Tackling the largest problem going through the independents within the used automobile market – inventory acquisition – and urging sellers to embrace EVs to assist futureproof their companies is a part of the remit of Impartial Motor Seller Affiliation’s (IMDA) session at Automotive Administration Reside 2022 on November 10.
IMDA chair Umesh Samani will share his insights when he hosts an AM Reside panel dialogue, entitled ‘5 methods to excel as an impartial used automobile supplier’, at this yr’s AM Live event for the UK motor retail industry, being held at Birmingham’s NEC.
Samani can be joined by fellow company Stuart Saunders, fellow IMDA founder and managing director of the City Automobile Firm, Cambridge, and IMDA colleague and Jim Learn, managing director of Jim Reid Car Gross sales and Service, Kintore, Aberdeenshire.
The panel will discover present points and the right way to succeed because the cost-of-living disaster deepens. While inventory acquisition continues to plague used automobile sellers, Samani will clarify why he by no means buys from auctions and the way forging native relationships gives a supply of autos and prospects.
He mentioned: “Independents are going through massive challenges in inventory acquisition with the likes of enormous organisations equivalent to Cazoo and Motorway taking big slices of the inventory alternative. Franchised sellers don’t face fairly the identical degree of inventory acquisition issues since a lot of their forecourts are stocked by part-exchanges. I by no means purchase at public sale however purchase all my inventory privately which depends on constructing relationships domestically and endeavor focused advertising at grassroots degree.
“Considered one of our IMDA members, for instance, is experimenting with extremely focused promoting on Sky.
“As a sector, we additionally want to make sure we’re advertising our autos correctly together with checking the spec and highlighting options prone to entice enquiries while pictures and video are essential. As a sector, we additionally want to make sure we’re responding to prospects in a well timed method so that they don’t merely transfer onto the following enterprise on account of an absence of response.”
The panel dialogue, which varieties a part of AM Live’s Operational Excellence theatre and is sponsored by Oodle Finance, will even discover inventory funding, client car finance and the significance of embracing the fledgling used EV market.
Samani added: “As impartial sellers we’re a bit bit fearful of promoting EVs. We ran a ballot by the IMDA not too long ago and the vast majority of our members have determined sit again and wait relatively than get entangled in a market the place they don’t seem to be comfy and lack confidence.
“The sensation may be very a lot: why make investments some £30k for such a small margin? However the truth is, EVs aren’t going away and, as a sector, we have to attempt to get forward of the sport.”
As such, the IMDA is planning to host an EV expertise day for its members the place they may have the chance to drive EV autos and acquire the information and confidence to forge forward on this rising market.
AM Reside is free for each franchised and impartial retailers and producer delegates by reserving at https://www.automotivemanagementlive.co.uk/