With the unprecedented new stock shortages currently being endured by the automotive industry, now, more than ever, dealers are seeking alternative ways to drive revenue.
Much focus is being placed on the pre-owned market and capitalising on this sector of the business, however, the ongoing challenge is finding an efficient and effective method of driving used car stock levels up to a point where they can sufficiently sustain the dealership
For years we have seen dealers spending hours trawling through multiple classifieds in search of stock for their yards, and have been keen to find a solution that improves dealership efficiency and helps them to both buy and sell more cars.
Finally, we are proud to announce the launch of a range of tools set to improve the way Used Car Departments manage their stock. Delivered in the form of a plugin to our multi-faceted marketing and lead attribution platform, ALICE, these tools offer a range of efficient solutions for building used car inventory and increasing profitability.
On average, dealers utilising this technology have seen a 300% jump in the number of pre-owned vehicles they are buying and selling
ALICE’s new plugin includes tools for sourcing and pricing pre-owned vehicles as well as recapturing former customers who have listed their vehicles online. By utilising this technology dealerships will be able to save time spent searching through multiple platforms and listings in search of used stock, while also ensuring they are pricing vehicles competitively against the market.
The new Vehicle Sourcing Tool delivers a single, real-time view of all current online vehicle listings on all of the major classified sites. The system allows users to filter and search to find the exact cars they are after, whilst also providing unlimited hot-lists and notification features so they will never miss a good deal as it is listed.
ALICE’s easy-to-use Vehicle Pricing Tool provides accurate and real-time values of vehicles listed for sale online. The data and market insights it provides enable dealers to price their own vehicles for trade-in and sale, ensuring they sit competitively against the rest of the market. This in turn allows them to win deals over their competitors and maximise their own profit.
The Customer Recapture Tool serves two purposes. Firstly it acts as an additional means of sourcing pre-owned vehicles. By periodically uploading a database into ALICE, dealers will be alerted when one of their former customers has listed their vehicle online for resale, and can contact them immediately to discuss buying back their car.
Secondly, it can drive retention – an area where many dealers struggle. Given the already established relationship with their former customer, upon repurchasing the pre-owned vehicle, the dealership is well-positioned to initiate discussions about a new vehicle purchase
“But how effective can these tools really be?” you might ask. Data shows that dealers using these Pre-Owned Vehicle Tools are reporting as much as a 300 percent increase in the number of cars they are buying and selling. There aren’t many dealers who wouldn’t be keen to see those type of results in their Used Car Departments at the moment.