The New Way to Combat Inventory Shortages
The automotive industry has seen some signs of recovery, with the easing of lockdowns providing some demand relief late in the second quarter. Dealerships have implemented creative approaches such as contactless delivery and increased digital retailing tools, but sales and inventory levels will continue to fluctuate given economic uncertainty and supply chain disruptions. The lack of new vehicle supply has forced dealerships to rely more heavily on used inventory, but sharp price increases in the auction channel have created an unsustainable situation.
SpinCar has developed new technological capabilities and documented retail best practices to help dealerships successfully navigate these challenging times. Now, more than ever, dealers need to acquire inventory responsibly and cost-efficiently while continuing to build a robust lead pipeline. The ability to quickly adapt to this new reality is crucial for dealerships who want to not only meet, but exceed consumer demand. Our best practices will give dealers actionable items, like removing vehicle evaluation widgets from VDPS, that can be implemented today to optimize for acquiring inventory.
Learn how to implement these strategies quickly and effectively by reading more here.