In this era of Big Data, sifting through pre-owned vehicle analytics easily leads to information overload. There are lots of numbers to measure and manage: total sales, front-end gross, back-end gross, wholesale gross, VDPs, SRPs, click-through rates, conversion rates, turns, days to sale … the list goes on and on. An e-book from FirstLook, Using Analytics to Improve Retail Performance, delves into these issues (click e-book title link to access and download).
FirstLook focuses on three key metrics that drive pre-owned performance…
1. Sweet Spot Sales: The percentage of vehicles selling between day 0-30.
2. Aged Wholesale Give-back: Gross profit given back from aged wholesale loss.
3. Retail Sales Efficiency: Percentage of vehicles selling between day 0-60.
Becoming skilled at managing metrics is being applied to making trade-ins a lot more profitable, sometimes doubling gross profit. Get the free e-book and learn more!
