I believe that anything beyond 3 days to market is costing the dealership sales and profits. I would like to hear what some of the luxury lines consider acceptable.
Days To Market
- Thread starter ddavis
- Start date
How do you define days to market? Pictures and Price? Having said that, I do not disagree with you in the least; however, there are a few factors that impact your assumption:
1. Those poor guys who do all the subprime.
2. Your relationship with fixed ops.
3. The processes fixed ops has in place.
1. Those poor guys who do all the subprime.
2. Your relationship with fixed ops.
3. The processes fixed ops has in place.
My GM is a fixed ops guy. A vehicle is to market when it is online with pictures, a price and a description.
- Sep 30, 2010
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- Bill
How about "same day to market"? I buy most of my used car inventory online through Manheim Simulcast or O.V.E. While the pictures that the auctions post are not the best, I feel that they are better than no pics at all. I started a process where I download the auctions pictures, write the vehicle description, and post it online days before the car actually arrives. The fact that the car is not physically instock yet is disclosed in the description. This way I do not have several vehicles listed on my site, AutoTrader or Cars without pictures. I firmly believe in the saying "no pic = no click" We have actually received email and phone leads from customers who want to be notified when the car actually hits the ground.
We also use the info on the auctions condition report to preorder whatever parts we know that the car will need. For example if the car has mismatched tires, or tires that will not pass VA state inspection we order them and have them here before the car arrives. My service technicians love it since they dont have to pull the car on the rack several times waiting for parts. Once the car arrives the parts are delivered to the tech to install. There willalways be times when we miss something or there is an item that we can't tell the car will need until it gets there. But this planning in advance has really helped speed up my days to market once the car arrives.
Here is an example of a car we just bought this week that is not here yet: Richmond, VA 2009 Volkswagen Jetta S Used Sedan Midlothian, VA Short Pump, VA Haley Certified
Thoughts from the forum, good idea? Bad idea? Anything I could do differently?
We also use the info on the auctions condition report to preorder whatever parts we know that the car will need. For example if the car has mismatched tires, or tires that will not pass VA state inspection we order them and have them here before the car arrives. My service technicians love it since they dont have to pull the car on the rack several times waiting for parts. Once the car arrives the parts are delivered to the tech to install. There willalways be times when we miss something or there is an item that we can't tell the car will need until it gets there. But this planning in advance has really helped speed up my days to market once the car arrives.
Here is an example of a car we just bought this week that is not here yet: Richmond, VA 2009 Volkswagen Jetta S Used Sedan Midlothian, VA Short Pump, VA Haley Certified
Thoughts from the forum, good idea? Bad idea? Anything I could do differently?
- May 1, 2005
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- Jeff
Bill, this is a best practice I would perform when I was behind that desk at the dealership and one I encourage dealers that have a used car manager / buyer that's "in the know" to get onboard with.
I would turn some inventory quick with this process. It also allows you to structure the deal accordingly.
Anytime you can merchandise and quickly get your inventory in front of consumers there's going to be a payoff.
I would add an image inline of the vehicle photos with your direct contact information. Too often when a sales person gets these calls and leads, they screw'm up. This can be helped if you have a process for getting the details of the vehicles you've purchased out to your sales team. I did this with a copy and paste of the vehicle description into an email and sent to all sales staff.
This practice can apply to new cars as well.
my Nissan dealer receives nice advantage with listing inbound inventory. But be sure to spell this out some where in your merchandising. It can tend to upset the "walk-in" customer from time to time.
Great Idea! I think I'd consider adding an asking price as well. I know, I know, it hasn't been thru recon and you don't really know what the shop is going to hit you for... BUT, I'd contend that you already know how the market is pricing this car and that's what matters.
No Price = No Click every bit as much as No Pic = No Click
Nice work Bill!
Bill, this is a best practice I would perform when I was behind that desk at the dealership and one I encourage dealers that have a used car manager / buyer that's "in the know" to get onboard with.
I would turn some inventory quick with this process. It also allows you to structure the deal accordingly.
Anytime you can merchandise and quickly get your inventory in front of consumers there's going to be a payoff.
I would add an image inline of the vehicle photos with your direct contact information. Too often when a sales person gets these calls and leads, they screw'm up. This can be helped if you have a process for getting the details of the vehicles you've purchased out to your sales team. I did this with a copy and paste of the vehicle description into an email and sent to all sales staff.
This practice can apply to new cars as well.
Jeff, Nissan would send those advance shippers and I would type the information into a spreadsheet and shoot it up to the backend tool. I had a library of pictures and descriptions to finish it off.
With inventory so light, I'm doing the same at my new stores. It is a bit more time consuming and I haven't built the library.
My shop doesn't seem to have any sense of urgency getting my CPO cars ready.
- Sep 30, 2010
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- Bill
Ed, I do price the car also online before the car arrives. We estimate our recon costs using the information on the condition report. So we know what we should expect to have in the car by the time it hits the lot. There are surprises sometimes, but I contend the car is worth what is it worth on the retail market regardless of what we spend in the shop.
Jeff, great suggestion to post my picture as the buyer with the contact info. Who better to explain the car to a customer than the person who bought it, right? Great idea
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- Apr 7, 2009
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sidebar.
Hey Bill, this is the business model for cityauto.com. 2 stores, 1,200 used units owned and sold by 67 different owners all operating under the City Auto roof.
No one is more knowledgeable than the pro who's got his own $$$ in it! I'm Glad I don't have to compete with that operation!
I should have know better than to ever doubt you Bill! (I also should have checked more than the one Jetta).
I'm loving your process!
