ATLANTA—How has COVID-19 changed the way dealers are stocking their lots and selling vehicles to consumers?
PureCars, which tracks digital advertising trends for auto dealers and the industry, said it has found auto dealerships are making changes to adapt to the new market environment.
Among the operational changes, according to PureCars: dealers are creating innovative ways to acquire used inventory. For example, one major group hired a used car acquisition specialist whose sole responsibility is to mine the current customer base for trades and provide instant cash offers for desirable cars over the phone.
On the advertising side, dealers are showcasing their strongest trade-in incentives, sometimes offering up to $1,500 over Kelley Blue Book value.
“Further, they are doubling down on merchandising efforts via data-intensive tools, which provides the customer a comprehensive report of all the value adds and reconditioning work that has been completed on the car,” the company said.
Another tactic: dealers are taking advantage of VIN-level, dynamic advertising to keep their inventory moving.