Dealers get the edge by going digital
The used car market is one of a long list of sectors that have been upended by the internet, and the dealers with the best-run and most profitable operations are those that embrace it. According to CarGurus’ One Voice report, 73.2% of used vehicle retailers have adopted digital strategies to boost their businesses.
Margins under pressure from stock shortages and prep costs
The savage supply and demand issues at play in the used car market have increased pressure on margins, and we’ve talked before about just how hot the competition is for good quality second-hand vehicles. It’s no surprise, then, the research we conducted as part of our One Voice report revealed 43.8% of used car retailers […]
Finding and acquiring used stock in the right condition poses a challenge for UK dealers
It’s absolutely no secret that retailers have turned their attention to the used car market over and above the new car market. After five years of growth and a record-breaking 2016, new car registrations turned on their heels and fell by 5.7% and 6.8% in the successive two years, which steered retailers toward what continues […]
How to identify which customers are ready to buy again
Why existing customers are a good bet Repeat business is a sign that you’re getting things right, regardless of whether you’re selling cars or chocolate, but spotting the opportunity for a next-time vehicle sale is harder than it used to be. Physical interaction with dealerships is falling, and the dealership visit is typically the last […]