In his ASOTU CON keynote, Steve Greenfield made a clear case to dealers: the next era of dealership profitability will not be shaped by the average store. It will be shaped by the operators already performing at the far edge of what most people think is possible.
That distinction matters because dealership data is usually presented in averages. Average revenue. Average gross. Average net profit before tax. Average employee count. Average advertising spend. Those numbers are useful, but Greenfield challenged dealers to look deeper.
The real learning, he argued, comes from the outliers.
Why the Top 10% Dealers Matter
Greenfield used NADA data to show that, over the last 50 years, average dealership net profit before tax has stayed in a fairly narrow band. Even through recessions, oil shocks, COVID, inventory shortages, and interest rate swings, the average dealer has historically found a way to remain profitable.
But Greenfield’s point was not that dealers should be satisfied with stability. His point was that AI may create a step-change in dealership economics.
That opportunity gets clearer when dealers stop asking, “What does the average store do?” and start asking, “What do the best stores do differently?”
Top-performing dealers are not just a little better. They create operating leverage. They drive more revenue, hold stronger margins, control costs, and generate dramatically more enterprise value.
Fixed Ops Is Still the Profit Engine
One of the keynote’s most important reminders was the role of fixed operations.
New vehicles may drive a large share of dealership revenue, but fixed ops produces a much larger share of dealership profit. Greenfield noted that parts and service represent a smaller percentage of total revenue, yet contribute more than half of overall dealership profitability.
For dealers, that reinforces a practical point: the service lane is not a support department. It is one of the most important drivers of customer retention, margin, and long-term dealership value.
Where Dealers Should Pay Attention
Greenfield highlighted several areas where dealers may find major upside:
Customer retention and loyalty
Declined service follow-up
Declined F&I product follow-up
Process automation
Labor efficiency
These are not abstract ideas. They are measurable opportunities sitting inside the store right now.
Learning From the Outliers
Greenfield brought the concept to life with examples from elite operators.
He referenced Longo Toyota, where the dealership’s massive scale and customer loyalty have helped create remarkably low customer acquisition costs. He also shared the example of Walser’s Alex, a salesperson who sold more than 60 cars in a month by combining process, technology, team support, and an unusually efficient customer experience.
The lesson was not that every salesperson will become Alex or every store will become Longo Toyota. The lesson was that record breakers expand what the rest of the industry believes is possible.
Dealers do not need to copy everything. They need to identify what is transferable.
AI Should Amplify Strengths, Not Distract the Store
Greenfield’s warning was timely: dealers should not chase every AI tool.
The better question is where AI can improve the metrics that already matter. If labor is one of the largest dealership expenses, then AI should help employees spend less time on repetitive tasks and more time on work that creates revenue, improves customer experience, and strengthens retention.
That could mean better follow-up, cleaner CRM activity, faster accounting workflows, smarter service reminders, or more consistent post-sale F&I conversations.
Three Questions
Greenfield closed with a practical framework dealers can use now:
What are we already good at?
Start with strengths. AI can help amplify what the store already does well.
Where can we become great?
Look for departments or processes where better execution could create meaningful financial lift.
What metric are we trying to move?
Pick a clear metric before buying another tool. The goal is not more technology. The goal is better performance.
The Takeaway
Steve Greenfield’s keynote honored the operators who are already pushing the industry forward while giving every dealer a useful challenge.
Average performance may keep a store alive. Outlier thinking can make it more valuable.
As AI enters the dealership at a faster pace, the winners will not be the dealers who adopt the most tools. They will be the dealers who know their numbers, study the best performers, choose the right problems, and use technology to create measurable gains.
