The latest iPhone, the most recent book by a favourite author, the new Jordans, and sports equipment are all on the Christmas wish list, as is a new car. However, only a small percentage of those new automobile requests will be granted by the merry man in the red suit. Even if automobiles wrapped in enormous bows aren’t a significant part of your year-end sales, you need the sales floor to blast into high speed once the calendar page turns.
Of course, if every dealer was aware of the most effective methods for increasing auto sales, there would be no multimillion-dollar business dedicated to educating salesmen how to raise sales. And if you’re reading this, you’re probably aware of the volatile nature of the automobile industry. One day, you’re so busy that you hardly have time for a toilet break; the next, you’re fighting to meet your monthly goal. While being stuck in a rut is annoying, it is an excellent opportunity to evaluate your dealership’s strategy to see what may be lacking.
Arrange your inventory wisely
While pricing is critical, if your inventory is routinely sitting for more than 60 days, it’s possible you’re not stocking the correct models. Take note of the vehicles that consumers enquire about and keep an eye on your monthly reports to see which vehicles are selling. When you can lower your floorplan costs, you increase your chances of profitability. When acquiring automobiles for your lot, it is critical to make informed judgments. Provide them with what they desire, not what you believe they require.
Welcome to the world of post-holiday splurges
Nobody knows for certain how many automobiles are given as Christmas gifts. For the majority of individuals, such a large purchase is simply not practical. Nonetheless, a small percentage of consumers will return after the holidays to select a new car they were promised as a present or to make up for a spectacular failure of some sort over the festive season.
For this demographic, bear in mind that the item is a luxury but nearly always a useful buy. It is improbable that you will sell ‘halo’ or ‘flagship’ models. Rather than that, the standard model line-up remains in effect. Given the extravagant nature of the vehicle, there’s a good chance you’ll be able to upsell the customer to a higher trim level than they’d normally purchase, but it’s always a good idea to keep a few great pre-owned vehicles on hand as well.
To ensure a successful sale, demonstrate the model and trim that correspond to the buyer’s wants and requirements evaluation. Then, pair it with the higher trim level to provide a ‘either-or’ option rather than a ‘yes-or’ one.
Provide customers with unique incentives
Free oil changes are a popular incentive for dealers to offer their customers, but they’ve grown so prevalent that vehicle purchasers think they’re included with their purchase. Offering unique incentives to your consumers is one of the most effective strategies to promote automobile sales. Rather than that, you can consider selling the following:
- A tyre and wheel package, paint protection, or other extended service packages.
- A gift voucher for consumables like as wiper blades, brakes, or tyres.
- Services of reconditioning. Even three reconditioning sessions are still less expensive than a lifetime of oil changes, which appeals to busy clients.
Prepare for further collision replacements
Unfortunately, another cause for many of your first-quarter clients to visit is to replace a car that was totalled in a crash. December and January has seen a 49 percent increase in insurance claims, and write-off automobiles are often replaced immediately.
These clients feel compelled to make a purchase on the spot. The finest thing you can do for them is to maximise the efficiency of their sales experience. Provide alternate transportation until their new automobile is available to be picked up, since insurance pay-outs can sometimes take weeks. Recognize the transaction’s bad timing and make yourself accessible to assist in any way feasible, such as providing a value letter to aid in their insurance pay out.
Streamline your daily routine
By working more efficiently, you can shorten the time required to execute a car transaction. As a result, you’ve gained additional time to sell more automobiles and improved client retention. Because digital procedures are the most efficient approach to increase productivity, it’s critical to leverage your dealership’s CRM solutions. Determine that the software you select is mostly geared towards auto dealers and has a mobile application. Mobility is critical for today’s auto dealers, since the quicker you reply to a client, the more lucrative you will be.