Auto Trader says it now has 600 dealers using its forecourt management system I-Control with advanced users achieving 13 stock turns per year.
Gideon Hedley, sales controller for Ridgeway Land Rover in Oxford, said. “In just one month’s use, we have increased stock turn from 7.8 to 11 and profits by 55%."
"Some think that stock management is just a question of lowering prices, but we know that’s not true,” he added “It’s a question of intelligent pricing, given each car’s market value at every moment in the sales cycle."
Stock management systems such as I-Control and GlassNet Radar can support dealers in tracking live market movements, prices and stock rotation and burn rate.
“Dealers should always focus their attention on profitability,” says Tim Mariott, trade solutions spokesman at Auto Trader.
“Profits are generated when we price to sell as quickly as possible, with the best margin possible.
"It does not mean lower pricing – it’s about pricing to demand, selecting the right vehicles at the right place in the local area.
"Intelligent forecourt management adds science to the art of car retailing.”
As editor, Tim is responsible for the media content, planning and production of AM's multiple channels (AM print and digital magazines, website, social media and contributing to our events planning). He interviews and writes about as many franchised dealer groups and UK divisions of motor manufacturers as possible, to explore the issues facing UK motor retail and understand what solutions dealers and suppliers are using to overcome these.
Chris - 26/11/2014 20:36
This reads just like an advert. If you need an external company to tell you how to price and when to liquidate stock in order to maximise stock turn maybe the right person isn't being employed by the company?