Dealer optimism was at a record high during the spring according to Cox Automotive Chief Economist who went on to say that while dealers remain optimistic for the coming months, the new-vehicle inventory situation is not improving, and sales are suffering as a result.
A poll revealed that limited inventory remains at the top of the list of factors dealers say are holding back their business. It first ranked at the top of thee list in the third quarter of 2020 and the percentage of dealers expressing concerns has climbed ever since, from 59 percent to 73 percent in 2021.
Several dealerships stated that the inventory crunch has taken a toll. One dealership even stated that their stock levels had fallen to fewer than 50 vehicles from their typical number of 300-plus. Certain models have had zero production for almost six months, leading to a complete absence of certain vehicles.
The Cox survey records responses from dealerships and identifies the key factors affecting their optimism or pessimism for the coming months. 1,110 dealers were included in the survey. Overall, sentiment about the vehicle market was slightly lower than last year, but still indicating a strong optimistic view.
Franchised dealerships held a negative view of the used-vehicle inventory levels, though it had also improved over the previous quarter. Demand continue to rise, providing optimistic outlooks for dealerships.
Is your dealership struggling to find inventory? Learn how AcquisitionPlus from Dixon Technologies can help you connect directly with private sellers to refresh your used vehicle inventory today. We bring the auction to you. And, you are the only one bidding on the vehicle, so you’re able to make an acquisition at the right price. Our automated texting platform contacts you with private sellers when they are selling a vehicle at the perfect time. Visit https://acqplus.org/ today!
Dealerships have asked and Dixon Technologies has created a fully customizable acquisition strategies for preowned/ used vehicles helping set dealerships apart from their competition. Dealerships will be able to identify hundreds of individuals in their area enabling them to list their vehicles for sales online. They will be able to generate dealer-customized text and email messages and stagger messaging to private sellers throughout the day to keep pace. Each captured responses from private sellers will be able to be auto-forward directly to your designated device via text and/or email as well as have the ability to get detailed reporting of responses from private sellers.
Dixon Technologies, the leader in helping dealers grow and retain their customer base through an advance suite of services has introduced the most innovative product on the market called Acquisition Plus. Dealerships will increase Margin and Volume!
Acquisition Plus helps keep dealerships from losing money on auction purchase units, rising costs of vehicles, auction fees, inspection, transportation, or holding cost. As a dealer, you will be able to connect with private sellers with the fastest moving vehicles, through an automated texting campaign. Dealerships will be able to increase vehicle profitability with the streamlined auto buying process from private sellers and the holding costs as well as costs associated with the auction are reduced because you are the only bidder. In addition, you acquired the vehicle at the agreed upon price, you have the ability to resell it at your desired price point.
Key Benefits for Acquisition Plus:
Text-to-Email Vehicle Details
Dynamic Vehicle Search
Increase Vehicle Profitability
Improve Customer Experience
Dixon Technologies, with offices in Dallas and Houston, Texas, is “Making Life Better” for dealerships by helping them grow and retain their customer base utilizing the most advance suite of services on the market. Products such as Status Plus, Recon Plus and Acquisition Plus allow dealerships to complete the cycle to profitability in both service and sales. For more information or to request a demo visit https://dixontech.net or call 469.904.0107.