Used Car Inventory Basics
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Used Car Inventory Basics

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Optimal used car inventory provides a competitive advantage. Dealers should use a combination of tactics for greatest results.

Optimal used car inventory provides a competitive advantage. Dealers should use a combination of tactics for greatest results.

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Used Car Inventory Basics Used Car Inventory Basics Presentation Transcript

  • Used Car Inventory Basics
    December 22, 2010
  • Optimal Inventory Levels
    Optimal inventory levels are critical in any retail business and the used car industry is no different.
    Used vehicle inventory management, however, is not without its challenges.
    Although new car sales have recently started to improve, lower sales over the last couple years, an uncertain national economy and price-conscious consumers have changed the dynamics of finding and maintaining used car inventory.
    Used cars sales managers have a variety of options to locate the best inventory in this competitive market.
    Put a combination of tactics to work for you.
  • Shop Locally
    As soon as a car or truck leaves your lot, there should be another ready to take its place.
    Where did that buyer find you?
    Was it through your print or online advertising?
    Were they drawn in by your inventory display and signage?
    Those are also important places for you to visit to help restock your used car inventory.
    As long as newspapers and magazines are printed, there will be used car listings available.
    Widen your search by scanning classified ads in papers from neighboring cities or states.
  • Shop Auto Auctions
    Previously, consumer lease returns, fleet and rental cars, and new car trade-ins have provided a steady supply of pre-owned vehicles to recycle on the dealer’s used car lots. This changed a few years ago with the economy; making used car inventory harder to find. Fortunately, auto auctions are easily found.
    Some auto auctions specialize in specific types of vehicles, such as repossessions, government or police seizures. Others may specialize in vehicles abandoned at impound lots or charity donation. Some even post their pre-auction inventory online or promote dealer only sales. Make note of the auto auctions in your local area and shop them regularly. You never know when just the right car or truck for a customer will come along.
     
  • Shop Online
    Over the last couple years as the competition increased for late model used cars and trucks more dealers and remarketers are using the Internet to expand their trading zone.
    They are purchasing premium inventory from auto auctions thousands of miles outside their normal trading radius. West Coast, Arizona and Nevada auto auctions, in particular, have become especially attractive to Midwest and Texas dealers looking for well-equipped late model vehicles, as well as hybrid SUVs and crossovers now entering the used car market for the first time.
  • A New Generation
    Once a used car sales manager purchases vehicles online, they are taking advantage of progressive auto transport companies who are making it easier to transport cars cross country.
    A new generation of car haulers are using the power and speed of the Internet to make transporting vehicles from auto auction easier and more economical than ever before.
    By offering a mix of speedy truck and economical rail service options, the best auto transport companies can quickly and economically move vehicles wherever they need to go.
    Dealers can also receive instant 24/7 online price quotes and estimated transit time for door-to-door pickup and delivery anywhere in the country.
  • Maintaining Optimal Levels
    Maintaining optimal inventory levels of quality, affordable late-model cars and trucks can be challenging. Sales can suffer without the right cars on the lot.
    Shop local, visit auto auctions and use the Internet to secure and maintain optimal levels for your used car inventory.
  • About
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