More than halfway through the year, auto sales are booming – consumers everywhere are making the choice to upgrade their cars and trucks. But while 17 million new vehicles are expected to roll off dealer lots in 2015, even more already-owned vehicles will be staying put, tucked safely away in driveways and garages across the country.
In fact, a record 258 million vehicles are in operation today in the U.S., a year-over-year increase of about 5 million cars and trucks. Thanks largely to improved vehicle quality and lingering economic forces, this enormous segment of vehicles is a prime area for dealerships to target to fill their used-car lots. By exploring new inventory acquisition channels, specifically those geared toward current vehicle owners, dealerships can decrease their dependence on competitive auctions while also reaching an incremental audience of potential buyers.