Travis Wise from Dealerslink and Will Morris from Pre-owned Auto Logistics, made a recent guest appearance on the renowned ATI Auto Business show. They brought their industry expertise and insights into the pre-owned auto market. With years of experience under their belts, they dive into modern solutions that vehicle dealerships need to know to maximize their inventory.
They discussed the shifting state of the used car industry and how its impacting dealers, buyers, and logistics providers. With changing data in the marketplace, it’s crucial for anyone acquiring inventory to understand what to expect. Likewise, those in logistics will need to adapt their business models to accommodate these changes.
This means delivering inventory to new locations and in larger volumes than ever before. So, regardless of your role in the industry, understanding these shifts is essential.
They also touched on:
- The need to be aware of what’s going on in the market.
- Transportation Logistics needs to be part of that conversation – The logistics piece is overlooked. However, Dealerslink has a tool where you can buy a car and then put that zip code in and just shop all the cars around it to try and build a load.
More info here: Seamless Shipping Through Dealerslink and ACERTUS
- The need for a logistical partner.
- The need for an appraisal process. Have a couple of tools to help with this process. As a car salesman, your chance to add value to the vehicle begins with the online experience. Building a connection with potential customers in an effective manner will lead to increased spending and time spent with you. This involves skillfully devaluing the trade-in without taking advantage, in order to place the vehicle in a profitable spot for your store and the industry as a whole. Remember: the money is made during the buy, so being savvy online is crucial.
- The average turnaround time on a vehicle is only about 17 days, for wholesalers, the timeline is more like 7 – 10 days. Don’t let your vehicle sit on the market for months, turn to our team for a smart and speedy solution.
- Don’t shy away from purchasing a few extra cars. In fact, it’s perfectly fine if you make a mistake or two in the process. It’s a sign that you’re making enough purchases.
Are you resilient? Are you unafraid of the dark? If so, then there’s good news: the wholesale and retail automotive market is full of opportunities waiting to be seized.
But here’s the catch: to succeed in this market, dealers need a change of mindset. No more sitting back and waiting for business to come to them. Instead, it’s time to roll up our sleeves, dig in, and work harder than ever before.
If you own or work at a dealership, don’t miss this! Watch it over your lunch break for valuable insights that can help your business thrive.