Following the road to profit, the need for total focus in the used vehicle department

Following the road to profit, the need for total focus in the used vehicle department

Category - automotive

You may have noticed that a lot of the big groups are buying used vehicle superstores, their not foolish.They know that Manufactures hold the key to profitability on new cars through PCP deals, incentives and consumer offers and that real profit, deal by deal is not that easy to come by unless the team are highly skilled at up selling and that the department hits the numbers to trigger bonus etc.

However with the used vehicle, whilst everyone is pricing to market, profit can still be drawn from exceptional stock management and robust stock policies. In fact this where we get the chance to show our true entrepreneur-ism, by really deep diving into all the key drivers that give us an exceptional return on used car profit.

The likes of the super groups know that their future potential profit lies in their ability to maximise their used vehicle operations. Hence the amalgamation of super groups and supermarket sites, space being the premium for ensuring a better return on investment. Space is one thing, but driving stock turn is the focus.

Here at Get the Edge, we have been working in the used vehicle market, car, van and truck many years and have created the first Used Vehicle Management Accreditation, quality assured by the IMI. We have dissected line by line the key components that exceptional used vehicle operators ensure happen in their business day by day, taking this information into our two day training programme.

We genuinely believe that now is the time for an effective used car manager to step forward in the business and grab one of the last remaining genuine profit opportunities, the following are some of the content we use to improve results:

The only 4 components that influence website behaviours

The 3 time drivers of stock turn and how to improve them for better results

The keys to breaking down a silo mentality in the business in relation to used vehicles.

The language pathways that convert incoming calls to appointments

12 key profit retention strategies

The 2 powerful stock matrix’s that unlock profit and stock turn

Margin enhancement strategies

The 6 key F&I Elements that drive sales and profits

Planning the optimum performing business

Marketing strategies that drive real results in 2018

How to sell more used vehicles right now, today, more profitably

Glass’s guide recently reported that the used car market is starting to reach the long-predicted tipping point into oversupply, with values coming under pressure as a result. They expect this trend, fueled by the large number of one to three year old returns from the ongoing boom in new car PCP’s, to continue throughout the rest of this year and into 2018.

We believe that those dealers who are truly able to understand the dynamics of this new market place, the impact it will have on their business and how to adapt their stock management and sales approach, will not only survive but thrive in this new environment.

Highly successful dealers always have one thing in common, they understand Used Cars. Indeed, to have any chance of making a satisfactory profit in the retail motor industry you must have a successful used car operation pumping profit on to your bottom line, day in day out.

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