3-Tips to Help Auto Dealers Minimize the Impact of the Current Chip Shortage

We hear you! Demand is high, inventories are low, chip shortages are impacting all of us, so what are dealers supposed to do?

Below are a few tactics and sources to help you:

  • Top vehicles to look for at auction and where:

    • Based on a study done by Copilot, the cars with the highest market days include smaller vehicles like sedans, hatchbacks, and minivans with trucks and SUVs being in short supply. So, where can you find inventory? Based on that same study, Northern states like Vermont and South Dakota have some of the highest market day supplies at 71 and 67 respectively. Some of the best metro cities to look for inventory include Rochester, NY with 63 market days supply, and Chicago at 54. 

  • Strategically advertise the inventory you do have

    • Pro tip: Focus on the Trim 

    • With inventory levels facing challenges due to COVID-19 shoppers are also adapting their preferences (Cox Automotive Senior Analyst Charlie Chesbrough) Try shifting your focus on highlighting the trim of your vehicles when you add descriptions to your listings on the app or in your DMS and showing it off with a clear photo. 

  • Source vehicles directly from consumers/private sellers:

    • Pro tip: Turn on notifications to get alerted when inventory is posted by private sellers on OfferUp with these quick steps:

    • Search for a specific year, make & model, or category of the vehicle on OfferUp

    • Add in filters (max price, mileage, etc.)

    • Toggle the bell icon to set up an alert and be notified when a new post is added Manage saved searches in your Account settings (Saves → Search alerts). Use the example below to verify your settings.

How to set an alert on OfferUp

OfferUp is here to help. With thousands of private seller listings posting every day, we can help you find more vehicles for your car lots by connecting directly with private sellers to source cars faster and cheaper compared to other sourcing methods. Contact us here and let us help you.