Top BMW Stores Recognized for Superior New Car Inventory Performance
The top BMW stores turn new vehicle inventory 4.5 more times per year than average
March 2016’s top performing BMW dealerships in new car inventory management have been recognized by Automotive Ventures. The number one BMW store in the nation for the month of March was Paul Miller BMW, located in Wayne, NJ. This store dominated all other BMW stores last month by selling their new car inventory in an impressive average of 46.2 days, and managing to an impressive 31.4 days of supply in inventory.
The top performing BMW stores in each of the country’s four regions are as follows:
Northeast: Paul Miller BMW (Wayne, NJ)
South: Bert Ogden BMW (McAllen, TX)
West: Weatherford BMW (Berkeley, CA)
Midwest: Kelly BMW (Columbus, OH)
BMW national average days to sell in March across all dealerships was 78.2 days, which equates to average annual inventory turn of 4.7 times.
The top 10% of dealers are turning their inventory in 39.8 days (9.2 turns per year), while the bottom performing 10% of dealers are turning their inventory in 126.4 days (2.9 turns per year).
Nationally, BMW dealers manage their new car Days Supply to 67.9 days of inventory. The top 10% performing BMW dealers manage to an aggressive 33.9 Days Supply of new vehicles in inventory, while the bottom 10% stock an average of 213.0 Days Supply.
The worst performing BMW stores have 82% of their new car inventory aged over 90 days, while the best performers have only 31% of their new car inventory over 90 days. BMW’s national average is 54.5%.
“Congratulations goes out to the management team at Paul Miller BMW and to these regional winners for their outstanding performance and optimizing their new car inventory management practices,” said Steve Greenfield, founder and CEO of Automotive Ventures. “It’s an honor to be able to recognize such outstanding performance.”
“Dealers are facing increased margin compression in their new car operations due to price transparency, increased competition, and sales-based stair step incentives,” notes Greenfield. “Dealers that turn their inventory quicker understand that they can multiply the positive effect from moving cars quickly – the sale of a new car has a positive knock-on effect in every other department in a dealership. ”
“Stocking the optimal vehicles to meet local market demand creates a true win-win-win. The consumer wins by getting the exact car they want, the dealer wins by turning their inventory quicker and generating more revenue and profit across all other departments. And the OEM wins by selling more cars and increasing their market share.”
“The foundation for a healthy new car operation includes ordering the right cars, pricing competitively, preventing suboptimal trades, marketing effectively, and staying on top of the competitive environment. But it all starts with ensuring that a dealer is stocking the right new vehicles to begin with – those that best meet market demand and thus turn faster and deliver higher profits per unit.” says Greenfield.
Automotive Ventures provides BMW stores with local market intelligence to improve new car inventory management – to deliver quicker turns and greater profit. Dealers can quickly identify opportunities to improve vs. their targeted competitors.
Interested dealerships are encouraged to visit http://www.OrderAutomotive.com for their free Inventory Health Report.
About Automotive Ventures
Automotive Ventures provides competitive intelligence to dealerships with the goal of driving more profit. Founded in 2014, the company helps new car dealerships improve new vehicle inventory operations by delivering the best data driven tools available in the market. The company aims to significantly improve new car ordering and trade processes at dealerships across the country.
Dealers interested in receiving their free new car Inventory Health Report can visit http://www.OrderAutomotive.com.