Four years of a depressed new car market have driven most franchised dealers to hone their used car retailing. Now that manufacturers are raising dealer targets and tempting consumers back to the new car market, it is crucial that the franchised networks do not allow the progress achieved in used car practices to falter.
The benefits of a focused stocking policy and the right marketing strategy have been a broader customer base and improved profits for many of the UK’s franchised dealers. This focus may even have contributed to a decline in the independent used car retailer sector.
With the support of expert suppliers to the used car retail sector and the experience of leading dealers, AM has identified the following ways to keep you up to date with the latest developments in used car retailing and to provide insight into ways you can optimise your forecourts and profits.
We hope you find these articles of value, both operationally and strategically.
Building consumer trust
Used car sales are expected to grow further as the economy recovers, but an open, competitive market means franchised dealers will have to offer something special to win sales. In this feature, we examine the latest consumer trends and explore how the dealer can give the customer the confidence to buy.
The used car wholesale market has shown a lot of resilience in 2013 as competition for stock has led to rising prices and strong auction conversion rates. We look at the cars most in demand, and those that could prove too sticky for the forecourt.
Digital marketing channels are the most favoured by dealers for displaying their used car stocks, but experts say that getting the right mix is essential in the cost-effective marketing of cars. Classified websites, search engine optimisation and paid search should all be part of a dealer’s armoury and should be deployed in a measurable way.
Franchised dealers have encroached into the independent traders’ traditional markets during the recession with great effect. Now the independents are equipping themselves to raise their profile and fight back.