CARY, N.C. –
As portion of our “Finest CPO Dealers in the United States” edition this winter, Auto Remarketing reached out to several of the top-selling Hyundai dealers regarding certified pre-owned supply.
We asked them to share several of the strategies they usage to guarantee there’s sufficient CPO inventory on the lot.
“We are in a fortunate situation that we develop our own CPO inventory,” said Scott Fink, the president/chief executive officer, Hyundai of Brand-new Port Richey — Hyundai’s top-selling CPO dealer and Auto Remarketing’s 2014 CPO Dealer of the Year.
“We trade our Hyundai owners from their vehicles aggressively in an initiative to accomplish two goals: No. 1. Sell one more Brand-new Hyundai. No 2. develop one more CPO Hyundai that we can easily market. This strategy allow us to guarantee we have actually a durable inventory from sedans to crossovers to benefit from the CPO requirement in the market place. We have actually yet to have actually to visit the auctions (on site or online) to buy inventory.”
Over at Lester Glynn Hyundai — which ranked fourth along with 771 CPO sales in 2015 — president Adam Kraushaar said: “Very first strategy is to actively job the service drive. We are pretty successful in upgrading owners of 1-3-year-old vehicles in to Brand-new vehicles. Generally, those trades are really well maintained. We can easily place a a lot more aggressive ACV due to the fact that we understand the reconditioning cost will certainly be minimal.
“Every lease turn-in goes through the procedure to figure out if we wish to own the car. Very first we attempt to do that at the moment the individual is buying a Brand-new car. If it doesn’t make sense we ground the Vehicle and get hold of a market based fee … Finally, our fleet of loaner cars come out as certified.”
At Rick Case Hyundai in Plantation, Fla., general manager Leroy Larson says that an optimal scenario would certainly be for the store to get hold of every one of its supply in as trade-ins then sell each of those customers a Brand-new car, yet he acknowledges “that’s not realistic.”
However, the store has actually discovered victory through a variety of methods, including reaching out to its customer database and offering to either trade those customers from the Vehicle or buying their cars outright, also if the shopper doesn’t purchase a Brand-new car.
In fact, Rick Case Hyundai advertises that it buys cars from consumers.
The dealership likewise functions the service lane to discover optimal trades, Larson said, and offers those consumers higher values on the trade or reduced purchase/lease payments. They might likewise transform to the factory sales in the auction lanes
At Jim Ellis Hyundai, Wesley Ellis — that is the vice president of Jim Ellis Hyundai/ Jim Ellis Volkswagen of Atlanta — said the store’s strategy is to strike auctions, its own internal database and sourcing the waiting room of its service department.
Finally, Lenny Checheris, general manager of Luther Bloomington Hyundai, detailed his store’s strategy, a bit of which entails focusing on off-lease.
“We have actually constantly been strategic along with our acquisition of pre-owned Hyundais. We have actually discovered victory by acquiring vehicles through live Hyundai auctions, lease returns and using sourcing software in our service department,” he said. “We likewise earned a decision in 2011 to truly concentrate on leasing. Lease returns have actually been our Finest source for late-model, quality Hyundais. The majority of lease return vehicles were bought and serviced here, which provides a excellent history for our future Hyundai owners.”
The finish list of Hyundai’s top 10 CPO dealers for 2015 is as follows:
1. Hyundai of Brand-new Port Richey 1,344
2. Rick Case Hyundai (Plantation) 1,104
3. Hardin Hyundai 802
4. Lester Glenn Hyundai 771
5. Jim Ellis Hyundai 763
6. Doral Hyundai 724
7. Planet Hyundai 703
8. Conicelli Hyundai 612
9. Hyundai of El Paso 604
10. Luther Bloomington Hyundai 588