Challenging the Status Quo to Establish a Seamless Vehicle Sales Process
In today’s fast-paced business environment, time is always of the essence and as the saying goes, time is most certainly money. In fact, this old adage is particularly true when it comes to disposing of fleet vehicles. Let’s face it, your fleet vehicles represent a significant investment for your company and once they’re no longer needed, you want to liquidate these assets as quickly as possible to generate capital that can be funneled back into your business. During the disposal process, you often have to choose between maximizing returns or minimizing time-to-sell; but what if you could do both?
Here’s how one organization embraced a holistic remarketing approach to simultaneously increase revenue and reduce days to sell.
Typically, selling fleet vehicles at the end of their useful lifecycle is a delicate balancing act of generating acceptable returns while also maintaining a reasonable time-to-sell. However, as vehicle proceeds began to dip and days to sell approached nearly three months, the disposal manager of a leading automotive financing company knew they had to find a better disposal strategy to ensure their organization was able to maintain the liquidity it needs to efficiently conduct business. Before making any dramatic changes, the disposal manager engaged the ARI Remarketing Solutions team to discuss their challenges and explore opportunities to improve performance.
The customer and ARI Remarketing Solutions conducted a thorough evaluation of the organization’s current disposal process and determined that a series of minor changes would likely yield significant improvements. Together, this team developed a comprehensive remarketing solution designed to:
- Streamline the titling process
- Better leverage partnerships with key auction vendors to maximize vehicle exposure to preferred buyers
- Ensure certified remarketing professionals would represent each unit, adjusting to market conditions in real time
With this holistic strategy in place, the customer and ARI Remarketing Solutions launched a three month pilot program to assess the impact of these changes; it took only six weeks for results to exceed all expectations.
Through their willingness to challenge the status quo, the customer was able to establish a seamless sales strategy that allowed them to recover more value from their vehicles and dramatically increase the speed of the entire process.
To learn more about embracing holistic fleet strategies throughout the entire lifecycle of your vehicles – buy, drive, service, and sell – to effectively manage your fleet as a strategic business asset, be sure to check out this interactive video series. And to receive important industry updates and though-provoking content about the latest fleet management trends, subscribe to The Morning Brake e-newsletter from Holman Enterprises.