: Maximizing Retail Warranty Reimbursement and Profits in the Automotive Industry

Ken Lohr is the director of Retail Warranty Reimbursement at Bellavia Blatt Dealer Law. In this episode he  joins us to discuss the importance of retail warranty claims in the automotive industry.👉 Register for the upcoming Fixed Ops Roundtable EventWhat we discuss in this episode:The automotive industry has been facing numerous challenges in recent years, including rising costs and inflationary forces. With the current state of the industry, it's more important than ever to make sure that dealerships are getting the best value for their money. This is where retail warranty reimbursement comes in.As a dealership owner or fixed operations director, it's crucial to stay ahead of the game and prepare for the challenges that come your way. One of the ways to increase your dealership's gross profit is by filing for retail warranty reimbursement. The good news is that the fee for this process is usually paid by the manufacturer out of the additional gross you receive, so it's essentially "free money".With changes in the industry and inflationary forces affecting the cost of labor, it's crucial for dealerships to take advantage of the opportunities they have to receive retail pricing for warranty claims. Ken takes us through the basics of how dealerships can establish their retail rates for parts and labor and collect the disparity between what the manufacturer is paying and what they charge their retail customers. However, Ken notes that the process is not as simple as it may seem and that various discounts and other factors can affect the outcome.Ken emphasized the importance of preparation in this process. There are many factors that can affect the outcome, such as discounts given to customers, warranty-like repairs done at a discounted rate, and including certain items like brakes and batteries in the warranty. These factors must be accounted for and understood in order to mitigate any negative impact they may have on the outcome.The bottom line is that retail warranty reimbursement is crucial for dealerships looking to maximize their profitability in an industry that is facing a number of challenges. With the help of firms like Bellavia Blatt, dealerships can make sure they're getting the best value for their money. With the expertise of Ken and his firm, dealerships can be sure that they are properly prepared and receive the maximum amount for their warranty claims.Listen to the episode featuring Ken Lohr for even more insights!Enjoying The Fixed Ops Roundtable Podcast? Please leave a rating and review 👇Apple: https://podcasts.apple.com/us/podcast/fixed-ops-roundtable/id1608656237Spotify: https://open.spotify.com/show/15HHYoyvCo1PSFwYn02UXYThanks, Ken LohrConnect with Ted Ings and the Fixed Ops Roundtable:Register for the next Fixed Ops Roundtable EventTed Ings on LinkedInCenter for Performance Improvement