Connected Car
While dealer groups lost focus on used cars over the past 30 years with all their attention on their new car franchises, we are finding that used cars now act as the platform for the best-practice dealer groups because used cars offer four distinct traits the new car department lacks. Chart 1The total used car market is about 3.6 million vehicles a year, some 2.5 million more than the new car market. Example: used car P&L (chart 3):Looking at CarMax and Echo Park in the USA as two successful but very different models to execute a used car only brand/concept, the below can be used as a guide as to how the best operators perform. If you need help in developing an example used car concept P&L and a sustainable used car model, Pitcher Partners will be able to support you during this business development phase. Used car prices increased in parallel to new car prices or even higher in some cases.