Automotive Digital Marketing

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This ain't no April fool's joke!!

Just look at the last few days

Did you feel it?

That was the price hump you just went over!

Just when you had that confident "I know everything and this is easy" sensation and every deal is a winner-  POOF!

Time to tighten up how far back to go when scanning cars to get quick market views of what they're worth.

If you were using the past 30 days of sales to determine value, that may be 28 too many!

If your at the peak and prices begin to decline, you have to pay attention to TODAY'S prices.

Use the auction venues to tell you what things are worth today- this is where the check writers are.

Keep an eye open for the trends ahead of you that will effect your total gross profits. As Michael Waterman, DealerSocket's divisional vice president recently stated:

"Average total gross profitability for used vehicle sales peaks in March and declines through the remainder of the year- a trend that will be exacerbated by the more than 800,000 lease maturities hitting the market. A prepared dealer will have plans to take advantage of this inventory influx."

As a wholesale profit center in ANY car dealer endeavor demands, it's all about the margins!

Stability to be profitable in declining price markets requires constant adjustment- some times small, sometimes larger. You'll then be able to spot the lucrative wholesale opportunities in the days and weeks ahead!

Then as the summer months arrive, the statement " I'm buried in that thing" will be completely absent from your vocabulary.

OVE listings will still see offers
Live auctions will still have bidders

So you as a properly prepared dealer will continue to be profitable month after month.

IMG_9198

A quick look at this weeks auction run (see above photo) shows some examples of years and models to be on the lookout for.

Exporters are actively seeking these and as a result prices remain stable'

O.V.E. activity has slowed, Manheim has decided to change the listing duration from 3 days to 1. I'm told this is to create the appearance of a daily online auction, but the ensuing chaos has both buyers and sellers scratching their heads!

stay tuned

out for now

Barry J. Neuman

Member of Manheim's "superseller" club

Views: 280

Tags: auction, auto, wholesaling

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Comment by Jasen Rice on April 7, 2016 at 2:20pm

I totally agree and I put this video out last month warning dealers to start getting clean

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