Facebook to Sell Cars?

Are you effectively using your Facebook page to help move your inventory? Is your dealership using Facebook at all? According to a post on About.com, consumers in the market for a used-car can should use Facebook as a resource to find a car. By “friending” dealerships and keeping track of what inventory they have that may be of interest to them, consumers can make their search for a used-car, easier. Of course the car buying process is more complex than that but Facebook can be yet another online resource to reach a potential customer and show your used-car inventory.

To read full article on About.com Used Cars, please click here.

“adapt to an online world or die”

The clear message during a meeting at the National Independent Automobile Dealers Association convention was, “adapt to an online world or die.” Used-car dealers are for the most part late adopters to using online resources to advertise & engage with consumers. The opportunity to reach consumers online is huge according to a survey presented that shows 57% of people talk more to people online than in real life and used-car buyers said the internet was the, “most influential information resource” they use in car buying usually starting their search with sites like Cars.com or AutoTrader.com.

To give you an idea of the customers process when using the internet to find a car, these are the first few sites a consumer goes to when car shopping:

1. The car dealer’s website
2. AutoTrader.com
3. Kelley Blue Book
4. Manufacturer’s websites
5. Cars.com
6. Craigslist

For used-car dealers, being online is essential and just as important is monitoring their reputation in this market.

To read full article in Used Car News, please click here.

What’s Affecting Used Car Supply & Values. . .

According to Kelley Blue Book the increase in used car prices will not only continue to rise but inventories will get even tighter. Kelley Blue Book sees auctions as a vital predictor of what’s to come in the used car market. They are where supply and demand meet for used vehicle market and what they’re seeing in auctions is less used vehicles to choose from and higher wholesale prices.  The reason for that is due to the 2008 slow down in new car sales which is now resulting in shortage of used car inventory. If companies and dealers are able to look at auctions as indicators of what is to come, they can plan on how to prepare and also how to take advantage of the current used vehicle market and their inventories. The effects of the 2008 new car sales slowdown which caused wholesale used car prices to go up is expected to continue to drive these prices higher since inventory will get even tighter.

To read the full article in Auto Remarketing, please click here.