Used Car Business Management
For used car business building trust is vital. Successful used car business is not only about the ability to find quality cars at great prices, but it is also about the ability to fix cars and make them more valuable.
To succeed in this business, you must Put together a team of experienced professionals; Secure an excellent high-traffic location; Establish a network of suppliers, in order to buy and sell products that are of the highest reliability and quality, at a competitive price; Ensure customer satisfaction by encouraging the two most important values, honor and integrity; Create high morale by rewarding employee success with monetary compensation.
Most manufacturers have now developed a Used Vehicle Program. Some work, some don’t; we know what makes the difference and how to sustain it over time. The Used Vehicle Support Program from STEPUP has three main objectives: to help optimize residual values; to develop the used car departments within your dealership into stand-alone, fully accountable profit centers; and to ensure that potential customers recognize the best place to buy a used car is from your dealership. We achieve this by supporting manufacturers and dealers at every stage of their Used Vehicle Program journey, from operational strategies and retail concepts, to dealer training, audits and reward plans. Our passion for the used car business, combined with the knowledge and expertise of our consultants in the markets, helps you to generate the results that you’re seeking.
Certified Pre-Owned Program
STEPUP can develop the CPO program to manage the used vehicle label in the network to improve UV volumes and profitability. Our CPO programs can generate various benefits such as:
- Increase used vehicle sales and profit in the networks
- Increase loyalty to the dealer, to the car manufacturer and the value of its products
- Increase purchases from OEM (buy-back / company cars)
- Create awareness of existing offers of used vehicles
- Expand market shares. Improve trade-in
- Make a motivated and profitable network
STEPUP services can cover:
- Market benchmark: environment, customer expectations, positioning and best practices
- NSC & dealers’ analysis, expectations, capacity and return on experience
- Design Certified Pre-Owned program: customer promise, standards, handbook
- CPO program analysis: performance assessment and best practices
- Implementation in a market
- Coaching the dealer
- Establishing an analysis of the business management: Action plan, KPI monitoring, and Continuous Improvements