August 8, 2022
A Refresh of The Supply Box
We’ve released a minor change to TradePending’s market report this morning that providers a simpler approach for both consumers and dealers to understand the local supply of a trade-in.
Previously, we showed pins on a map where similar vehicles were for sale, sometimes leading to confusion as to what those pins represented. With this design update, we’re showing how the supply of a vehicle has changed in the consumer’s local market over the last 90 days.
Below are a few before and after examples.
BEFORE – Supply Increases
AFTER – Supply Increases
Talk Tracks for Increasing Supply
If the supply has increased, focus your talk tracks on using the data from the market report to explain “There’s more supply in the area, which means that your vehicle will likely take longer to sell, and thus at a lower price point”.
You can use this as a way to hold gross and adjust a customer’s expectations as to their vehicle’s worth in a non-confrontational way.
BEFORE – Supply Decreases
AFTER – Supply Decreases
Talk Tracks for Decreasing Supply
If the supply has decreased, focus your talk tracks on building urgency. Lower supply means that a customer’s trade is likely more desirable. As a result, it’s a more valuable vehicle that your dealership is eager to take in.