Reduced Days-on-Hand by 57% Reduction of 40 days versus 15 days
An Automotive OEM had excess dealer inventory of vehicles equipped with a specific option. This option was going to be replaced with a superior product resulting in the requirement to sell off inventory prior to the new product launch.
To highlight the sale of these vehicles and the need for inventory reduction, a gamified incentive program was administered across the entire product line. Higher priced models with the same equipment were incentivised with premium level points. Corporate sales as well as all dealer sales consultants and sales managers were targeted and engaged in a program that ran for 120 days.
98% of all dealers enrolled in the program, with a 70% participation level by all sales consultants. Inventory turnover on these vehicles was reduced from 70 days on hand to 30 days by the end of the program.