Inventory acquisition challenges are an industry-wide issue with a profound impact on profitability. And while some dealers are choosing to “wait out” the inventory shortage, others are succeeding now. Implement these five service strategies to overcome inventory obstacles and supply chain challenges at your dealership.
- Strategy 1: Service Records—Use technology to look for acquisition opportunities, including past shopping behavior, expiring leases and frequency of repair visits.
- Strategy 2: Trade-In Reminders—Make offers for repair-pone vehicles and use technology to give customers a chance to tell you they’re trade-in ready.
- Strategy 3: Sales-to-Service Communication—Bring sales and service teams together to identify prospects and seek out wanted cars.
- Strategy 4: Declined Services—Have a process in place for acquiring a vehicle when customers decline service recommendations.
- Strategy 5: Dealership-Wide Plan—Ensure marketing, sales, and service are all in sync, connecting workflows across departments, to accomplish inventory acquisition goals.
With these five proven service strategies, you can outlast current supply chain challenges to keep profits high, even as inventory is low.
To learn more about these strategies and other tips for acquiring inventory, check out our guide, “Service Solutions for Inventory Challenges.”