icon-branding Events Icon Created with Sketch. Inventory Icon Created with Sketch. icon-mail-hovericon-mail Marketing Icon Created with Sketch. icon-operationsicon-phone-hovericon-phone Product Training Icon Created with Sketch. Sales Icon Created with Sketch. Service Icon Created with Sketch. icon-social-fb-hovericon-social-fbicon-social-google-hovericon-social-googleicon-social-linkedin-hovericon-social-linkedinicon-social-rss-hovericon-social-rss icon-social-twitter Created with Sketch. icon-social-twitter-hovericon-social-twittericon-social-youtube-hovericon-social-youtube

No one should live their life in fear, simply because of the color of their skin.

OUR FULL STATEMENT x

Used Car Market Report & Outlook

Are you showing the Right Balance of New and Used Cars on your Lot?

Share

Facebook Share Twitter Tweet Linkedin Share Email Email

Article Highlights

  1. At this time in the car business when it is getting harder and harder to hold gross on new-vehicles, used-vehicles are becoming more critical to dealer profits than ever before. In spite of these trends, many dealers still do not have a solid grasp on their used inventory.
  2. According to Cox Automotive, New vehicle sales in 2018 are expected to decline, while used vehicle sales are expected to increase. It is time to take a look at your balance of new and used cars and explore opportunities to improve.
  3. “Used retail unit volume equaling or surpassing new retail volume is a foundational correlation of highly successful used-vehicle departments, assuming the dealership is meeting new-vehicle volume goals,” Les Abrams, director, training & client services, Cox Automotive, wrote in the company’s 2018 Used Car Market Report & Outlook.

At this time in the car business when it is getting harder and harder to hold gross on new-vehicles, used-vehicles are becoming more critical to dealer profits than ever before. In spite of these trends, many dealers still do not have a solid grasp on their used inventory.

According to Cox Automotive, new vehicle sales in 2018 are expected to decline, while used vehicle sales are expected to increase. It is time to take a look at your balance of new and used cars and explore opportunities to improve.

What is the Right Balance?

In reference to the right mix of used-to-new vehicle sales, Cox Automotive’s Les Abrams says that a 1:1 ratio is good, and a 1.25:1 ratio is great.

Read more›

Sign up here to receive bi-weekly updates on news and trends dominating the automotive industry.