The importance of used vehicles has likely never been higher. Positioning yourself to capitalize on the opportunity, reach new customers, and make the most of your ever-changing inventory is critical to thrive in this market. That means speeding up the process of getting vehicles out on the front lines without sacrificing efficiency and quality.
Time is Money
A quality selection of used vehicles is a surefire way to attract new and returning customers to your dealership. But, if you have vehicles sitting too long in the reconditioning process, you’re losing money and opportunity.
In an environment where inventory doesn’t sit long, every day matters. Consider this: you and your competitor buy similar vehicles on the same day. If you both sell the vehicle 10 days after it’s on the lot, and your recon process takes 10 days while theirs takes 5, they sold that car 25% faster than you. (and bought the next car 25% faster than you). With high demand, that means they are selling 25% more than you every month with the same inventory level!
The simplest solution to closing this gap is tuning up your reconditioning process and seeing where inefficiencies lie. Cutting down on your overall cycle time by even a day or two will get your inventory turning faster and your volume up.
Being Ready Keeps Customers Interested
Imagine a situation where a customer stops by your dealership to browse your used pickups. They explain what they’re looking for, but nothing you have quite checks all the boxes. Two days later, a truck that perfectly matches that shopper’s wants and needs comes out of reconditioning and hits the lot. But your potential customer has already gone elsewhere and found the truck they wanted. You can avoid situations like this by knowing what vehicles are currently in-process and having the ability to prioritize your production environment. Without the proper tool, your only option is dependent on verbal communication and hoping the right vehicle comes out of your reconditioning process at the right time.
Don’t Forget the Digital Front Line
More shoppers than ever start their used-vehicle searches online. Estimates show around 92 percent of shoppers do research and browse inventory online, and nearly 40 percent will only visit one dealership.
Because of this, it’s crucial you consider the digital front line. Moving your vehicles through reconditioning so they can be photographed and uploaded to your website’s inventory puts products in front of potential buyers. Doing this quickly and efficiently gives you a better chance of being the one dealership that a shopper visits.
Don’t underestimate the importance of getting your vehicles out on the front lines quickly. A matter of days will make all the difference when it comes to your bottom line. Focusing your efforts on streamlining your cycle time and empowering your technicians will pay dividends when it comes to sales and profitability.