What is the auto remarketing industry?
Auto Remarketing is an industry concerned with the sales of used passenger vehicles. It, as such, encompasses the sales of passenger cars, SUVs, passenger vans, heavy-duty vehicles as well as power sports vehicles.
The auto remarketing or used motor vehicle industry is a fast-growing, diverse and complicated industry. It is a marketplace which comprises an array of different players. Behind every dealership, there are business and financial managers, salespeople, mechanics, engineers, insurers and most importantly consumers.
Whether you are an independent dealer or a franchise dealer, a car dealer or a truck only dealer, or a consumer, understanding the dynamics of an industry on the move is essential. More and more used cars are sold and bought with each passing year. This means that a vast number of job opportunities are increasingly available, as much as it means a variety of motor vehicles are increasingly available. Here is a look at the business categories in the used motor vehicle industry.
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Business Types
There is an increasing number of businesses being created in the Autoremarketing industry under the following categories: Wholesale, retail, Buy here pay here, leasing, body shop, service department, and parts department. All of these categories are essential to the growth of the marketplace. Let us consider their job descriptions.
Wholesalers
Wholesalers as the term imply is the section of the used motor vehicle industry concerned with large scale acquisition and sales of used passenger vehicles. There is an increasing number of both independent and franchise wholesalers in the industry in Cleveland, as well as, worldwide. These wholesalers typically acquire merchandise from wholesale auctions.
Retailers
Retailers are by definition involved in small-scale sales and acquisition of passenger vehicles. They typically get their merchandise from wholesalers or individual sellers and resellers.
Buy Here – Pay Here
Wholesale or retail automobile dealerships doing business in this category, extend credit to purchasers of automobiles, typically those with a poor credit history unable to meet credit standards elsewhere.
Body Shop
A body shop is also known as an automobile repair shop. These independent workshops are run by mechanics, engineers, and technicians who perform maintenance and service work.
Parts Department
These departments deal with making spare parts readily available. Transmission systems, suspension and steering systems, fuel supply systems, braking system, engine components, and parts, are provided by automobile parts departments.