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Auto Dealers Moving Forward: How to Manage Used Inventory
2013-01-08 18:33:30| AutomotiveDigest.com - Automotive Industry News
Cleaning up aged inventory can be a painful lesson, so its important to learn from your experience. Here are some tips to assist auto dealers in building a process for managing used inventory in the future. Perform a whole-lot inventory analysis. Assess the value of every vehicle on your lot so you can determine the right mix of core and non-core inventory. Use this information to determine optimal turn cycles as well as the right time to buy and sell inventory. It can also help you price competitively for your market. Have an exit strategy for every car that you acquire. Source vehicles so you can retail them; dont let their wholesale price determine your pricing strategy. Instead, take into consideration whether that vehicle is appropriate for your market does it have the right equipment, features and options? If you live in the mountains and youre looking at a convertible, can you really turn it in 60 days or less? Reset the way you look at used cars. Unlike good wine, used cars on your lot dont get any better with age. Approach every used car acquisition with an eye to move it quickly. Continue reading for more tips from the experts at AutoTrader.com. The Article Auto Dealers Moving Forward: How to Manage Used Inventory appeared first on AIN Media.
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