Category: dealer

The electric vehicle (EV) market has been growing at an impressive rate in recent years, and it shows no signs of slowing down. With advancements in battery technology, greater public awareness of sustainability, and more incentives for green energy, consumers are becoming increasingly drawn to EVs. At inride, we’re witnessing a surge in EVs listed on our auction platform, and this influx presents a unique opportunity for dealerships. 

Dealers looking to enhance their used car inventory and drive revenue should take note: EVs are not only here to stay, but they’re also proving to be money-makers in the used car market. 

As more consumers populate the electric landscape, they’re trading in their old EVs for new models, leading to a greater supply of pre-owned electric vehicles on the market. This opens the door for dealerships to take advantage of this rapidly growing segment by offering a diverse range of electric cars to consumers who may not be ready to make the leap to brand-new EVs.

The platform’s data shows a significant rise in EV listings over the past year, with models ranging from luxury electric sedans, like the Audi e-tron, to compact and affordable electric SUVs like the Nissan Leaf. By leveraging inride’s auction site, dealers can stock their lots with these high-demand vehicles, benefiting from both competitive pricing and growing consumer interest.

Dealerships that invest in EVs now will be ahead of the curve in capturing a segment of the market that’s set to expand. While new EVs can carry a hefty price tag, used EVs are becoming more accessible to a broader range of consumers. This makes used EVs a lucrative opportunity for dealerships, allowing them to tap into buyers who want to go electric without breaking the bank.

Consider these key advantages of investing in EVs through inride:

High Resale Demand: EVs are not only a popular choice for new car buyers, but the demand for used electric vehicles is also on the rise. Consumers interested in sustainability, cost savings, and avoiding fuel costs are eager to find used EVs.

Tax Incentives and Rebates: Many used EVs still qualify for state and federal tax incentives, some up to $5,000. Dealers who are knowledgeable about these programs can position used EVs as even more attractive to buyers. Dealerships are also one of the only ways for interested buyers to take advantage of certain incentives, meaning you could position yourself as the go-to for EVs in your area.

Lower Operating Costs: Electric vehicles aren’t just green in the ecological sense. They’re also known for their lower operating costs, thanks to fewer moving parts and the absence of an internal combustion engine. There’s also the comparative value in charging over standard gas that makes EVs very desirable for many drivers – not just eco-conscious ones.  Dealerships that stock EVs can leverage this in their marketing efforts, highlighting the long-term savings buyers will experience.

Increased Foot Traffic: Carrying EVs can draw in environmentally conscious buyers or tech-savvy consumers who may not have previously considered visiting your dealership. 

inride’s EV Auction Highlights: 

Here’s a sneak peek of a few of the electric vehicles that were made available on inride’s auction platform:

2021 Tesla Model 3 – A highly sought-after electric sedan with autopilot capabilities and a 263-mile range.

2020 Chevrolet Bolt EV – Known for its affordability and 259-mile range, this compact hatchback is a favorite among city drivers.

2019 Nissan Leaf – A pioneer in the electric vehicle space, offering a smooth ride and a range of up to 150 miles.

2022 Ford Mustang Mach-E – This electric SUV combines performance and style, with up to 305 miles of range and a sporty design.

2021 Audi e-tron – A luxury electric SUV that offers impressive performance and advanced tech features.

These are just a few examples of the EVs that have been posted on inride. By browsing the auction platform regularly, dealers can stock up on the latest in electric vehicle offerings.

In the competitive world of automotive sales, having a robust used car acquisition strategy is crucial for the success of any dealership. Used vehicles are a significant revenue driver, and sourcing quality inventory at competitive prices can make all the difference. But even if there are plenty of fish in the sea, or rather cars on the market, it can be difficult to find a consistent, reliable solution so your dealership stays stocked and your revenue continues growing. Enter inride—a game-changer for any dealership looking to enhance their inventory at a competitive, market-driven price. Through a nationwide auctioning system and constantly updating opportunities, it’s never been easier for dealerships to secure great deals on the models they need. Let’s explore just a few of the ways inride can help your dealership grow.

The Importance of a Strong Used Car Strategy

There’s really no point in sugar coating how much the used car market is booming. According to the National Automobile Dealers Association (NADA), used vehicles account for approximately 40% of a dealership’s total revenue. This large piece of the car-selling pie highlights the importance of a well-executed used car acquisition strategy. A steady supply of quality used vehicles not only attracts more customers but also ensures better profit margins. If you’re planning on staying in the green then you need to plan on getting used vehicles at a consistent rate.

Additionally, a study by Cox Automotive revealed that dealerships with a robust used car strategy saw an average increase in gross profit per vehicle of $400. So when you bolster your used vehicle lineup, your entire dealership benefits. However, this is all easier said than done. Sourcing the right vehicles at the right prices can be challenging. Traditional methods, such as trade-ins and local auctions, often limit your options and can be time-consuming. This is where inride steps in, offering a seamless and efficient solution.

Why inride?

Extensive Auction Network

inride’s platform connects you to a nationwide network of interested sellers, providing access to a vast array of vehicles that fit your specific needs. If you have a specific make, model, or even trim in mind – inride gives you the best chance at quickly finding it. Whether you’re looking for late-model SUVs, reliable sedans, or luxury cars, inride’s auctions have it all. This extensive network ensures that you’re not confined to local markets, thereby increasing your chances of finding the perfect vehicles for your inventory.

Competitive Pricing

Of course, finding the right car doesn’t mean much if you can’t turn a profit. There lies the second major strength of inride. 

Our auctions inherently drive prices down as sellers compete for the best offers. Because of the expectation that bidding will provide high returns, there’s a competitive environment that allows you to purchase vehicles at prices significantly lower than retail, maximizing your profit margins when you resell them on your lot.

Transparency and Trust

It’s important to be confident that what you see is what you get, that’s why inride’s platform is designed with transparency in mind. Before a vehicle enters the inride auction, an in-person vehicle inspection is completed. This transparency builds trust and ensures that you’re making informed purchasing decisions. No more surprises when the vehicle arrives at your dealership. inride’s platform not only helps you tap into these profit opportunities but also simplifies the acquisition process, saving you time and effort.

How to Get Started with inride

Sign Up and Explore

The first step to enhancing your used car acquisition strategy with inride is to sign up on the platform: https://auction.inride.com/#/pre/home/login. Once an approved dealer, you can explore the extensive auction listings, and find vehicles that match your dealership’s needs.

Participate in Auctions

inride’s user-friendly interface makes participating in auctions straightforward. You can place bids, set maximum bid amounts, and monitor the progress of each auction in real-time. The platform also allows you to select a seller’s “Buy Now” price if you’re looking to secure a vehicle immediately.

Secure Your Inventory

Once you’ve won an auction, inride handles all of the logistics, including vehicle delivery. This streamlined process means you can focus on selling vehicles rather than worrying about the fine print. 

Recap

inride offers a powerful platform that revolutionizes how dealerships acquire and sell used vehicles. With access to a vast auction network, competitive pricing, and a transparent vehicle condition inspection, you can bolster your inventory and boost your dealership’s profitability. Don’t miss out on the opportunity to transform your inventory and drive your business forward.

Ready to enhance your used car acquisition strategy? Visit inride.com to learn more and sign up at https://auction.inride.com/#/pre/home/login to discover how inride can help you secure the best deals and keep your lot stocked with quality vehicles. Join the growing number of dealerships that are experiencing the inride advantage and take your business to the next level.