Buy Now, Buy New, Buy Better - this philosophy once dominated sales, with consumers seeking the latest in engine upgrades. Performance, rather than affordability, propelled every decision.
Now, however, value reigns supreme. An ever-changing economy - fuelled by promises of recession, inflation, and stagnant wages - has the new generation of consumers measuring the cost of every rev; and often new vehicles are ignored for their used (reliable) counterparts.
Is your dealership ready for the change?
Understanding The Used Car Market
The preowned market is soaring - with drivers exchanging next-gen performance for affordability. This shift reflects uncertain economic trends, as well as the rise in new vehicle pricing (with critics reporting an average 11.9% increase across the sedan, sport utility, and compact segments); and it proves the need for an expansive used inventory. Consumers are seeking alternatives to expensive makes and models, with the projected growth rate for sales reaching an astonishing 6.1% per year for the next decade.
Why are drivers changing their shopping habits? Value proves the deciding factor - with 61% of consumers reporting price as their main concern when selecting a vehicle; 40% reporting brand recognition and model familiarity; and 34% reporting available package upgrades and incentives.
It is no surprise, therefore, that 40% of drivers in 2022 switched from new models to used; and this number is anticipated to grow in 2023. This leads to a massive opportunity for local demographic targeting and increased outreach for dealerships... if they implement a search-optimized strategy.
Over the past decade, we’ve perfected a unique used marketing process and developed our own set of tools to showcase vehicles in search and on social media platforms. We’ve helped dealerships in the US and Canada achieve a surge of leads and brand awareness by applying our proven methodologies - earning over 230% in sales volume for some clients and helping them overcome the challenges of digital broadcasting.
... research used vehicles online.
... rely on dealerships for pricing information.
... rely on dealerships for vehicle comparisons.
... rely on dealerships for reviews and consumer ratings.
Allow OBBAuto to help.
Through our signature, patent pending processes we can deliver huge value for your dealership - generating leads, enhancing brand outreach, and connecting your consumers to the inventory options they’re searching for. Let us elevate you to the next level:
We’ll build a bespoke used web presence that sets you apart from other dealers.
We’ll work with you to integrate remote selling
We’ll develop an evergreen marketing strategy using our proprietary visibility platform.
We’ll arm your sales team with tools to turbocharge your sales, while enhancing your team’s profiles with our patent pending automation tools.
We’ll show you how to harness and automate the new trends in digital.
We’ll integrate a proven and workable subprime process.
We’ll create dynamic ad and content campaigns to grow your brand organically.
We’ll expand your used operations.
We’ll feature your inventory on all vehicle shopping platforms.
The used market is expanding - and your dealership needs to claim the local segment. Allow OBBAuto to fuse your website with a suite of proven tools and marketing strategies to propel your brand. Contact our team today to begin your consultation.