The first step to remaining competitive in today’s changing auto retail environment is to acquire the right vehicles at the right price. Unfortunately, we all know it’s not as easy as it sounds: the auto retail industry is currently characterized by shrinking margins, growing competition from digital players, transparent pricing information, and increasingly frustrated consumers. Oh, and don’t forget, highly volatile consumer demand. These unfortunate circumstances create vulnerabilities and challenges for dealerships from the beginning of the sales process. It is essential for auto dealers to understand not only market demand and their store’s performance with specific vehicles, but also how to appraise vehicles in order to turn a profit while maintaining trust with car buyers.

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