Today’s auto dealer has many options when buying and selling units for their used car inventory. The traditional brick and mortar auto auction has always had many competitors, but in the past several years, who would have foreseen that competition would be coming from the internet.
Once looked upon as confusing and complicated, the internet may be the single largest game-changer when it comes to how dealers move inventory. With the vast number of online companies, dealers now have a virtual and physical buying and selling environment to enhance their business.
Auto auction managers have always worked hard to create and maintain relationships with dealers by offering incentives such as dealer appreciation sales, anniversary sales, and air and transportation assistance, all of which are amenities that make the buying and selling experience very favorable. For example, when buying a certain quantity of vehicles, a dealer may find that he/she is eligible to win a cash prize—sometimes upwards of $10,000 depending on the auction! Physical auctions also go that extra mile when it comes to keeping the dealers satisfied, with such perks as high-end cafeteria’s serving up sumptuous fare during their weekly sales. The physical auctions are doing a good job of keeping up with the trends in technology by offering the addition of online simulcast sales which allow the dealer to be in several places at once, bidding on cars in the lane and online.
Attending a sale at a physical auction while using online simulcast capabilities allows dealers not only make the best use of their time, but to network with auto dealers from in and around the region. If a dealer finds that leaving the dealership every week is too difficult in terms of staffing, the online auto auction experience allows him to continue to search out inventory to stock his used car lots without sacrificing the ability to work with customers in-person to find them that special car.
If your customer is looking for a vehicle you don’t have in stock, you are almost guaranteed to find it online, have transportation arranged and seal the deal with a few clicks. The bottom line is that auto dealers are experiencing the most unique and satisfying selling environment in the history of the used car industry. With the ever-increasing demand for instant satisfaction, today’s auto dealer has a great opportunity to deepen their existing relationships within their community by making them an invaluable resource for everything related to the car buying experience. With the major shift in landscape of dealerships across America, traditional and online auto auctions will continue to be a vital and integral part of the process when dealerships look to add units to their used car inventory. This will help satisfy their customers and improve their bottom line.
Robert Colby has worked in the used car industry for almost five years and has seen many recent changes that have greatly affected how the auto dealer continues doing business. You can contact Robert at [email protected] or 734-365-3635.