With the new car market unlikely to stage a full recovery next year, maximising opportunities in the used car sector is essential for dealer profitability in 2020.
Vicky Gardner, head of remarketing here at epyx, said: “Whatever the outcomes of the current macroeconomic issues affecting the car market, ranging from the general election to Brexit, there is unlikely to be any substantial increase in new car sales.
“However, one of the lessons of the last recession is just how resilient used car sales remain in tough times. The fact is that people need cars and, in a situation when they are uneasy with buying new, they will turn to used because of the value they offer.
“In a market that is probably going to be characterised by more uncertainty and low consumer confidence, it is very clear that it is the franchise dealers who are able to offer the most effective used car propositions are likely to be the ones who will prosper most.”
Vicky said that there had been a noticeable drive over the last year towards franchise dealers working to bring greater efficiency to their used car stock purchasing.
“This is very much part of a longer-term trend, but fewer and fewer dealers are leaving the office to buy. There is an increasing accent on buying ready-to-retail stock, presenting it in the best condition online and moving it on quickly.
“If anything, we expect this to intensify in 2020. The market will remain both busy and competitive, so there will be an accent on buying at the right price and selling within stock limit times.”
Vicky added that an extension of this trend was that franchise dealers were increasingly asking for advice about how to get hold of the stock they need within the online marketplace.
“Because our solution is platform-based, there is a general perception that every part of our process takes place online. This is true when it comes to bidding and purchasing but we have invested heavily in account management over the last few years and one of the areas in which we are scoring highly is offering expert human support to dealers by phone or in person.
“Knowing how to get the most out of 1link Disposal Network and find the stock you need is something that is very much underlined by us telling or showing you how. We’ll also be unveiling some major enhancements to the platform in the New Year, which should add greatly to its user appeal and usefulness for dealers.”
To find out how we can help you maximise used car profits next year get in touch now by calling us on 01676 591 774 or click here