Enhancing your used car profitability
5 August 2015
In a sector where margins are notoriously tight, dealers must focus on every aspect of their used car operation to drive increased revenue and profitability. This is the focus of the AM Used Car Conference in October.
Themed ’10 ways to boost used car profitability’, the conference, which takes place at the Hilton St George’s Park, Burton upon Trent on October 20, will explore a host of ways to maximise performance from managing stock to CRM.
Following last year’s six-year used car market high, 2015 was tipped to be staple and relatively bright.
However, dealers need to take on board emerging trends such as the return of vehicles following the end of PCP agreements which have been largely responsible for the surge in new car registrations over the past few years.
“There are a whole host of trends and influences which are coming to bare on the used car market,” said AM managing editor Tim Rose.
“They are not all negative, but some such as the impact of returning PCP vehicles to the used car market need to be managed carefully whilst others such as the increased use of mobile and reliance of consumers on peer reviews all affect sales and profitability.
“We have focused on 10 areas to improve used car profits and efficiencies at this year’s conference as well as looking at opportunities, threats and solutions, but in reality we expect dealers to return to their businesses with a lot more ideas to maintain their used car momentum.”
Already conference speakers include some delegate favourites as well as input from new quarters.
Hugh Dickerson, senior industry head automotive at Google is back and will focus attention on the increased use of mobile as the device of choice to access the internet including researching the next used car purchase.
Professor Jim Saker, director of the Centre for Automotive Management at Loughborough University and columnist for AM, will ask if the time has come to create a new model for customer service.
Neil Addley, managing director of Trusted Dealers and founder of JudgeService Research, will draw on his dual roles to explore the intricate links between customer reviews, customer service, retention and profit as well as providing insight from research and data amassed from Trusted Dealers.
For the first time, the conference welcomes Paul Hill in his capacity as chairman for the National Association of Motor Auctions (NAMA) which collates information from its member auction houses in order to provide a snapshot of the used car market.
His session will include ways in which dealers can ensure they achieve the very best price for the vehicles they decide to send to auction.
Rose said: “We are in the process of confirming other high profile speakers who are able to bring a unique angle to help dealers enhance their used car operations.
For those who are keen to find every way possible to gain an edge and ensure their used car business continues to strengthen as well as understanding the challenges on the horizon, this conference is a must.”