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Auction vs. Retail: Adapting to Inventory Challenges in 2021

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There are plenty of deciding factors that make the choice between retail and auction significantly easier – and may inspire you to keep an older model destined for the auction block on the lot. Analyze trade-ins to first spot in-demand make, models and trim packages. Dig into other data from your dealership's CRM and DMS to analyze insights like a vehicle's maintenance history report to better predict reconditioning costs or analyze how many similar vehicles have sold in the past to help determine demand. By leveraging advanced marketing tools to analyze the information locked away in your sales and service departments, dealers can largely automate this process to quickly determine their next steps.

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