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Knowing the source of your inventory is the first step!
The graphic shows trade-ins on new vehicles represented the
biggest slice of used-vehicle acquisitions, at 43% of the pie.
The second-biggest contributor to used-vehicle inventory,
auction purchases, came in at a distant 27%. Close behind
were trade-ins on used vehicles, at 22% of acquisitions. The
question of whether to retail or wholesale a vehicle can be a
difficult one, and the decision must be made based on
customer appeal, predicted turn time and thecost of
reconditioning for each vehicle.
(For more information, see NADA Driven guide SL17, A Dealer
Guide to Auctions: Controlling Inventory, Increasing Profits.)
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Both figures below include F&I (NADA Data 2016).
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To consistently generate profit, you need to track the make, model, age, classification and value of each
used vehicle you’re offering.
Next, you need to compare your inventory with what is selling in your market. Doing so will keep you
updated on the most requested vehicles, including the preferred price ranges, which vehicles to wholesale,
when to bring the vehicle to auction, etc.
The top five activities conducted online by car shoppers include researching car prices (71%), finding actual cars listed for sale (68%), comparing different models (64%), finding out what current car is worth (63%), and locating a dealer or getting dealer info (46%).
(Information from Autotrader)
Want to know more about Carketa?
Carketa is the first full Dealership Operational Software. Carketa
handles your inventory from acquisition to sold. We do this
through out SaaS products:
Your market doesn’t have to be limited within the four corners of
your locale. With our condition reports, you can now sell your
vehicles to out-of-state buyers, and set their expectations for
It is essential to provide all the information car buyers need to
know before purchasing. With condition reports, such as ours,
which are packed with all the right and updated data, you’ll be able
to convince buyers better and give them reasons to buy.
Our mission at Carketa revolves around transparency, because
every customer deserves peace of mind when buying a used
vehicle. That’s why our pre-purchase condition reports have
been carefully crafted to provide in-depth, accurate information
on every vehicle we inspect. The report covers over 60
categories and over 200 points of inspection. Therefore, with
the Carketa current condition report, you’ll know exactly what’s
under the hood when buying your next used vehicle.
We understand how overwhelming the car buying experiencecan be, let Carketa take the guesswork out
of it. We have partnered with dealerships across the country that provide the best inventory on the
market, and we have the reports to prove it.
Did you know that the NADA recommends to turn your inventory 12 times a year. This means you should maintain a
1:1 sales to inventory ratio each month. Our Carketa partnered dealers have reported boosting their inventory turn time as much as 15 times a year!
Carketa was founded in 2019 to improve the car buying experience to the benefit of dealerships. We believe dealerships must evolve to compete in the digital world. Carketa will be the vessel that helps dealerships compete online.
In everything we do, we believe in a better car buying experience. We help dealerships realize their potential and compete online.
We help dealerships dramatically decrease expenses by streamlining their recon process and getting vehicles front line ready faster than ever. We also help dealerships sell more cars by reaching more customers, improving online customer acquisitions, and improving conversion rates to increase sales.