Used car managers hold an important role in the automotive sales industry. Whether they work in the used car division of a new car dealer or for an independent used car lot, they are crucial to ensuring the success of their businesses, as a great manager can make an unprofitable situation reverse course while a poor manager can be a car lot’s downfall.
Used cars make money for dealerships, and with downturns in the economy and money tighter for many customers, as well as changes in credit markets, it is vital for these managers to understand the market, their customers, and the sales potential of the vehicles they encounter, whether they are trade-ins on new cars or cars available via other means, including from wholesalers.
Used car managers must become experts in acquiring used cars at reasonable prices to be resold for the most profit and, ideally, resold quickly to keep inventory moving. They must be able to see the potential in affordably reconditioning cars for profitable sales, as well as train salesmen underneath them to make quick sales of used cars at profitable price points. They must also be fully aware of financing options for a variety of customers, as well as changes in those options and changes in the used car market overall.
Many used car managers begin as salesmen in independent used car lots and/or used lots of distributors for major car manufacturers. After proving their potential and ability, some advance into leadership roles based on knowledge, leadership ability, sales, and communication skills. Educational requirements may vary for this position, though many used car managers have college degrees in business, marketing, and sales fields.
Used Car Manager Tasks
Manage, train, and direct used car sales team, developing sales goals and marketing objectives.
Assist sales representatives with closing deals.
Compile and report performance and sales metrics.
Manage inventory and trade-ins, conducting appraisals.