How often do you guys increase stock pricing?
I regularly read about reducing the price of sticky stock to somewhere close to cost in the hope of a quick exit but I think there may be an alternative.....
I have tried it before and it worked or was I just lucky?
Thinking about it logically, every day fresh lookers view our stock and some don't want the cheapest, some aren't prepared to travel very far and some just want a set of wheels quickly and whether it is £200 more is irrelevant?
For example, I have a BMW 118I Sport Cab on a 10 plate 61k with 1 former and FSH, advisory free MOT and 3 Months top warranty included, trouble is that it is in a particularly subjective colour (Cashmere Silver). I had more shouts on it at £7,295 than I did at £6,795 - so clearly the price is not the issue (within reason). I can't change the colour and the car drives flawlessly (you know when a car is right); So today, I have increased the price to £6,995 and I will sit and wait for that one person. I have reviewed all my stock and increased the pricing, except on two PX's which are price driven (under £1k).
I am just waiting for someone to say, "oy m8, I woz watchin that car at £x and the price az gun up." Can't wait to say, "why didn't you buy it then."
Thoughts?