Eliminating Aged Inventory Pt. 2

Each week All Things Used Cars brings together top operators and thinkers to reimagine the retail auto industry's many aspects. Then ASOTU tries to turn that hour of power into a short easy-to-skim piece of this email.

This week we are in for a special treat because the founder, facilitator, and host of All Things Used Cars, David Long, shared his notes with us and we will share them with you.

In addition to the below notes, you can listen to a full replay of "Top 10 Ways To Eliminate Aged Inventory, pt. 2" on Clubhouse or plan on joining the community for the next talk every Friday at 9 am EST/6 am PST.

1. Benchmark your process, create your strategy, and review it often.
2. A solid appraisal process so you can get the prices right on day one.
3. Increase speed to retail.
4. Think of a 30-day supply as a two-week supply X2
5. Base prices on the market day supply of the car
6. Focus on your 10 most expensive vehicles.
7. Use your tools.

1. Use Google Analytics trends combined with Polk data.
2. vAuto heat sheet report

1. Color code used cars. Yellow- Orange- Red. When a car is orange, drive the car home.
2. Leverage all partnerships.
3. Establish and protect a daily trade walk. Act on every thing you notice - tires, lights, oil changes, updated pictures, weird smell, etc.