Competing for inventory at auctions is getting harder and more expensive. You don’t have the budget to bundle a large number of vehicles which means you’re paying more per unit than you used to. Larger dealerships that can bundle are hand-picking the best inventory. What you’re left with is margins so small it’s hard to make deals.
What do you do?
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Thinking about investing in traditional marketing channels? Think again. Traditional channels like TV and radio are continuing to price themselves out of dealers’ reach. The same goes for third-party listing sites that charge a fortune without delivering real leads. Fortunately, it’s never been easier for dealers to run their own digital advertising. Digital advertising isn’t just
It’s a seller’s market right now. That’s pretty incredible when you consider all we’ve been through in 2020. But dealers shouldn’t celebrate just yet. After all, more demand means more competition — and widespread inventory shortages are making it tough to fight back. So how can dealerships outmaneuver competitors and take advantage of this seller’s market? By
The shift towards digital retail has been happening for years and 2020 has only accelerated that trend. 2 out of 3 car buyers are now more likely to skip dealerships and buy directly online. And according to Google, searches for “dealerships near me” dropped over 20% earlier this year. But none of this is cause for alarm —
Dealers’ toolkits used to be a lot simpler. Salespeople relied on a couple of major pricing books, industry experience, and maybe a few common sales strategies. How times have changed. Modern technology has turned dealerships of every size into complex operations. On top of that, online competition is forcing dealers to use new digital tools
If 2020 has proved anything about the auto industry, it’s this: The only certainty in car sales is uncertainty. Earlier this year, we experienced one of the biggest interruptions in retail history. Now, sales are as strong as ever. Who could have predicted that? But it’s always possible we’ll experience another disruption. Thinning margins and
Vehicle sourcing is the cornerstone of any successful dealership strategy. Buying the right inventory — at the right price — is critical to thriving in today’s auto market. Country Hill Motors spent years using an auction sourcing strategy that kept profits steady. However, as the market became more competitive, they knew something had to change.
It’s a seller’s market right now, and dealers who’ve spent years struggling against margin compression are breathing a sigh of relief. However, we’re moving back towards a buyer’s market each day. When the market finally flips — as it always does — dealers will again be fighting for front-end gross. Why? Because companies like big-name
Updated September 27, 2020 “You don’t make money when you sell a vehicle. You make money when you buy it.” Sound counter-intuitive? Maybe. But successful dealers know it’s 100% true. That’s because buying the right vehicles for your market, at the right price, helps you sell cars faster while earning a higher gross-per-copy. Last year,
Updated September 8, 2020 It’s harder than ever for dealerships to make money. As local and national competition heats up, dealership margins are becoming slimmer. Customers are better informed and expect the best deal every time. It’s not all doom and gloom, though. It’s still possible to thrive in today’s ultra-competitive market — you just
Washington-based South Tacoma Auto was an early adopter of market-based pricing. As vAuto customers, they were happy with the results… for a while. As new market-based pricing tools entered the market, South Tacoma realized something: big-name tools like vAuto came with a big price tag. That’s when the dealership switched to VinCue. Now, after two
The car market has changed forever. Buyers are smarter, competitors are better-funded, and online sites are turning dealerships into commodities. But it doesn’t have to be that way. The best dealers are adapting to this new world — and succeeding. Here are 11 reasons why top dealerships are switching to VinCue: 1. Better Data
Today’s dealers still rely heavily on third-party marketplaces to move inventory. Although there are now better ways to advertise your vehicles, third-parties are still a critical marketing channel to master. Of course, these companies are in the business of making money, and they want you to pay for premium listings on their site. But here’s
Updated August 3, 2020 Today’s dealers need a confident auction sourcing strategy to succeed. Why? Because achieving a higher gross and turn for your dealership starts with buying the right cars at the right price. Dealers should walk into each auction knowing what to expect — and how to leave with the best deals. That
Moving inventory quickly is critical to your dealership’s success, but it’s tougher than ever for dealers to meet the ideal 30-day turn rate. For years, dealers industry-wide have tried to improve inventory turn rates by lowering prices. But this is just a temporary solution — and even worse — one that can end up putting
Updated July 30, 2020 For good or bad, most car buyers today refuse to take a car dealer at their word, especially when it comes to buying a used car. Vehicle history reports are virtually non-negotiable in today’s world of ultra-transparent deals. Which leaves dealers with a sticky question: Should they choose Carfax or Autocheck?
Even the largest dealer groups aren’t immune to the challenges of today’s retail market. OEMs, online platforms, and third-party lead providers are all driving down prices — causing your stores to compete on cost instead of value. Despite this, dealerships have continued to sell cars the same way for years. To help their stores succeed,
Adesa auctions are the gold standard for many dealers. They focus heavily on the customer experience by providing unique products and features that dealers love. Adesa auctions are fun, easy to use, and always full of great inventory. With 75 physical auction locations around North America, nearly everyone in the US, Canda, and Mexico is
Do you feel in control of your dealership’s advertising strategy? If you’re relying on third-party listing sites to market your inventory, it probably seems like they’re calling the shots instead of you. That’s because these sites aren’t just trying to help dealerships — they are trying to help themselves. Third-party marketplaces are in a battle
Hundreds of Dealers have switched to VinCue in 2020 because we offer tools and solutions that meet the challenges of today’s markets. Selling cars isn’t magic and it’s never been less of an art. Today’s market is powered by data and your customers know it. To meet them where they are you need smarter tools and smarter systems. We all know where the market is heading, let us help you get there first.