Amidst the massive inventory issues, the automotive industry has taken quite the hit. Dealership lots that have become accustomed to being full are now nowhere close to capacity, thanks to various chip and parts shortages.
Despite the situation, the automotive industry continues to push through using three key ways to guide the consumer through inventory issues. For more tips and information, feel free to visit our Resources page.
Pushing Custom Order Vehicles
While they may take longer to be delivered than a standard vehicle already on the lot, there are a lot of upsides to custom order vehicles. For example, emphasize the ability to choose to your consumers — custom ordering a vehicle allows the customer to take a step further, choosing which features they most covet and leaving out the ones they don’t.
Rather than compromising on a design detail or letting go of one feature they may want on a more expensive trim, the custom order process lets your consumer drive exactly what they envision.
Emphasis on Used Inventory Selection
The industry is struggling to pump out new vehicles, so why not work with what you have? Point to the diversity within your used car inventory, whether it be different makes or discontinued models. Used cars also experience much less depreciation compared to newer models, which may be an easier pill to swallow for consumers on a strict budget.
Hosting used car sales and events is also a great way to get attention on your used inventory, which leads to our third strategy.
Market and Time Your Sales Events Wisely
Is there a holiday coming up? A change in season? Don’t wait until the last minute to market your sales events. If you’re looking to give discounts on leasing specific models or cutting a chunk off a used car price, make sure that the surrounding area knows about it ahead of time.
This gives potential consumers the opportunity to plan, budget and take advantage of a good deal. With inventory as scarce as it is, people may be waiting for a price they’re comfortable with, which makes a well-marketed sales event a golden opportunity.
This tip also stretches beyond the automotive industry — if you’re having issues with inventory and are looking to pump some adrenaline into some sales, make sure your consumers know about deals or specials ahead of time.
Inventory issues should pass, but keep these three points in mind in the meantime. Stay up to date with our PCG Digital blog to learn more about content, SEO and more.