Beat the supply shortages and boost revenue
There’s never been a more crucial time to focus on used stock. In fact, for multi-branch businesses, the current new vehicle shortages, and surging market value of used cars, presents a golden opportunity – if retailers have the tools to tap in. Pinewood DMS is focused on maximising profits group-wide, allowing leaders to handle used stock as efficiently as possible.
Keith Magill, COO at Pinewood DMS SA explains:
“With the current state of the used vehicle market, our customers have a powerful tool at their disposal in the Pinewood DMS – with the various built-in tools, dealerships (especially dealer groups), have the ability to view live used vehicle stock (including: pricing, margin, group days in stock, location history, vehicles on customer order, to name a few key areas), ensuring such stock is seamlessly marketed on the internet, track activity on such stock, and manage trade-in activity (including what has been purchased by date range and of such purchases what has been sold. It is critical to ensure dealerships have a strong used vehicle purchase and sales strategy, which should combine the digital tools available and the operational activity within the dealerships that can not only ensure good stock levels, but make sure they are purchasing the right stock and know how to address any lost trade-in’s.”
Having a system with a single point of control, managers can identify where process improvements are needed, benchmark their best-performing sites, and ensure all branches are turning over vehicles at a competitive margin.
John Trollip, Managing Director at Fuzion Motor Group says:
“Our Group is very focused on looking after our customers from the sale to the end of the journey. Pinewood DMS has assisted us in managing that relationship and offering services relevant to the customer at the right time in the cycle.”
Fuelled by the lockdown restrictions, car buyers now have more choice than ever – able to research and buy online, in-store, or a mix of the two. Failure to efficiently prepare and list stock online could result in losing customers and dealers need to be supported by a DMS which can leverage the business. With a live, accurate view of stock, dealers using Pinewood DMS can publish professional stock ads online in seconds, straight from their mobile devices.
Tracking the performance of multiple branches is key. Comparing vital metrics such as preparation efficacy, true days in stock, and profit margins, enables leaders to analyse performance and act on insights from their best-performing branches.
“With an all-in-one system like Pinewood DMS, it’s easy for leaders to make the important business decisions and analyse trends across every site. Pinewood dealers can quickly retrieve accurate data from the DMS, allowing them to understand the activity in their used vehicle departments, allowing them to ultimately drive profit maximisation.”
Ultimately, there is a considerable profit opportunity in the used vehicle market. Groups can significantly maximise revenue and results by efficiently managing stock. Taking a holistic approach can result in a big win, driving results.
Pinewood DMS provides all the tools large-scale businesses need to excel.
To find out how your business could benefit, please complete the below form.