Unpacking the Used Vehicle Market: Phoenix Used Vehicle Market Study
How Can Your Brand Maximize Used Car Vehicle Potential?
As a key component of an Automaker’s retail strategy, the Used Vehicle sales process has a lot of elements that influence what is purchased and from what channel. Used Vehicles in the OEM branded network are crucial to the dealer revenue model and to the Manufacturer because ultimately the customer is looking for OEM endorsement and believes that their CX standards will be applied to Used Vehicle interactions at the dealership.
Understanding the customer process allows brands to recognize which areas provide the best opportunity for profitability and longer-term loyalty beyond the immediate sale.
The new, post-COVID normal presents many challenges for the Auto industry. It has also seen a major uplift in Used Vehicle volumes and Residual Values as markets emerge. An already hyper-competitive marketplace has been made even more competitive in 2020.
The Phoenix Used Vehicle Market Study is a timely and invaluable resource to navigate who is buying, what is important to them, and why they choose the Brand and Channel with so many options open to them.