Selling Cars is difficult at the best of times, times that by ten in a Weak Economy! As inflation continues to rise, forcing Emiratis to limit their spending, it’s safe to say it has never been harder to sell cars in the UAE.
However, there are strategies that your dealership can use to sell cars during a challenging and weak economy.
EasyCars has put together 5 ways your dealership can sell cars during a weak economy.
1. Find Cheaper Ways to Source Cars
The biggest obstacle when it comes to selling vehicles during a weak economy is price. When the economy is down, people limit their spending. The only way that your dealership is going to be able to sell cars during a weak economy is by finding cheaper ways to source vehicles and selling at a cheaper price.
Think about it if your prices are high, how will you convince a customer to buy if they are already under stress from their other daily living expenses? It’s no question that people will always need Motor Vehicles but in a weak economy they are not going to pay top dollar for it.
Try to look for cheaper ways of sourcing vehicles. The cheaper you can source a vehicle, the cheaper you can sell a vehicle for whilst still maintaining a healthy profit margin. Sourcing and selling cars at a cheaper price is by far the best way to sell more cars during a weakened economy.
2. Adapt to Market Changes
The UAE Automotive Industry is constantly changing. In saying that, it is vital that your dealership changes with it to ensure sustained success.
When the economy changes, people’s spending habits change. It is important that your dealership is across any recent changes and adapts your offering to reflect what is happening in the industry. To sell more cars during a weakened economy your dealership needs to give customers an offer that meets their current needs and financial position.
3. Research What Your Competition is Doing
To be successful in any industry you need to offer customers something that they cannot get elsewhere.
It is important that your dealership researches what your competitors are doing, what cars they are selling and most importantly the prices that they are selling their vehicles for. Once you understand that, try to offer a deal that either matches or ideally betters what they are doing. Having the best deal will lead to increased sales opportunities and conversions.
4. Implement Cheaper Ways of Operating
As costs continue to grow it is essential that your dealership finds and implements faster, cheaper ways of doing business.
Transitioning your processes from labor to technology is a far cheaper solution that will give your dealership more time to focus on the customer and closing sales.
Implementing a dealer specific management system like EasyCars will give your dealership the power to automate many tasks like Stock Management, Vehicle Advertising, Reporting, VAT Calculations and more. A dealer management system will save your dealership time, money and will allow you to sell seamlessly in any economical environment.
Related Article: Tasks UAE Dealers Can Automate Using a Dealer Management System.
5. Think Outside of the Box
This point is super important. The key to selling during a weak economy is standing out from the competition. Your dealership needs to grab a customer’s attention and offer them something that they cannot find elsewhere.
To capture a customer’s attention, you will need to think outside of the box. Try to find new ways of selling and advertising. You need to make a customer stop and look at your deals over other sellers. The more unique and engaging your dealership is, the easier it will be to sell during both a weak economy or a good economy.
To sell cars during a weak economy you need to adapt and offer customers a deal that they cannot get elsewhere. The 5 tips presented are a few good ways you can sell cars in the UAE during a weak economy.
We hope you enjoyed reading this article. To read more articles like this, please visit the EasyCars latest news page here.
EasyCars by Jeal is a UAE Motor Industry Specific, Dealer Management Software that automates the daily tasks of running a motor dealership. Using the latest technologies, EasyCars removes frustrations experienced at the dealership - opening the doors to future growth.
EasyCars features include Simple Stock Management, Automated Advertising, Automatic VAT Calculations, Xero Accounting Integration, Facebook Automotive Inventory Ads, Dealer Websites and Business Reporting in the one central management software.
To learn more about EasyCars or to arrange a no-obligation free demo of the software, please submit the form below.