If you have an awful lot of pavement showing at your dealership — asphalt that was historically covered in vehicles — you’re not alone. Over the summer of 2021, for example, a Michigan dealership that could normally point to around 1,500 vehicles on hand only had 30 cars in stock.
While the White House and others are working to address supply chain issues across all types of industries, most experts agree we’re in for continued shortages through 2023 at least. Meanwhile, what can you do to improve inventory, drive efficiencies and cost savings and ensure your dealership is prepared for the future?
One way is to become a regular reader of the Kelley Blue Book Inventory Solutions blog. Read on to learn what you can expect from this resource and future posts.
If you’re ready to improve your inventory, find out more about Kelley Blue Book’s Instant Cash Offer today.
Great Tips on Obtaining Inventory
We know inventory acquisition is a huge challenge for dealerships operating in today’s market. But inventory is always a business concern, so what you can learn now may help you safeguard dealership success in the future.
The Kelley Blue Book blog will bring you stories of dealerships that are successful in acquiring inventory and giving you the inside scoop on how they do it. On top of those proven tips and tricks, look for helpful information on acquiring the good quality used inventory you need to drive continued success as well as out-of-the-box tactics you can test in your business.
Have the inventory but want to improve your sales connections with online buyers? Discover more about vehicle listing enhancements on KBB.com and Autotrader.
Insider Info & Industry Stats and Research
Did you know that the average discount across the nation off sticker price as of September 2021 was just 4.3 percent?
Your salespeople may be pushing back if you’ve instituted stricter discount rules as a way to protect profits as inventory gets harder to obtain. They may also be getting pushback from consumers or believe that they’ll be unable to make the sale without discount flexibility. Arming yourself with information about national discount rates helps you assure sales staff that your dealership is in a similar boat as all others.
On the Kelley Blue Book blog, you can expect even more specific insights and research from Cox Automotive to help you guide decision-making and grow your business.
Learn How to Drive Efficiencies in Your Business
Our blog posts won’t all relate directly to inventory, because we know it takes more than just cars on the lot to create a successful dealership. You can also expect tips, tricks, and how-to content aimed at helping you gain more efficiencies in your business to drive productivity, profits, and cost savings.
Tips for Getting More from Tools You’re Already Using
Re-inventing the wheel certainly doesn’t drive efficiencies, which is why we’ll also take a look at common tools dealerships are already using and provide tips and tricks for getting more out of them. Look for insider advice for increasing the functionality of tools you’re already using, reviews, and comparisons to help you make decisions about what tools are right for your dealership. You also get tips and tricks from dealers like you on making the most of existing tools and technology.
Acquisition Strategies and Other Tips for Improving Profit
Finally, we’ll bring you regular data and education about acquisition strategies and other efforts that help you improve profits, even in challenging times. We’re not talking about basics, like selling stock at well above sticker price when you can get away with it, but tips about acquiring stock in a way that lets you price it competitively and consumer-facing tips that help you bring in consumers ready to make an automotive purchase decision.
Come back soon to discover all this information on the Kelley Blue Book Inventory Solutions blog! And if you can’t wait for more information or you’re ready to invest in services to improve performance for your dealership, contact us today.