With the influx in used car sales over the last year resulting from new vehicle production delays, franchise car dealerships are in a unique position to leverage this new — or shall we say used — car buying trend.
A recent LA Times article gives a snapshot of the uptick in used car sales in the Los Angeles market, stating there were approximately “101,000 used cars for sale in the L.A. region during the week that ended April 4, down 12% from the same week in 2020, and off 18% from 2019.” The year-over-year decline in used car inventory speaks volumes — no pun intended — to the drastic shift in car buyer behavior.
While the latest makes and models are typically the flagship sales pitch for franchise car dealerships, recent market trends show there’s plenty of opportunity to clear more used models off dealership lots.
Here are some options that can help you increase used car sales at your franchise car dealership:
- Used Car Promotions
The increase in used car sales may mean it’s a good time to focus on promoting your used car inventory. With auto manufacturers back in production, selling more used vehicles off your lot can help make room for the newer makes and models coming down the pipeline.
Reconditioning used cars on your lot is an effective way to improve their appearance and attract car buyers.
Facilitating regular inspections and test driving your used car inventory for deficiencies can help reassure potential car buyers of the quality of your vehicles.
If your franchise car dealership is looking for ways to reach car shoppers with bad credit or no credit, Credit Acceptance gives you the ability to say ‘YES’ to every car buyer regardless of their credit history. Simply fill out the form on our website to learn the benefits of becoming an enrolled dealer in our dealer finance program!
- Publish Date