Used Cars Dealer
The used-car business has been one bright spot in a slow-growing automotive industry over the last few years. The rush to buy diesel cars a few years ago with the prices
of petrol being pegged to the open markets and then, the sales going down on account of the inability of the customers to buy new cars led to a visible growth in the used car volumes. This growth was supported by the investments the manufacturers made in growing the used car dealer network for used cars, branding and making it viable.
For the customers to pick this option. The role of the internet too cannot be undermined as a critical growth driver in this industry. Online marketplaces and auto sites have played a significant role in bringing the market to the consumers very effectively. The automobile is a very important means of transportation for every American. Statistics show that only about 40 percent of Americans can afford to buy a new car to serve their transportation needs. Many people find used cars to be an excellent value, providing quality transportation at a price that can be easily afforded. With sales of more than 41 million used cars a year totaling some $361 billion, there’s no question that a used car has value.
Many people don’t know where to turn to ensure they’re getting top value for their money, or what to look for in a used car. The National Independent Automobile Dealers Association, representing thousands of the top of used car dealers throughout the country, believes that the better informed you are, the more satisfied you will be in your used car buying experience. Texan Ride (972)546-3822
The best dealers seamlessly connect the virtual and the physical. Despite the digital transformation that is occurring in the automobile and other industries, the used car dealer is still an integral part of car buying. But because of their online resources, consumers are better informed and more independent than ever. To continue being relevant, dealers should offer more and better service, beginning with a showroom that’s both informative and entertaining. Shoppers increasingly expect advanced and interactive tools, such as 3-D configuration, touch screens, and automated data transfer to mobile devices — to provide a differentiated, personalized buying experience.
Loyalty — to brands and dealers — is on the rise. Over the past few years, OEMs(Original Equipment Manufacturer) and used car dealers have worked hard to improve the customer experience, and it seems that their efforts are paying off. Overall, loyalty is up from last year’s survey. (A point of interest: the owners of premium cars are more loyal than their “volume brand” counterparts.) A well-crafted service contract should unite OEM and dealer in delivering satisfaction, enabling them to respond to regional differences and specific customer demands. In addition, after-sales service is one of the most important reasons for choosing a vehicle (after reliability of the brand, price of the vehicle, and safety), according to 88 percent of the survey respondents (compared to 81 percent in 2011 and 77 percent in 2010); here, customer satisfaction in the service bay means likely future sales. Texan Ride (972)546-3822
The used car customers exhibit some consistent characteristics in terms of demography and the proposed use of their cars will be used for.
- 67% of the used-car customers are in the age group 26-35 years. In the western region, 80% of the customers are in this age group which is the highest across regions
- 22% of all customers are between 36-48 years of age. In the southern region, 29% of customers are in this age group which is the highest across regions
- 66% of the customers have 2-4 members in their family, 30% have 4-6 family members and the remaining 4% have 2-member families
- The largest segment of customers in the Northern region are small business owners at 53%. The Southern region has the highest number of private sector employees at 60% as used car customers
- A large number of the used car customers have a 4-year college degree. Approximately 88% of the customers from West are highly educated with a 4-year college degree or a postgraduate degree (Master’s degree, D.) professional degree (e.g., medicine, law). Similarly, more than 80% of customers from East and South also fall in the same category.
Used Car Dealer sometimes sells cars on consignment. In these cases, an individual may contract with the dealer to sell the car. The individual receives a stated price upon the actual sale of the car. The dealer receives either a fee or any excess of the sales price over the stated price agreed to with the owner.
One significant source of inventory for dealers is an auction. used car dealers use auctions both to buy and sell cars. Dealers use wholesale auctions, where only dealers are permitted to buy or sell. Most dealer transactions are handled by the wholesale auctions. There are also retail auctions which are open to the general public, which may be used by the dealers as well.
A combination of these developments made the business transparent, easy to understand and create pricing benchmarks making it a compelling proposition for those who could or did not want to buy a new car.
At the present time, the used carmarket is estimated at the same size as the new-car market. Only a few years ago, it was thought of as a third of the new car market.
While this market has grown rapidly and has become an important part of the automotive value chain, there is little information on the customer profile, buying patterns, business norms, etc. In our endeavour to bring relevant insights to our clients, we researched the sector and based on a primary survey, have come up with some interesting perspectives.Texan Ride help you to choice the best one, contact our team at (972)546-3822.