Managing aged inventory is a common challenge for car garage owners, especially with the introduction of new registration plates and models.
Effectively clearing old stock is crucial to maintaining cash flow and making room for new vehicles, so what are the best strategies to use? There are a few tried and tested strategies to utilise that should help you navigate this process.
Keep reading to discover a few strategies that should help you reach higher levels of success and ensure healthy cash flow.
Leverage the Introduction of New ’25 Registration Plates
With the release of the ’25 registration plates on March 1st, 2025, customers are keen to purchase the latest models. Use this opportunity to offer attractive deals on existing stock to make room for new vehicles.
Immediate availability and competitive pricing can entice buyers and help you shift old stock to make way for the latest models.
This will also help you attract a wide range of customers, including both those looking to make savings on new cars as well as those looking to invest in the very latest models.
Implement Targeted Promotions & Discounts
Offering special promotions or discounts can create a sense of urgency and attract buyers to older inventory, particularly during a time when the cost of living is so high, and many are putting off major expenses like brand-new cars.
Seasonal promotions, clearance events, or bundled offers with other products can be an effective way to move aged stock.
Ensure these promotions are well-advertised through various channels to maximise reach. This should include using social media to reach a wide audience, including Facebook, Instagram, and X. You can also make use of traditional forms of marketing, including flyers, local paper adverts, and radio adverts to reach local customers.
Utilise Pre-Registration Tactics
Pre-registering vehicles can help in reducing old stock by allowing you to sell them as nearly-new cars at a discounted rate. This approach can appeal to customers looking for new vehicles at a lower price point, thereby accelerating stock turnover.
Explore Vehicle Remarketing Channels
One of the most effective strategies for clearing old stock is to utilise vehicle remarketing channels. This can include the use of car auctions, which can help you efficiently clear old stock by reaching a much broader audience, including dealers and private buyers, which can facilitate quicker sales.
It can be frustrating as a car dealership owner when you are struggling to shift old stock, especially when you want to make way for the desirable new models.
The strategies mentioned above are all effective methods that should help you clear stock, boost sales, and make room for the latest vehicles. Hopefully, this will help you maintain a healthy cash flow and achieve higher levels of success with your business.
