Wednesday 24 April 2024

How to make a car dealership more successful

Despite rampant inflation and a desperate macroeconomic climate, the new car sales market is continuing to boom in the UK.

In fact, new car registrations jumped by nearly 24% in November when compared with 12 months previously, while also recording a fourth consecutive month of gains.

The key drivers here, according to one of the leading industry trade bodies, are sales of large fleets and an increased demand from private buyers,

But what steps can you take to increase the success of your own car dealership? Here are some ideas to keep in mind:

Make the dealership easy to find

While location is key when optimising the success of your car dealership, it’s also crucial that the showroom is easy to find.

After all, many dealership sales are driven by foot flow and passing traffic, as local customers are likely to make a visit to check out the available vehicles and deals rather than shopping online.

Online and offline marketing channels are key here, with the combination of local SEO techniques and the circulation of advertising banners amongst target customers capable of capturing a large audience.

The goal should be to optimise exposure within the relevant catchment area to maximise demand and annual turnover.

Consider market demand

As we’ve touched on above, there are different drivers of demand in the new and used car sales markets at any given time, and it’s crucial that you keep these in mind.

This will ensure that you optimise your stock holdings in line with demand, as you choose which cars and models you want to buy and sell during specific periods.

There may be seasonal factors in play here, but the key is to constantly review and adjust your inventory to match real-time demand as best as possible and enhance returns as efficiently as possible.

Remember, the goal should always be to sell cars in volume and minimise the time that vehicles spend on the forecourt, so keeping pace with demand is key here.

Make use of technology and become a user-friendly dealership

Ultimately, it has never been easier to buy and sell vehicles in real-time, and while many customers may still prefer to shop in-person, a growing number now browse, compare and purchase even high-ticket items such as cars online.

You need to ensure that your dealership is primed to capitalise on this type of demand by using relevant technologies (that aid connectivity) and making the products as accessible as possible.

One key element here is to have a well-maintained website that adequately showcases your real-time inventory and makes a provision for online bookings, as well as enabling an online credit check facility when dealing with finance purchases.

You should also listen to feedback from customers and analyse their purchasing behaviours over time so that you can continually update your site and improve accessibility.

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