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Shift old stock at auction

Time 13 years ago

CAR dealers can make room for fresh stock by using motor auction houses to dispose of harder-to-sell older vehicles, according to the Society of Motor Auctions (SMA), part of the Retail Motor Industry Federation (RMIF).

 

Louise Wallis, head of the SMA, said: ‘The current trading climate is proving to be more challenging for dealers than in the last few years, so it is important that dealers make sure that the stock on their forecourts is fresh.

 

‘If a vehicle is not selling it is better to move it off the forecourt as quickly as possible.


 

‘Many dealers may forget the cost of keeping a vehicle on the forecourt, when taking into account depreciation, along with regular cleaning and advertising costs. There is also the issue of a hard-to-sell car occupying valuable space on the site.’

 

If properly priced and presented, a vehicle can sell quickly at auction, but Wallis believes that dealers must be realistic about price expectations and reserve values. ‘When dealers enter the auction arena, they need to remember that the vehicle must be accurately priced.’

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Car Dealer has been covering the motor trade since 2008 as both a print and digital publication. In 2020 the title went fully digital and now provides daily motoring updates on this website for the car industry. A digital magazine is published once a month.

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