It has been said that, more than 10% of dealers are holding some sort of private wholesale auction, from pen and paper bid sales to full dealer lane sale auctions. Why? To make more money. Big box auctions have become expensive for both the buyer and the seller and this video helps you understand why?
Even though wholesale managers groan, and say things like, “I’m off to the auction, AGAIN” and “I barely see my family because I travel so much”, in the end wholesale and remarketing managers might actually enjoy going to the auction. Let’s investigate this further. Gut vs Market Metric: Even though it has been proven beyond a [...]
“Transparency” was, and still is, a common buzz word at car dealerships. The idea that, if you show the facts to your retail customers they will respond favorably towards your dealership and ultimately buy from you. It has been proven that customer loyalty is directly related to the honest treatment provided by your dealership. I personally [...]
Winter... the new spring market The spring market can represent as much as 50% of an independent used car dealer's business for the year. Why? Because it's the time that consumers receive tax returns which help with down payments. For many dealers, they kick in their marketing and stockpiling for the spring market too late, assuming that [...]
Smart Phones: The Tool of Choice for Used Car Wholesale Managers AuctionSimplified.com reciently concluded a two-month study on wholesale buyers, determining whether or not they are using smart phones or desktops to browse their sites. They found that used car sourcing managers show a particularly strong connection to their mobile devices. In fact, 62% of their buyers are using [...]
Dealers ship their cars off to auction only to find that 50% go unsold. We even have a special name for this; it's called a “No Sale” or NS for short. So what’s next for that "No Sale" car? Run it again? Ship it off to another auction at additional expense? Wait until tax season and [...]