Hint: It involves implementing a digital retailing strategy with messaging woven into it. And we’ve got a guide to help you make it work. SEE HOW
Are your sales representatives skipping right past that 112 days in stock vehicle like it’s the plague?
05 BMW 335i - days in stock 93
06 Toyota Sequoia - days in stock 123
03 Jaguar X-Type - days in stock 154
07 Ford Explorer Eddie Bauer - days in stock 112
Why are these cars sticking around?
I can’t tell you how many times I have seen sales professionals tiptoeing around a vehicle ONLY due to the perception that the vehicle was priced too high or for some reason or another felt as if the vehicle was not worthy of being on the front line.
Where do they come up with these conclusions?
I’ve seen it arise from something as simple as 1 or more potential customers telling the sales representative “you’re asking too much for this car” or “wow, I thought this car would have been equipped better”. Many sales people, after hearing this more than once, actually start to believe it’s true.
The car is just sitting there, it’s not being demonstrated nor test driven and now the sales team seems to be avoiding this vehicle like it’s the plague. Before you know it, that same vehicle is 112 days in stock, sucking up your floor plan and messing with your churn rate.
The problem; your sales team is not SOLD on this vehicle. You, as a sales manager have not SOLD the vehicle to who you need to FIRST. If your sales department is not SOLD on the vehicles you have in stock, how do you ever expect them to have the confidence and enthusiasm it takes to sell a car to a customer while also retaining gross?
Before you can sell that used car, it’s imperative you SELL that used car to your sales team first.
1. Be transparent with your sales staff on the price of your inventory. Explain and include them in on the pricing. Show them how it compares to like models in the retail market and/or competition.
2. Build value in your inventory with your sales staff. Review the CarFax, any history reports or stories that go along with each vehicle. Review the options and specifications that make this vehicle worth the asking price.
3. DEMONSTRATE the vehicle to your staff. Do a detailed walk-around while explaining the feature and benefits just as your sales staff would do with a potential customer.
Get your sales team on board and educate them on the inventory. You’ll be surprised by the lack of knowledge and information your sales team has on each used vehicle you have in stock.
I recommend doing this as soon as the vehicles comes out of the reconditioning department OR better yet, have a morning inventory walk with your sales team reviewing the fresh inventory.
Before you sell that used car, SELL that used car.
Side note: If your used car sales manager is too lazy to do this, get it done yourself!
Another side note: If you have a days in stock issue, well then you have a whole ‘nother issue.