qr-play-store play store

Mini USA seeks higher used-car sales

30 May 2017
No comments
551 views
Mini USA seeks higher used-car sales

Mini executives want the brand's U.S. dealerships to pursue used-car sales with more vigor. Higher used-car sales would help Mini and its retailers at a time when new-car sales have slumped. So Mini USA launched a program at the beginning of the year that pays dealerships bonuses for hitting used-car sales targets. Each Mini store gets a customized target. If a store hits its target, it will receive additional margin of 1 percentage point of the vehicle's sticker price on each new-car sale.

 

 

Thomas Felbermair, vice president of Mini Region Americas claims that the used-car business is a huge potential for the Mini dealers in the U.S. The numbers show that dealers with a strong used-car business are the successful dealers. It's just a matter of focus. About a third of Mini's 127 U.S. dealerships don't meet the brand's preferred minimum standard for used-car sales. That would be to sell at least one used car for every two new cars sold. Mini executives say a ratio of one used car for each new car sold is ideal. Yet some Mini dealerships don't actively build their used-car inventories by buying at auctions or purchasing off-lease vehicles. It also helps to have a dedicated used-car manager or sales staff.

 

 

Maximizing used-car sales is especially important when new-car volume is suffering vs. previous years. Through the first four months of 2017, Mini's U.S. sales fell 12 percent from a year earlier to 13,732, following an 11 percent drop last year. The falloff comes as sales of Mini's cars have been pinched by a consumer shift to bigger vehicles amid low gasoline prices. Mini's annual sales in the U.S. hit a peak of 66,502 in 2013. Mini sold 52,030 vehicles last year in the U.S. U.S. car dealers welcome the used-car bonus program but they also want more support from Mini on marketing used Minis to consumers, plus better wholesale pricing for off-lease vehicles.

0 0
Comments:
No comments found
Leave a comment
  • Jaw-dropping deals this Spring at RepoKar
    27 Feb 2017

    Spring is right around the corner! With melting snow comes rising car sales. Longer days and brighter sunlight mean it’s the season to think about the best used cars for spring; vehicles that allow you to appreciate blue skies, while getting a head start to summer. The sooner you decide on your dream car, the greater the possibility of finding the best deals.  At RepoKar, we want to be sure that you've got everything you need to start the season fresh with a smile on your face. That’s why we’ve prepared amazing, hassle free used cars, trucks, and SUVs for our fr...

    0 2
    15
    1013948 views
  • General Motors to lay off 1,100 workers
    06 Mar 2017

    General Motors promised us other things but that’s how it all turned to be, even if it said it will invest $1 billion in U.S. factories now it announced to temporarily cut off 1,100 workers in May as its Lansing Delta Township assembly plant in Michigan shifts production to Tennessee. Last year it added 800 jobs at its spring hill, Tennessee plant to build the new version of GMC Acadia SUV.  The Lansing plant will continue building the Buick Enclave and Chevrolet Traverse after it retools for a month. GM also has announced other U.S. factory cuts. U.S. President Donald Trump ha...

    0 0
    16
    103940 views
  • Porsche's head of powertrain development gets arrested
    20 Apr 2018

    The German police have arrested the head of powertrain development at Volkswagen's Porsche business, Joerg Kerner. The arrest was related to ongoing inquiries into emissions manipulation, a person familiar with the matter said. Police are holding him on remand. The police are holding him on remand because he is considered a flight risk. The arrest of Joerg Kerner was related to ongoing inquiries into emissions manipulation at Volkswagen, more than two years after the German carmaker admitted cheating on U.S. exhaust tests. Kerner was one of three current or former emplo...

    0 0
  • Wells Fargo might pay $1 billion fine for loan abuses
    20 Apr 2018

    The company which is about to set a record fine of $1 billion imposed by two U.S. regulators for its risk management business is none other than Wells Fargo & Co. Lask week the company got a proposal from U.S. Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC), to resolve probes into auto insurance and mortgage lending abuses at the third-largest U.S. bank. Wells has acknowledged that it charged customers for excessive auto insurance, a burdensome expense that caused some to see their cars repossessed after defaulting on loans. Wells Fa...

    0 0
Search on the blog
Find us on

Last added auctions

2004 Audi TT (51k original miles)
388 views
8 photos
1,000.00
No bids
Lincoln Aviator
24 views
12 photos
4,500.00
No bids
MINI Cooper
21 views
10 photos
3,500.00
No bids
Audi S4
45 views
12 photos
3,000.00
No bids