Mastering the art of vehicle acquisition is crucial for dealerships aiming to maintain an edge. Leveraging the expertise of Vehicle Acquisition Coaches can transform your sourcing strategy and align it with your dealership's goals for maximum profitability.
Partnership with vAuto: A Strategic Alliance
Our close partnership with vAuto is pivotal. By collaborating with vAuto’s performance managers and Vehicle Acquisition Coaches, we ensure that your dealership’s buying strategy is fully aligned and optimized for success. This partnership focuses on critical areas such as balancing offers for street buying versus auctions. As Tom insightfully notes, “If your team offers 10% less for cars on the street than they would at auction, reassessing and ensuring consistency across the board is essential.” This consistent approach leads to better alignment and improved results, helping your dealership thrive.
Data-Driven Decisions
In today’s data-centric world, making informed decisions is paramount. Tom emphasizes the importance of using data to drive vehicle acquisition strategies. By incorporating vAuto’s unique insights into the private seller market, we help dealers pinpoint vehicles with the highest return on investment. Tom explains, “Dealers often face the overwhelming task of navigating thousands of available cars. With strategy actions and stocking grades, we can guide them toward the most profitable choices.” This data-driven approach not only optimizes inventory but also maximizes profitability.
Automating Engagement with Sellers
Efficiency in engaging with sellers can significantly impact a dealership’s success. The automation of seller engagement, as highlighted by Tom, is a game-changer. "Automating engagement with sellers has revolutionized our approach, making it easier and quicker to connect with potential sellers,” he notes. This streamlined communication process ensures that dealerships can efficiently manage their acquisition pipeline, ultimately leading to higher profits and better inventory turnover.
Consistency and Communication
One of the cornerstones of effective vehicle acquisition is consistency in strategy and communication. Tom points out, “Facilitating open communication between buyers, coaches, performance managers, and dealership executives ensures everyone is on the same page, driving better outcomes.” This holistic approach bridges gaps and ensures that all stakeholders are aligned, working towards the same goals.
Optimizing Street Buying Strategy
Street buying offers a unique opportunity for dealerships to expand their inventory. Tom’s insights shed light on the nuances of this strategy. “If a dealer offers 80-85% for a car on the street but would pay 10% more for the same car at auction, it’s crucial to identify if this aligns with their overall strategy.” By fine-tuning street buying tactics, dealerships can acquire valuable vehicles at better prices, enhancing their inventory and profit margins.
Ready to optimize your dealership's buying and selling strategies? Contact VEHICLE ACQUISITION NETWORK for expert guidance and to achieve better outcomes.
