End the Year with Fewer Fleet Assets

With the shortage of new vehicles the automotive industry is experiencing, you’re likely keeping some of your older units in service longer while active vehicles await their replacements. But that’s not an excuse to hold onto everything in your inventory. Especially now that we’re into Q4. It’s a great time to turn the underutilized vehicles and equipment you own into cash before you close the book on 2021.

As far as fleet management best practices go, you should not be allowing dead or dying vehicles to take up space in your lots. What are your excuses for doing this?

“We’re keeping them for parts.”

  • Nope. Those parts are already old, and the longer they sit, the less reliable they become. Moving them to other vehicles is not a safeguard against downtime.

“They’ve lost all their value.”

  • Not likely. There are buyers out there for every vehicle and piece of equipment. You just have to connect with them through the right outlet and with the right price.

“We don’t even have them on inventory lists.”

  • Doesn’t matter. It only takes a few key pieces of information about a unit to determine a fair market value resale price.

Reduced consumer purchases of new vehicles means used vehicle inventory levels are historically low as well, which creates more demand for your idle but accessible used assets. As always, more demand = higher prices. You have plenty of choices for pairing up your vehicles and equipment with hungry buyers in an outlet that will earn you top dollar.

Here are some options that you can take advantage of before the end of the year:

Auction

Work with remarketing experts who have specialized knowledge relative to your vehicle or equipment types and trusted contacts at regional events that will showcase the value of your assets to a reliable audience base.

Employee Sale

Give your employees the chance to own that vehicle or piece of equipment they’ve been eyeing for a while for their own personal use. Sales can happen quickly, and you’ll be increasing employee engagement.

Seller Direct

Find sellers who have the means to purchase your inventory outright and quickly. You can negotiate a guaranteed sale price and avoid fees for transportation and cleanup all by the end of the year.

With all the challenges that are out of your control, now’s the best time to take advantage of the few opportunities the automotive industry does present to you. The chance to get good money for your underutilized vehicles and equipment before the end of the year is one of those.

If you’re looking for help in overcoming any obstacles or identifying remarketing solutions for your assets, Holman can help. Contact us.

Also stay up-to-date with auto industry news and other current happenings by signing up for our weekly newsletter, The Morning Brake, or monthly podcast, MOTIVE.