THERE’S never been a more crucial time to focus on used stock. In fact, for multi-branch businesses, the current new vehicle shortages, and surging market value of used cars, presents a golden opportunity – if retailers have the tools to tap in.
Pinewood DMS is focused on maximising profits group-wide, allowing leaders to handle used stock as efficiently as possible. Neville Briggs, Managing Director at Pinewood Technologies said: “Our customers, including several leading dealer groups, are driving strong revenues from their used retail sales – having tuned into the market and made use of our built-in tools. Pinewood DMS gives leaders a full view of their stock across multiple sites, focused on boosting revenue.”
Having a system with a single point of control, managers can identify where process improvements are needed, benchmark their best-performing sites, and ensure all branches are turning over vehicles at a competitive margin.
Darren Lakin, Aftersales Director at Wessex Garages said: “The fact we can see everything in one place, whether it’s in sales, accounts, service or aftersales, makes everybody’s life much easier. It’s made a massive difference, it’s saved man-hours, and it’s streamlined our approach to business across every platform.”
Fuelled by the lockdown restrictions, car buyers now have more choice than ever – able to research and buy online, in-store, or a mix of the two. Failure to efficiently prepare and list stock online could result in losing customers and dealers need to be supported by a DMS which can leverage the business. With a live, accurate view of stock, dealers using Pinewood DMS can publish professional stock ads online in seconds, straight from their mobile devices.
Tracking the performance of multiple branches is key. Comparing vital metrics such as preparation efficacy, true days in stock, and profit margins, enables leaders to analyse performance and act on insights from their best-performing branches.
Briggs added: “Our top-performing dealer groups are using Pinewood BI to obtain critical insights and leverage their returns. With an all-in-one system like Pinewood DMS, it’s easy for leaders to make the important business decisions and analyse trends across every site. Even down to getting the best rates for funding, groups can quickly retrieve accurate financial data from the DMS, whereas most systems would struggle, needing to collate data from multiple sites, across several platforms. Maximising profit from used stock relies on getting the best rates for funding.”
Ultimately, there is a considerable profit opportunity in the used vehicle market. Groups can significantly maximise revenue and results by efficiently managing stock. Taking a holistic approach can result in a big win, driving results. Pinewood DMS provides all the tools large-scale businesses need to excel.
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