Wednesday, August 12, 2009

Dealer Inventory Shortages

The past couple of weeks I'm hearing about inventory challenges more and more. The Clunkers boom is beginning to start a new car shortage, and prices at the auctions are making pre-owned vehicles hard to come by. Obviously, I don't build cars in my garage so I can't help on the new side but here are a couple of ideas on the used car side:
  • Send out a true "buy back" mailer. We've all used these in the past with the aim to actual sell vehicles off of it-by why not actually try to buy back nice, late model used vehicles from the public? Chances are you'll get the same or better deal than you would at the auction and you've made a new contact--then it's just bonus points if they buy while they 're in! We've created a letter and an event style mailer for just this reason.
  • Ask for help! There are experts out there when it comes to working the auction circuit that can help you make sure your time is well spent. Devin Weisleder at Vuenu Media is one of those guys I happen to know. He helps dealers with knowing exactly what is selling in their market and which vehicles are most profitable, sorting those vehicles by which can gross dealers the most profit, displays which lenders are financing those vehicles AND he knows where and when those vehicles will be running at upcoming auctions. Devin helps a lot of dealers, he might be able to help you too--and their reports start at only $395!
  • Get online. Spread the word that you are paying top dollar for local vehicles on your website, Facebook page, Twitter, etc. If you aren't completely savvy in the social media world try an email campaign. You could saturate your entire market for just a couple thousand dollars!
  • Call me. If you are having trouble with inventory, don't hesitate to call. Our best ideas are spurred by conversations with real dealers about their real issues. We'll talk through it and see if there is anything I can do to help.

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