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Best Practices for Managing Your Dealership Inventory

When it comes to managing your inventory, there are many different things you can consider to help maintain your goals. When you are in need of help when it comes to your inventory, there are some simple Best Practices For Managing Your Dealership Inventory that you can follow. These easy steps can turn things around or even improve things more even if your inventory was been fine. Here at PGI Auto, we want to help you get the most from your inventory.

Signs That Mark Volatility in Dealership Inventory

There are always tips you can use when it comes to managing your overall inventory as well as signs to look for that could make selling vehicles a little more challenging. One of these signs you should look for is increased supplies of wholesale used vehicles. Leasing volume has been a key driver behind the industry’s year-over-year growth.

Another sign to look for is attractive factory incentives. This is to help factories get to double-digit gains in new vehicle sales. One big sign to look for when it comes to market volatility is rising gas prices. Of course, when gas prices rise, it softens the sales of new large and less fuel-efficient vehicles. The lesson about this is that gas prices can cause some used vehicles to lose appeal with potential buyers as well. When it comes to used vehicles, you never wanting them sitting in your lot for a long period of time.

Tips for Best Practices for Managing Your Dealership Inventory

There are ways you can help align your used vehicle decisions to the current market by following these simple Best Practices For Managing Your Dealership Inventory. The first tip is to recognize retail demand risks. If you monitor the number of search results pages and vehicle detail pages, you can see when rising gas prices shift interests around. Another tip is to always keep your cars fresh. This means keep your used vehicles looking good and on the lot no longer than 30 days. This gives the impression that inventory is moving and sales are looking good. It is always important to keep track of gas prices, demand, and more when it comes to your inventory.

Following these simple Best Practices For Managing Your Dealership Inventory can help keep you where you want to be. We at PGI Auto can help you improve your inventory in multiple ways. We offer many different tools to use to manage your inventory including software, tools, and tips. If you have any questions, you can contact us at 877-622-2291.

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