FirstLook White Paper Explores Adapting to the Used Vehicle Market Reality

FirstLook Dealership DNA

The used vehi­cle mar­ket land­scape has shifted gears rad­i­cally in the past five-to-six years, accord­ing to FirstLook’s white paper, “Retail Per­for­mance Man­age­ment.” As for causative fac­tors, First­Look points to:

• Buy­ers were kick­ing tires at five or six dif­fer­ent deal­er­ships years ago, and that’s now dropped to 1.8 in-person store vis­its.
• As the reces­sion slammed down hard, used car sup­ply waned and com­modi­tiz­ing of the used car indus­try was born. Many deal­ers have sold inven­tory as cheap as pos­si­ble, turn­ing them as fast as pos­si­ble for tiny mar­gins, then ran back to the auc­tions to scoop more sup­ply.
• The “veloc­ity only” approach hasn’t gone so well. Gross prof­its have been eroded.

It doesn’t have to be that way if you can access both the tools and phi­los­o­phy nec­es­sary to turn cars while achiev­ing high gross prof­its. First­Look set out to deliver a new gen­er­a­tion of retail auto­mo­tive soft­ware in its Retail Per­for­mance Man­age­ment (RPM) prod­uct that com­bines both ana­lyt­ics and cut­ting edge prac­tices – giv­ing cus­tomers the vis­i­bil­ity and con­trol required for turn­ing inven­tory with higher gross prof­its. The reports digs into the “deal­er­ship DNA” and “mar­ket DNA” issues shap­ing the mar­ket today.  Click here to down­load FirstLook’s white paper on this lead­ing edge topic.

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