Part 4/10:
Predicting consumer demand is one of the largest hurdles for car manufacturers and dealerships alike. Car manufacturers operate on forecasts and trends; however, the reality can often deviate significantly from predictions. New models can turn out to be flops, leading to an oversupply situation. The industry standard suggests that cars ideally should sell within 60 to 90 days. Yet, when they overstayed their welcome on the lot, a dealership must employ strategies to sell unsold inventory.