As profit margins are expected to narrow on used car sales in the coming months, now is the time for dealers to focus on their pre-owned inventory.
Carla Wade, Director of Sales Development, shares how dealers can act now to maximize their pre-owned sales profitability and reaccelerate their recovery efforts.
To view more pre-owned tips and resources, click here.
Explore our cheat sheet to help your dealership improve its pre-owned vehicle acquisitions in the service drive. View the checklist.
Looking specifically at pre-owned, the average retail selling price of pre-owned vehicles by new car dealerships has increased by 11% compared to 2020.
Find checklists for each of your dealership's departments to help with your pre-owned acquisition efforts.
Forecasts from IHS Markit estimate 1.3 million fewer light vehicles were produced in the first quarter of 2021 due to chip shortages and other external influences.
For auto dealers, the ongoing chip shortages have resulted in historically low new vehicle inventories, as well as contributed to sky-high auction prices for pre-owned models.
1:03:39Hear insights from real dealer leaders on how to acquire more pre-owned cars for your dealership. Check out our recording from the Crack The Code on Pre-Owned Inventory Acquisition virtual workshop.
53:58Hear directly from our dealer partners on how Market EyeQ enables their dealership to build, maintain and sustain a healthy pre-owned inventory.
Discover how to monetize your customer portfolio using data driven strategies for pre-owned acquisitions and portfolio management.
Chip shortages are expected to impact the auto industry until at least 2022. Explore how your dealership can approach its pre-owned vehicle acquisition strategy to set your dealership up for success.
According to IHS Markit, an estimated 1.3 million fewer light vehicles were produced in the first quarter of 2021 because of semiconductor shortages, historically low new vehicle inventories.
Wondering whether your dealership should recondition and retail a vehicle or take it to auction? Explore our 4 tips to help you evaluate your dealership's trade-ins to maximize your profitability.
Dealers have seen their business model suddenly shift to being predominantly pre-owned, to the point where IHS Markit research found that in May 2020, there were 3 used vehicles sold for ever new one.
56:26Watch this NADA fireside chat as experts from Mastermind & CARFAX discuss driving service revenue, growing acquisition opportunities & maintaining a homegrown pre-owned inventory to boost profits.
1:23Dealers are selling 39% more used cars than they were 10 years ago and the average transaction price is up 21% but the profits are not keeping pace. Carla shares 3 easy ways to grow pre-owned profits.
Explore how dealerships can proactively identify and engage high-quality prospective auto sales leads with low-touch automated dealership marketing.
56:40In this National Automobile Dealers Association (NADA) hosted webinar, Mastermind Dealer Relations Managers Pete Margaros and Andrew Menditch share pre-owned inventory management tactics and more.
How many sales teams does your dealership have? If your answer is more than one, you may be missing valuable opportunities related to uniting your used and new car sales teams.
58:42Mastermind Senior Dealer Relations Manager Pete Margaros discusses how dealers can apply the best practices and tools that have revolutionized new car marketing and sales to pre-owned auto sales.
1:21Carla Wade, Director of Sales Development, shares how auto dealerships can utilize predictive analytics and data-powered marketing campaigns to take advantage of the pre-owned vehicle surge.
Improving pre-owned car sales profitability means figuring out not only how to sell more used cars, but also how to improve your average profit on the cars you sell.
