Given the rapid depreciation rate of used car values in the recent market, it’s critical that car dealers get their stock turn policy right first time.
Many will look to reduce their price to get a quick sale and avoid additional stocking costs.
Others will try to hold onto the vehicle for as long as possible until they get the desired price, particularly given the shortage of some models.
Motor industry expert Mike Jones says dealers need to base their stock policy on their own selling track record and the opportunity to sell the vehicle.
“First, they need to look at what they have been known for and are good at selling,” says Jones. “Then they need to look at what the opportunity is in the market.”
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