Free E-Book Available for Download
Broomfield, Colo., Feb. 21, 2017 – DealersLink works with hundreds of dealerships across the country and knows that time is of the essence when it comes to preparing units to list for sale. Every day a fresh unit sits on a dealer’s lot, not available for sale, it is costing them front-end gross and reducing average turn time.
To assist dealers with improving profits by getting vehicles to the “digital front line” quicker and thus exposing them to a broad online audience of potential buyers, DealersLink offers the following tips:
Reduce reconditioning time by sourcing “clean inventory”
The average auction vehicle takes six days to get lot-ready, which costs an average of $50 per day or $300 per unit. A significant way dealers can mitigate reconditioning costs is by sourcing “clean upstream inventory” – inventory that is already sitting on a dealership lot being offered for retail sale. Most aged retail inventory has been previously reconditioned and is typically ready for the digital front line in less than two days.
Buy the right inventory at the right price
First, dealers should know exactly what profit they can make on each unit before they buy it. Dealers should leverage their dealership’s analytical data to optimize their inventory mix for the local retail market. Then they can stock the right units and price them correctly to be competitive in their markets.
Adopt a market-based pricing strategy
Buyers can now go online and research exactly what vehicles they want, how many units are available in the area, and what price they should pay. To stay competitive, dealerships should begin vividly marketing their retail units online with market-based pricing on vehicles. This will generate more views of their inventory, thus improving the chances of selling units quickly at the maximum profit their market will allow.
“We have the data that shows what’s working and not working when it comes to selling inventory,” said Mike Goicoechea, CEO of DealersLink. “If implemented correctly, these and other tips we have will get cars to the digital front line quickly while saving dealerships thousands of dollars per month and significantly increasing front-end gross.”
DealersLink has compiled a new free e-book titled “Six Steps for Dealers to Get Their Cars to the Digital Front Line.” To download the e-book,” visit http://bit.ly/2lotFoS.
DealersLink is a state-of-the-art industry-leading authority on automotive systems integration and networking technology. Founded in the late 1990s by a team of auto dealers, DealersLink established the first dealer-to-dealer marketplace in the United States, and coined the term “dealer-to-dealer.” DealersLink has been eliminating auction and transaction fees for more than 10 years with over $1 billion in used inventory available 24/7. Members use the marketplace and live dealer auction daily to stock their lots with clean reconditioned units, locate hard-to-find vehicles for their customers, sell inventory without incurring wholesale losses, arrange book-for-book trades, and manage their inventory with industry-leading analytic tools. For more information, visit www.dealerslink.com.
Author: Digital Dealer
Digital Dealer exists to help dealers and their managers sell more vehicles more profitably by creating the best live events and media in the industry.