How to Stay Profitable with Low Inventory

Making The Inventory You Have More Appealing to Your Customers
Patriot Asset Management

We’ve spoken with so many dealerships who are struggling to find inventory to sell to their customers. While you can’t always control the amount of inventory you have, you can make your inventory more appealing to your customers.

One way to do this is by offering unique incentives that your customers aren’t likely to find anywhere else. These incentives may include:

Customizable maintenance discounts

Stolen Vehicle Recovery (or SILVER Protection for subprime buyers)

Easy payment methods for subprime customers

Also make sure that each car has at least half a tank of gas and monitor the battery voltage of every used vehicle.

Make enthusiastic walk-around videos to get people excited about visiting you; once created, release these videos for free on various social media pages.

Ask your customers the right questions when they come in. This article on Qualifying Customers highlights the importance of tone and asking questions the right way.

You can also increase your profits by minimizing your risk through reinsurance and/or GPS tracking.

What measures has your dealership taken to overcome difficult challenges? 

We love hearing success stories and providing additional resources when we can. Drop a line to [email protected] or find us on LinkedIn.

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