Have we forgotten, or worse, have we failed to teach new sales managers some of the methods in selling aged inventory outside of having to discount the price? The perspective in our industry over the past ten years is that the only way to sell an aged used car is to drop the price until it sells. While it can be an effective strategy; it costs the store gross profit, and is not the only strategy that a sales or inventory manager can use to help sell aged inventory.
Situations like this require managers to step back in time–before the power of the mighty internet–and remember the methods used to move aged inventory without dropping the price. Here are a couple of offline and online tips that I use when trying to move an aged piece of inventory other than dropping the price.
Margin compression is a reality in the market today; however, as a dealer, you can take additional steps to market your vehicle inventory better and maintain more gross. It takes time and effort; nonetheless, in the long run, the gross profits are worth it.
Matt's passion is to provide dealership professionals direction on how to increase unit sales through the use of better marketing and sales tools. Matt's dealership knowledge stems from working inside a thirteen-store dealer group for ten years and knowing what works first hand. He has worked all the variable operations positions at a dealership and ultimately ran multiple stores as the General Manager over the course of 10 years. Matt is well versed in tools of the digital marketing trade including Google Analytics, Google Adwords, SEM, SEO, website optimization, lead generation add-on tools.
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