The biggest challenge facing Australian Motor Dealers in 2022 is Stock Shortages. Due to delayed international new car production and the skyrocketing prices of used cars, gaining stock for your motor dealership has never been harder.
But where there is a will there is a way, in 2022 there are some great ways you can get more vehicle stock for your dealership and escalate your growth. The key to gaining more stock is thinking outside the box.
Here are a few ways Australian Motor Dealers can get more vehicle stock in 2022.
1. Attend Vehicle Auctions
Vehicle Auctions are a quick and easy way to gain more stock for your dealership in 2022. What makes vehicle Auctions so great for Motor Dealers is if you go through and purchase the vehicle you won’t need to wait to get the car. You can drive out and put the vehicle up for sale that day!
One of the biggest benefits of attending vehicle auctions is you may be able to pick some vehicles up at a better price then you normally would. Of course, there is also the risk of bids exceeding the vehicles actual value. Before you attend a vehicle auction you need to conduct the right amount of research and understand vehicle resale prices, or you could risk overpaying.
Some popular Vehicle Auction websites include:
- Manheim Auctions
- Lloyds Auctions Australia
There are many Vehicle Auction locations around Australia or Online, and they do run frequently.
2. Add a Vehicle Valuation Feature to your Dealer Website
Your Dealer Website is the key to success in 2022. Studies show that 95% of Australian Car Buyers visit a dealerships website before attending the yard physically. Trade-ins are always a great way to get more stock but for so long car sellers have had to physically drive their vehicle into multiple dealerships to get an appraisal.
A good way to further increase your chances of receiving more trade-ins is by including a Car Valuation Feature to your dealer website. The benefit of have a car valuation feature is customers can submit information and photos of their car for you to evaluate. They don’t need to drive around from dealership-to-dealership getting the best price. The quicker a customer can get their appraisal the more chance you will have of getting their car as a trade in.
Related Article: Why Many Australian Car Dealer Website Fail to Generate Leads.
3. Join Car Classified Waiting Lists
Car Classifieds are the go-to destination for private car sellers. A great way to gain more stock for your dealership is by joining car classified websites vehicle waiting lists.
Many Car Classifieds like Shop for Cars, have options for motor dealers to bid on private sellers’ cars. The advantage of car classified websites is there is always an abundance of cars for sale. Like Vehicle Auctions, before you begin bidding on cars you MUST conduct the relevant research, or you could risk overpaying.
4. Reach out to past customers
Another creative way to gain more stock is to simply reach out to your past customers. Check in with them, see how they are going and ask them if they are looking to sell any of their vehicles. If a customer has had a good experience buying from your dealership in the past, they may be more enticed to sell their used car back to you. Yes, this may take some time to call each customer directly, but what you can get in return is priceless at times like this.
5. Research Online
The internet is the best tool for Motor Dealers looking to gain more vehicle stock. Research online for different ways you can get more stock. Reach out to private sellers on social media, reach out to auction websites, there are many tools available online that could help you source more vehicle stock. Putting the time and effort into research will undoubtedly assist you in sourcing stock in 2022.
Vehicle Shortages are expected to continue for at least the majority of 2022. However, it is not all doom and gloom for Australian Motor Dealerships. There are alternative ways to source more vehicles at a great price. The 5 tips mentioned above are quick and easy ways your dealership can source more vehicle stock in 2022.
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EasyCars by Jeal is an Australian Motor Industry specific, web-based, dealer management system that automates the daily tasks of running a motor dealership.
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