I suspect you must be thinking “What is the nutcase writing about now?” Other than the words “candy” and “sexy” being used in the article there is not a lot of connection between the article and the title.
I’m a big believer in technology. It’s a great tool when it’s applied as such. I’m also a big believer in combining technology with good old common sense. One of the most exciting things about the used car business are the “sizzle cars.” Some people would call them “eye candy.”
“Sizzle Cars” may or may not always make you money. But they create excitement on the used car lot that’s hard to put into dollars. Over the years Chevrolet dealers as a whole never sold a lot of Corvettes. When people came into the dealership to look at other models there was a message that buying a Chevrolet is cool.
Any good used car guy or gal has used the term “that car has eyes.” The fact is you need some used cars on your lot that have “eyes,” “sex appeal” and create a little “sizzle.”
If you base what you are going to stock totally on data then these “sizzle cars” are going to get left out. Even though the Internet drives most of your traffic, there is still “drive by traffic” and your place needs to stand out. Yep, they may not buy that black Mercedes or red Corvette, or a jacked up Pickup Truck, but it sure gives them a little tingle when they see them. The more tingles they get the more likely they are to hang around and buy something.
So, the question would be how many “sizzle cars” can you afford to have? How about 5% to 10% depending on the size of your inventory. If you had 50 used cars in stock that’s only 3 to 5 “sizzle cars.” If you had 100 then it’s 5 to 10. You can do your own math.
The key to these “sizzle cars” being effective is that you don’t let them stay around very long. They get a 20 to 30 day window then down the road. When I say down the road I’m talking about retailing them, not wholesaling them. When you price them, don’t shoot for the moon. Just put them out there at a price that will allow you to capture a retail customer who you would never get a shot at and at the same time they will be creating a “buzz” on your lot.
The American public still loves the automobile. Even though they may be practical and drive a four door sedan, van or SUV, don’t think for a minute that they don’t get excited when they see a “sexy car.”
Regardless of the technology and data that supports what we stock we are still in the car business and the people business. People like excitement and enthusiasm. Add a little candy and sex to your life. That’s all I’m gonna say. Tommy Gibbs