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With prices of late model used vehicles at a near all-time high, according to this latest article by Automotive News, one of the greatest challenges for used car managers is acquiring enough inventory to meet the current demand.
I’ve talked to used car managers who are traveling further distances, attending more auctions and paying more than they ever have before. Unfortunately, used car managers don’t have a lot of control in terms of what comes available at auctions and what the market demands they pay for good inventory.
What they do have control over, however, are the processes within the dealership that determine how leads for used cars are handled. Implementing the following best practices in the Internet Sales department may help alleviate some of the pain felt due to current lack of inventory:
What other best practices do you recommend to address the used vehicle inventory shortage?