The key to running a successful Motor Dealership is selling the right vehicles that customers want to buy.
That said, choosing the right cars to sell at your Dealership isn’t easy. You can’t simply just pick a vehicle that you like or that you think a customer will want and think that it is going to sell!
So, How Can Motor Dealerships Choose the Right Cars to Sell?
EasyCars has put together 5 Strategies that your Dealership Can use to choose the right vehicles to sell.
Let’s get into it.
1. Do Market Research
The only way that your dealership is going to choose the right cars to sell is by doing market research. Your dealership needs to identify what cars customers want and what cars customers are currently buying.
Research online and look at the recent sales numbers. See what types of cars are selling and more importantly the price that they are selling for. Once you know what customers want and how much they are paying, try to find ways that your dealership can source those cars to sell at an affordable price to generate a profit.
2. Choose for the Future
A mistake that so many businesses make when it comes to selling products is selling for now and not for the future. Customer preferences constantly change, the vehicles that are popular today won’t be popular in 3 years’ time. As such, your dealership needs to strategically choose vehicles that will be popular now and in the future.
Like we mentioned in the last point, do some research into the automotive industry, and see what cars are planning to be released. Look at model types whether it be 4x4 Utes, SUVs etc. and try to make predictive buying choices on what vehicles may be popular in a years’ time. The benefit of selecting a vehicle that is on the rise is you may be able to source them cheaper than you would once they peak, and interest is high.
3. Diversify your Vehicle Range
What one customer wants will be much different to the next. Another mistake that so many dealerships make is stocking only one vehicle type. Unless you are looking to stick to a niche, stocking the same vehicle type will limit your audience to buyers solely interested in that particular vehicle.
To achieve ongoing success, it is important that your dealership diversifies your vehicle range. When you look at the sales figures, you will see the top 5 vehicles are completely different models, you will see Utes, hatchback s and SUVs. To capture the greatest number of customers it is important that your dealership stocks a variety of different vehicle types to cater for all types of buyers unique needs.
4. Assess Supply Chains
The biggest challenge facing all Motor Dealers around the world in 2023 is Supply Shortages. Another major factor that all dealerships need to take into consideration prior to choosing vehicles to sell is supply options. How will your dealership get your hands on vehicles to sell?
Before selecting a vehicle to sell it is important that you analyse and choose vehicle suppliers that are reliable and will continue to provide consistent vehicles when you need it. The last thing that your dealership wants is to not have any vehicles in stock to sell due to poor supply chain choices.
5. Adapt to Market Changes
Let’s face it, the Australian automotive industry is continuing to change. From vehicle prices to vehicle choices, the industry is rapidly evolving. The only way that your dealership will be able to select the right vehicles to sell is by constantly adapting to any new industry changes.
To select the right vehicles to buy and sell it is important that you research what is currently happening in the industry, what customers currently want and how you can go about sourcing those vehicles to sell. Whenever there is a change in the industry, be quick to adapt!
Adapting to market changes will give your dealership the best opportunity to choose the right vehicles to sell for a profit!
To succeed in the Australian Automotive Industry your dealership needs to sell vehicles that customers want to buy at an affordable price. The 5 tips presented are a few ways your dealership can choose the right vehicles to sell in 2023.
We hope you enjoyed reading this article. To read more articles like this, please visit the EasyCars latest news page here.
EasyCars by Jeal is an Australian, web-based, dealer management system that automates the buying and selling of motor vehicles. Using the latest technologies, EasyCars removes frustrations experienced at the dealership and opens your doors for greater growth.
EasyCars features include Simple Stock Management, Automated Advertising, Integrated Accounting, Government Compliance, Business Reporting, Facebook Automotive Inventory Ads, Reviews Management, Dealership Websites and more.
To learn more about EasyCars Dealer Management System or to arrange a no-obligation free demo, contact us today on 1300 473 744 or submit the form below.