Do You Know Where Your Store is Positioned in Your Market?  

by | Nov 6, 2023 | Inventory Management, Marketplace, Merchandising, Used Car | 0 comments

Knowing where you stand in your market can be the key to success. While monitoring market day supply is crucial, it’s only part of the equation. To truly excel in this fierce industry, you need to know exactly where your dealership is positioned within your market. Once you can identify the fastest-moving, highest-grossing vehicles for your store or group you can thrive in any market condition. 

Going Beyond Market Day Supply 

Market day supply, while an important metric, often provides an incomplete picture of your dealership’s performance. It tells you how a vehicle is doing in your local market but not how well specific vehicles are performing at your store. To make informed stocking decisions and maximize profits, you need to dig deeper into your historic DMS Data and see exactly what vehicles and trim levels make up your top 10 fastest-moving and highest-grossing vehicles. 

Unveiling the Highest Grossing Vehicles 

Once you have the historic sales data from your DMS you can pinpoint which exact vehicles and trim levels in your inventory are truly driving your dealership’s profits.  By understanding which vehicles are hot at your store, you can stock up on these models, attract more customers, and boost your bottom line.

Steering Clear of Underperforming Vehicles 

Not all vehicles are created equal, and some may actually be hurting your dealership’s profitability. Historic DMS sales data will also unveil your slowest moving lowest-grossing vehicles helping you identify which vehicles to stay away from, preventing you from making costly mistakes. With this tool, you can stop investing in vehicles that aren’t delivering the returns you need, ultimately saving you time and money. 

Gaining a Competitive Edge 

Knowing your market is not a luxury; it’s a necessity. DMS Profit Analytics from Dealerslink gives you a significant advantage over competitors who solely rely on market day supply data. In an instant you can see your fastest-moving, highest-grossing vehicles for your store or group as well as the vehicles to avoid. By fine-tuning your inventory based on historic, data-driven insights, you can stay ahead of the curve and consistently outperform others in your market. 

Data is the lifeblood of success, go deeper! Use the tools Dealerslink provides with invaluable information, fine-tune your inventory, make data-driven decisions, and achieve higher profits. 

Don’t let your dealership fall behind. With this game-changing technology at your fingertips, you can elevate your dealership’s performance, attract more customers, and achieve unparalleled success. 

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