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Clive Brook Group, Drive Motor Retail, Hendy Group, Inchcape Retail and Jemca Motor Group have all ramped-up their acquisition of private used car stock in 2021.
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15 ways you can boost your used car profits
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1: Stock profile tools
Taking advantage of sophisticated tools can help to identify which models are most likely to sell in a particular area.
Using data from third parties to determine the best stock profile is being adopted far more widely in the sector. However, dealers also have such information in their dealership management systems (DMS). The trick is to extract and analyse it.
According to CDK, which provides its Autoline DMS solution to more than half of all UK franchised dealerships, dealers with a DMS that is integrated across every business function and across multiple dealer group sites will be best placed to manage used car stocks intelligently. Group-wide profiling enables the quick identification of fast-moving stock and helps prevent overstocking with slow-moving, less profitable vehicles.