Using Analytics to Improve Retail Performance: There are hundreds of numbers to measure and manage pre-owned operations - total sales, front-end gross, back-end gross, wholesale gross, VDPs, SRPs, click-through rates, conversion rates, turns, days to sale ... the list goes on and on.
But a few numbers stand above all others when driving the success of your dealership. These are the three key metrics that drive pre-owned performance:
Sweet Spot Sales: The percentage of vehicles selling between day 0-30.
Aged Wholesale Give-Back: Gross profit given back from aged wholesale loss.
Retail Sales Efficiency: Percentage of vehicles selling between day 0-60.
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