If dealership inventory management is your biggest problem, you don’t have many problems. Every retailer in America has to deal with this issue—whether it is selling cars, blue jeans, or pie. Your inventory is the key to your success, and that’s a retail issue not unique to the automotive industry.
Managing inventory has always been more challenging for new car dealerships than most other retail businesses. Except for real estate, vehicles are the most expensive purchases most consumers will ever make—and because so many have to finance a vehicle over a number of years, the decision to buy or lease
With 2016 models already on the horizon, dealers need to reconcile what’s left on their lots with the inventory they hope to acquire in the months to come. Even when the fourth-quarter holiday season is a big sales opportunity for dealers, many fail to execute the digital advertising strategies necessary
Car dealerships very often face plenty of problems when they have to ship cars to customers living in different states or cities. There are many situations when certain models or specifications of cars are only available with you and you have to ship them to another dealer to make a sale.
Cars have always been about men and how they reflect their personality. It’s been about the machismo, the bravado, and the horse power. I can’t remember a single advertisement presenting cars that can be something to be desired by women. Last month Nissan’s executive vice-president Andy Palmer told an industry
The perception of not being able to source hot vehicles for the right money is understandable but wrong. Hot vehicles can be sourced and purchased for the right money all day long, but it requires a different approach and strategy. The first step of the new strategy is to broaden
I want to caution dealers that it is not just about stocking what is hot in the market. I’ve seen dealers get caught up in the market hype and end up sacrificing gross and retail sales by doing so. Do dealers need to be in tune with what appear to
Properly managing inventory is essential to the success of every dealership. It doesn’t matter if you’re in rural West Virginia, suburban San Diego, or the heart of New York City, having the proper inventory is vital to the growth and prosperity or your dealership. Of course, what sells well in
A key component of your dealership’s inventory management strategy is vehicle sourcing. Yet current conditions make sourcing the right mix of vehicles more difficult than in past years. With floor plan sources more restrictive and consumer spending still down, many dealerships just like yours are grappling with reduced funding, fewer