As the automotive retail industry entered recovery in 2021, new challenges arose. Despite a growing number of buyers returning to the market, chip shortages, weather delays and other global factors again disrupted automotive production, driving already low inventory volumes even lower.
Shortages coupled with consumer demand pushed already rising pre-owned prices to historic highs both at the dealership and at auction, putting the pressure on dealers to find alternative sources to acquire in-demand used vehicles.
With retail acquisitions typically generating less overhead than auction – plus the added opportunity to make a sale – dealers who can identify and engage drivers of in-demand vehicles in their market have a significant advantage over the competition.
By adopting a data-driven strategy for pre-owned acquisitions and portfolio management, dealerships can build, maintain and sustain a healthy and profitable inventory – regardless of what new obstacles lie ahead. Learn how in this exclusive dealership playbook.