Manage Your Used Vehicle Inventory to Prevent Aging
If you are in the business of selling used vehicles, it is highly important that keep your inventory up-to-date and Manage Your Used Vehicle Inventory to Prevent Aging. When you let some of your vehicles in you inventory age, it can look bad. The goal is to keep your inventory of used vehicles constantly moving with accepting trade-ins, selling, etc. There are many tips you can follow to not let your used vehicles age.
Tips on How to Prevent Aging in Your Dealer Vehicle Inventory
When it comes to your used inventory, there are many tips and rules you can follow to prevent them from sitting on your lot for too long. When you need to Manage Your Used Vehicle Inventory to Prevent Aging, start with the simple concept of not maintaining a used vehicle for more than 35 days. When you can maintain your used inventory around 25 to 30 days, you can easily turn your inventory 12 to 14 times per year. This is done by promoting urgency as the primary watchword for used vehicle inventory. It is best to get the vehicle in and out as fast as possible.
Once a vehicle reaches 60 days in age, you should transfer ownership of any vehicle to someone else to help establish a hard turn policy. It is also best to take a “trade walk” every morning which allows you to see what vehicles are still on your lot and what is new. Getting the new used vehicles up on your site as soon as possible is also key because the sooner it is visible to customers the faster you will be able to sell it.
Why Used Vehicle Inventory Aging Is Important
When you are turning your inventory over a lot, you are bringing in new vehicles which will spark more interest from customers and increase sales. A lot of people may trade in a vehicle to use that money towards something new and better which makes it easier to get a lot of used vehicles but if you get too many of the same vehicle, it might be difficult to sell them all if they are not as popular as others.
These tips and tricks can help you manage your used inventory perfectly so you can keep turning your inventory. It is highly important you know how to Manage Your Used Vehicle Inventory to Prevent Aging as it can cost you money and sales. We at PGI Auto can help you do this as we offer software to help you keep track of your inventory as well as other products and tools. You can contact us at 877-622-2291 if you have any questions.
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