Ourisman Lexus of Rockville adopted Stockwave to enhance inventory management, replacing guesswork with data-driven insights for smarter purchasing. Stockwave's real-time market data has significantly saved the dealership time and money, allowing for more informed decisions, according to Used Car Director Craig White. This has notably increased their regional and national dealership rankings.
A lot can go wrong at the auction. Even the best laid auction sourcing plans can go wrong in an instant when your not prepared. This will leave you using the “hope and pray” strategy and shooting from the hip for what you think are winners.
Learn auction sourcing the right way with date driven decisions, so you don’t just look for the cars, you look for the money. Data refining is the new oil in the car business.
The more data the better. When you have all the keys factors like, days supply, scarcity index and average retail book at your finger tips in a single glance, you can make split second decisions even if you do get distracted.
Relying on date instead of gut instinct will have you buying only the winners, enabling you to spend more time marketing your vehicles to increase your inventory turn and profitability.
“We’ve got a stimulus check, we’ve got tax time, we’ve got a lot of cash in the pocket, so that tends to change what kind of used cars are selling…
In today’s online buying platform at auctions across the country, the most proficient buyers at auction all rely on data to make correct buying decisions. Have you ever wondered why…
If you are depending on MMR to guide you to buying decisions without understanding how the other market indicators actually work, you are a speculator not an investor.
This should serve as a reminder to all of us that, intentional or not, dealers have all proven that you can do more with less and when it’s done right, it means really good things for the bottom line of your department and the dealership. You should never revert back to the stock more sell more strategy.
With New vehicle inventories waning across the U.S., more shoppers are turning to used cars, leading to record-high auction prices as dealers scramble to replenish their used car inventory. The…