As you fill your lot with 2019’s newest arrivals, lingering 2018 vehicles can pose a problem. Last year’s inventory takes up valuable space on your lot and distracts shoppers from the newest offerings.
At this point, you have a couple of options. You can either increase your discounts and incentives, or you can merchandise your way out. Either way, you need to get old models gone by March. Once springtime comes, 2018 will seem well in the past. Weather changes and spring break contribute to this perception, and anything last year is, well, last year.
Here are 10 merchandising ideas that can turn last year’s models into traffic and profit opportunities.
Keep in mind that hot product builds traffic, and traffic is the only way to remedy or prevent an inventory problem. At the same time, it has never been easier to turn a negative into a positive this time of year. Social media, your website, and email let you tell a compelling story of why these remaining models are a new vehicle buyer’s opportunity.
John Paul Strong: As owner and CEO of Strong Automotive Merchandising, John Paul Strong brings more than two decades of advertising experience to the table. He is the author of Next Day Traffic and leader of 100+ employees servicing more than 230 clients across the country. In 2018, John Paul was listed in the Birmingham Business Journal's Top CEO Awards and 2013's Top 40 Under 40.