Is your dealership up to speed?
Before you can start improving your dealership’s performance, you need to know how you stack up. This quick assessment will tell you how your used car operations rank compared to leading dealerships, and what steps you can take to shift into high gear.
Fill out the form to start the assessment
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Based on your assessment, your used car department is in:
5th Gear
Dealerships in fifth gear are among the highest-performing we’ve surveyed. They know how to build an inventory based on the vehicles and options their market wants. Their prices and online listings are optimized to drive clicks, sales and profits. If you’re in fifth gear, congratulations! Remember, though, that the used car market moves fast. To continue to prosper despite shrinking margins, you need to take advantage of every efficiency and opportunity.
Fifth gear indicates industry-leading performance … while reverse means you’re headed in the wrong direction.
Based on your assessment, your used car department is in:
4th Gear
Dealerships in fourth gear are doing a good job of managing and optimizing inventory for their market. Their online listings are complete and accurate. They have a set vehicle acquisition strategy in place. Plus, they work hard to stock the cars and options their market wants, and price them competitively. Still, incomplete data and inefficient operations may be holding these dealerships back. If you’re in fourth gear, remember that complacency is problematic. To get ahead and stay ahead in the used car market, you need to grab every competitive advantage you can.
Fifth gear indicates industry-leading performance … while reverse means you’re headed in the wrong direction.
Based on your assessment, your used car department is in:
3rd Gear
Dealerships in third gear have a plan for managing inventory, but their execution is often hit-or-miss. They try to find the most in-demand vehicles for their market and price them competitively, but sometimes they still bring on units that don’t reflect what their market wants right now. Even though they list their used vehicle inventory where online shoppers can find it, gaps or inaccuracies still hold them back. If you’re in third gear, it’s time to pull ahead of the pack. In today’s market, average isn’t good enough!
Fifth gear indicates industry-leading performance … while reverse means you’re headed in the wrong direction.
Based on your assessment, your used car department is in:
2nd Gear
Dealerships in second gear have room for improvement. They try to optimize how they list and price based on the market, but don’t always do so consistently. They haven’t yet created a clearly defined vehicle acquisition strategy, and aging inventory is a persistent problem. While they try to appraise, buy and price based on market demand, they often settle for what they can get. If you’re in second gear, there’s work to be done. The good news? A few key operational adjustments will take your dealership’s used car inventory management strategy up a notch.
Fifth gear indicates industry-leading performance … while reverse means you’re headed in the wrong direction.
Based on your assessment, your used car department is in:
1st Gear
It’s time for dealerships in first gear to kick it up a notch. Dealerships in this category know market demand is important, but it doesn’t heavily factor into how they appraise, stock or price. Even if they list and price their used vehicle inventory online, there’s probably a faster, more efficient way to do so, given the prevalence of inaccurate or incomplete listings. There’s more aged inventory than they’d like, and wholesaling vehicles that won’t sell is a common practice. If you’re in first gear, you have plenty of work to do — but also plenty of room for growth.
Fifth gear indicates industry-leading performance … while reverse means you’re headed in the wrong direction.
Based on your assessment, your used car department is in:
Reverse
Dealerships in reverse have plenty of room for improvement … but everyone has to start somewhere! Dealerships in this category don’t follow a clearly defined, data-focused vehicle acquisition strategy. They appraise, buy and price vehicles without fully considering what their market wants. Their online listings are incomplete or nonexistent, which contributes to aging inventory and wholesale losses on inventory that didn’t sell. If you’re in reverse, you could benefit from a stronger used car inventory management strategy — and with a few simple changes, you can start seeing big results.
Fifth gear indicates industry-leading performance … while reverse means you’re headed in the wrong direction.
Your Performance Analysis
Below, you’ll find the most important factors shaping your used car department’s performance.
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