Want a sneak peak of the training?
Knowing the source of your inventory is the first step!
The graphic shows trade-ins on new vehicles represented the
biggest slice of used-vehicle acquisitions, at 43% of the pie.
The second-biggest contributor to used-vehicle inventory,
auction purchases, came in at a distant 27%. Close behind
were trade-ins on used vehicles, at 22% of acquisitions. The
question of whether to retail or wholesale a vehicle can be a
difficult one, and the decision must be made based on
customer appeal, predicted turn time and thecost of
reconditioning for each vehicle.
(For more information, see NADA Driven guide SL17, A Dealer
Guide to Auctions: Controlling Inventory, Increasing Profits.)