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.
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.
15:10In this Auto Remarketing podcast, Joe Kacala, Chief Product Officer at automotiveMastermind, chats with senior editor Joe Overby about the latest used-car product launches at Mastermind.
54:58Join Mastermind Senior Dealer Relations Manager Pete Margaros as he shares 3 ways dealers can adapt to new vehicle inventory challenges and increase pre-owned sales profitability.
Learn how to improve dealership profitability by applying the best practices revolutionizing automotive retail and marketing to the challenges of pre-owned sales.
50:53In this Wisco Weekly podcast, Joe Kacala, Chief Product Officer at automotiveMastermind, chats with Dennis Wisco about how he approaches problem solving, and how businesses should “vet” tech partners.
15:00In this podcast, Marco Schnabl, CEO of automotiveMastermind, talks about using predictive analytics to drive showroom traffic and how dealers can navigate new shopping behaviors from consumers.
Pre-owned car buyers' wants and needs are more complex than new car buyers’. Mastermind understands these behaviors and simplifies their decision-making process with personalized marketing campaigns.
1:43Carla Nurse, Director of Sales Development at Mastermind, shares ways dealerships can prepare now for the expected surge of pre-owned vehicles hitting the marketplace. Discover Carla’s tips here.
1:31Erik Hess, Vice President of Business Operations at Mastermind, shares pre-owned and new car sales trends as dealerships begin to reopen across the country.
It may seem counterintuitive to view the post-pandemic marketplace as an “opportunity,” but that’s what it will be for dealers who are prepared to serve customers in the new environment.
One of the many visible impacts that COVID-19 is having on dealerships in the U.S. is the flood of pre-owned, or used, rental cars and other former fleet vehicles hitting the marketplace.
A successful reopening requires dealers to start thinking ahead right now. View our checklist for a comprehensive look at what must be considered when reopening your dealership.
