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The importance of a good used car stock policy and preparation process...

The importance of a good used car stock policy and preparation process... April 27, 2015 by Mike Henshaw

How the mighty have fallen?
You may know that 'used cars' is our specialist subject and we have been involved with training and consultancy in this crucial business area all over the world. We have talked endlessly about the need to have 'stock policies', 'appraisal skills and processes' - all to support 'stock turn' and 'profitability'. So, all that said, we just had to share this picture with you. We will keep the location a secret to protect the guilty, but just imagine how long this car has been standing there!
A flat tyre, a broken door mirror and a fresh coat of dust, all add to the sadness of this once proud beauty. No wonder the guy in the background has turned his back and is walking away!
Let's just hope that it is next in line for some Service, Bodyshop and Valet treatment. Then, who knows, it might actually make its way to the forecourt and be exposed to the chance that someone will buy it!
Having a standard 'preparation process' to get the car quickly and effectively through the workshops and out on sale is critical to maximising the profit opportunity and company cash flow.
Most businesses have got much better at this, but as the picture shows, some have a long way to go.
Maybe take a walk around your own dealership, and hope that nothing surprises you?

 

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