Simple Strategy – Keep track of demand

Demand of particular used car models is very easily determined. No, not on your lot, that’s not a microcosm of the market, that’s happenstance based on your used inventory.  Don’t be fooled by this kind of evidence that is so restricted by your particular offerings.

One great source is Auto Count, an Experian Company.  I suggest you take a 25 mile radius around your dealership and query the last 4 month’s registration of used cars models and years.  Sort them from most to least.  You now have a road map for which cars to seek out at auction.

Once you have more of the cars that are in high demand based on actual data, you will incrementally increase your used car sales, regardless of all the other factors – price, processes, salesmen who can’t give a straight answer to a customer’s questions and all of the other things that you might do to discourage sales.  It’s fundamental.  Have more models people are seeking and you’ll have more opportunities for sales.

I don’t work for Experian, but I find Auto Count to be indispensable in all market essential measurements.   You may also use the ‘Star report’ that is part of Cars.com’s service.  It only lists the top models in demand and the ones with the shortest supply, but even though it’s not as comprehensive and doesn’t allow you to determine mile radius, it’s still better than working from ‘feel’.

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About dealerite/in association with AP Level 4

National affiliations of professionals who are engaged in changing the culture of the automobile retail business. Associated with AP Level 4 and Edifice Group. These companies are bringing sustainable marketing which has proven quantifiable improvements in a dealer's market share performance
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