When your inventory is under control, you sell more cars, keep your prices appealing, enhance your reputation, and stay ahead of your competitors. Dealer management software gives you the ability to do all this by ensuring you always have accurate vehicle inventory at your car yard.
There's an old (and accurate) saying: If you don't have a plan, you're planning to fail. Successful businesses need to make good plans based on accurate data, and for the used car seller, that starts with an analysis of everything you have. How many days has each vehicle been sitting in your lot? How many vehicles do you have, total, at all your locations? How are your sales comparing to those of competitors, both in general and with specific makes and models? How does an advertising campaign affect your inventory, if it does at all?
This is the kind of information you get with management software, allowing you to see at a glance which vehicles are selling well, which need their prices lowered to get them moving, and what the yard across town is doing that you could match (or even beat).
Take the big-picture view you have from your inventory analysis and then look more closely to the see the specifics. Choose a specific make and model of car--how is it performing in your yard? How is it performing for a competitor? With this information in hand, you can make faster, smarter decisions not just about pricing, but also about advertising.
When you have access to this detailed information, constantly updated in real-time, you can pivot quickly when something changes. You can increase advertising or decrease it, lower or raise prices, offer different incentives that will draw in more customers, and do it all more quickly than your competitors, keeping you on top.
Most yards know they need to keep an eye on their competition, but not all of them are checking everywhere they should be for competition (and information). What sales situations are you missing out on? Do you have access to information about what dealers are giving for cars in trade-in situations? What about auctions? The more sales situations you can add into your analysis, the more confident you'll be that your prices are exactly where they should be to enhance profits and keep inventory moving.
Good management software not only gives you this kind of information but also allows you to "play" with it, adjusting estimates to see how things change when you add an accident report to a given make and model, add a couple hundred more kilometres to it, or throw on a set of brand new tyres.
Information is power, and with the kind of inventory details you have with car management software, the power is in your hands. You'll always know exactly what's in your inventory and exactly what it's worth. You'll have the ability to react to changes in the market in real-time, giving you business success you're looking for.