A brand new Highlight digital report for automobile dealers, focused on developments and best practice within the used automobile market, has just been launched by AM.
The Highlight on Used Automotive Retailing is free to read here, and the 27-page issue includes features on used automobile market trends, vehicle sourcing advice, improving stock turn and the most popular used cars to stock.
It recognises the shift within the used automobile market to more usual dynamics after the high margins and restricted supply characteristics that emerged within the aftermath of the 2020 and 2021 pandemic.
Contained in the report are insights and expertise from the likes of Mike Jones, Dylan Setterfield of Cap HPI, Philip Nothard of Cox Automotive, Richard Walker of Auto Trader, NAMA’s Paul Hill, and more.
Click here to read it.
The editor’s letter
With all of the Government deal with driving UK motorists towards electric vehicles, the typical man or woman (and Member of Parliament) on the street is probably going oblivious to the importance of a healthy used automobile market in helping the country achieve those long run ambitions. It’s used automobile sales that greases the wheels of motor retail and lets all of it occur.
It’s inexpensive and accessible used cars that enable the vast majority of the population to steadily upgrade right into a more modern, safer, lesser-emitting automobile than they drove previously. In any case, for each single recent automobile sold to a personal retail buyer last yr, there have been seven used automobile transactions registered by the Driver and Vehicle Licensing Agency.
A dealership’s healthy bottom line is reliant on success in used automobile sales. The complexity of used automobile retailing may be easily underestimated, as we’ve seen within the failed attempts by Virgin, Tesco, Cazoo and others to rival the expert dealers we’ve within the UK. 
The necessity to carry on top of stock sourcing, preparation, marketing, price adjustments, speed of sale, retained margin, point of sale F&I, customer experience, and more, implies that dealers must at all times have one eye on the fundamentals and the opposite on the opportunities across the corner. Let any aspect slip and that margin could dwindle.
On this dynamic, competitive sector there’s at all times something recent to learn or trial.
This Article First Appeared At www.am-online.com
