At this point, the sales team becomes aware that the vehicle has been added to the dealer’s inventory and is ready to sell. This process can take anywhere from 48 hours to 10 days depending on staff availability and the condition of the car.Ī dealer’s sales team usually does not know about a vehicle until it has gone through the reconditioning process. Before these vehicles are resold, they typically need to go through the reconditioning process. Follow these tips to generate more sales and move your dealership’s inventory faster: GET SALES INVOLVED IN THE RECONDITIONING PROCESSĪuto dealers often purchase used cars from auctions or accept them as trade-ins. But if your inventory turnover ratio is lower than 12, you may want to put a plan in place to drive more sales at your dealership. The higher the inventory turnover ratio, the better. But in general, auto dealers should strive for an inventory turnover ratio of 12, which means they are selling through their existing inventory every 30 days, or about 12 times per year. The inventory turnover ratio will tell you how quickly you are selling your dealership’s existing inventory. To calculate your inventory turnover ratio, divide your cost of goods sold by the average value of your inventory. One of these metrics is your inventory turnover ratio, which is the number of times in a year that your dealership’s inventory is sold. If you’re in charge, there are several metrics you can use to evaluate your dealership’s success.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |