Dale Pollak gives simple ways to drive a retail-first strategy in every used vehicle.

Used Car
Before you attack any ambitious goals for your used vehicles this year, ask yourself this question. Am I wholesaling too many cars, and how can I retail more of these units?

Luckily, Dale Pollack, President and Founder Of vAuto, has made it easy for you. He has four key components that will help you successfully execute a retail first strategy and lower the number of cars that end up at auctions.

Step 1: The initial assessment which requires the right technology. The best dealers know right away how much front-end profit the vehicle will generate and how difficult it may or may not be to find a retail buyer.

Step 2: Take a look at pricing. Used vehicle pricing should always be tied to each vehicle’s specific market potential. Don’t make the mistake of basing it off of someone’s judgment of what they think the vehicle should bring as a retail unit.

Step 3: What’s your retail timeline? Strive to retail every vehicle in 45 days or less. This means monitoring average inventory age, and aiming to retail at least half of your inventory in less than a month.

Step 4: Accountability. You may not always get it right on every car. And that’s okay. Your goal should be to determine how or why you couldn’t sell the car and turn the mistake into a lesson.

Accepting these retail first strategies today will increase sales volumes, F&I sales, trade-in opportunities and decrease hassles handling the units that didn’t sell. What are you going to do today to make these steps a priority at your dealership?