Lincoln Adventurer opened for a year, sold back to the 4S shop at the original price and replaced a new Navigator;
Used cars can be sold in an average of half a month, and even "the car has been booked by customers before it has been received";
Officially certified used cars can see every maintenance and repair record in history, and enjoy the same delivery ceremony and original factory financial policies as new cars;
"Memory sealing" freeze-frame car story, authorized by the owner can also be shared to the next buyer, so that the transmission of used cars is more warm...
What exactly makes these stories that break the norms of the industry? The Lincoln brand has only been officially certified used car business for 9 months, and it has begun to show results, in addition to Lincoln's consistent luxury quality, it is inseparable from the extension and expansion of the "Lincoln Way" in the field of used cars. The driver sent a field visit to Lincoln's official certified used car dealership and personally experienced Lincoln's unique "secret weapon".
Taking advantage of the situation Lincoln's official certified used car is just beginning to emerge
In March 2021, Lincoln launched a pilot project of used car business in Beijing, Shanghai, Hangzhou, Shenzhen and Chengdu, and there are currently 11 authorized dealers of Lincoln's officially certified used cars; within two years, this business will expand to most authorized dealers in Lincoln China.
After 3 quarters of trial operation, the driver sent to Two Lincoln Authorized Dealers in Chengdu, Rising Lincoln Center and Chuanwumei Lincoln Center, to understand the operation, and interviewed Pu Bingzhong, general manager of Chengdu Rising Lincoln, to understand the strength and progress of Lincoln's construction of the used car sector, and restore the breakthrough of the single store with the highest new car sales in Lincoln in 2020 in the second-hand car business.
Although the official certified used car business is not a new thing in the luxury car market, and the BBA has been running for many years, the survey found that Lincoln's official certified used cars have many differences, and even can be called full of "surprises".
How well Lincoln's official used cars sold, the numbers are the best answer. After half a year of piloting, the "official certification" has subverted the pattern of the used car market in Lincoln, the city. According to Lincoln's national market survey, Lincoln's used car trading volume grew rapidly in 2021, maintaining month-on-quarter growth in the first three quarters, and an increase of more than 17% in the third quarter. Among them, Lincoln's official certified used car share has also continued to increase, with a share of more than 40% in the pilot cities in the third quarter, which is very impressive for the fledgling Lincoln certified used car business.
Such data was confirmed in the interview, implemented in a single store, Rising Lincoln Center as the pilot store as the earliest distribution point of the whole network, the actual sales probably began in April, three consecutive quarters of trading volume is rising.
After the Lincoln brand runs the used car business, the biggest change is the reshaping of the lincoln used car pattern in the city - before the operation, it is all third-party trading, the market is unstable and opaque, and now all third parties have to anchor the official certified second-hand car system of lincoln 4S stores in the car collection and car sales links, which greatly stabilizes and improves the retention rate of Lincoln used cars, which incidentally makes consumers' confidence in new car purchases also enhanced.
The "Lincoln Way" has been extended again
Why do Lincoln customers proactively sell their cars back to the Lincoln 4S store instead of selling them to a third party? Why did Lincoln's official used car sell better after the acquisition?
For the problem of "better car collection", the primary factor is the advantage of the acquisition price, but this advantage is actually due to the strict quality requirements of Lincoln's officially certified used cars - that is, 200 standard tests.
Lincoln officially certified used cars are required to have a purchase period of 6 years, no more than 120,000 kilometers, and the car is in good condition. In addition, because it is a 4S shop that does the used car business, the maintenance and repair data of each car are also recorded in detail.
In particular, the "200 tests", which are tests with specific standards, are more comprehensive, more stable and more quantitative than third-party tests. Therefore, Lincoln's official certified used car authorized dealers have enough confidence in each car they receive, it must be a high-quality car, and compared to the third-party market, it can give a better car price.
In addition, after visiting, it was found that the transaction environment and services of Lincoln Center are far superior to those of third-party markets, and luxury car consumers like Lincoln customers often care about this experience in trading, even if the price is the same, they are more willing to sell back to Lincoln 4S stores.
Another interesting episode is that Lincoln will have a "memory sealing" service when he collects the car, making commemorative videos or pictures for the owner and the car, and this sense of ceremony with temperature is also Lincoln's unique advantage, which also stems from the well-known "Lincoln Way" in the Lincoln system.
The strictness of car collection actually means that the attractiveness of buyers, quality + service, has built a comprehensive guarantee system.
For example, the official exclusive luxury renewal - every Lincoln official certified used car has undergone careful care of the brand, such as the repair of the paint is the original factory level, and the original materials that can be provided for the interior repair are not easy to achieve by the outside third party.
Worry-free after-sales service – not only ensures that each vehicle is no less than 5,000 kilometers away from the next maintenance, but also provides a two-year Lincoln official after-sales service program.
Quality Guarantee - Provide 1 year 20,000 kilometers of original selected care quality guarantee for each officially certified used car, and there is a 7-day no-reason return service for the purchase of the car, so that customers can eliminate possible concerns while driving. For the warranty, Pu Bingzhong introduced that Lincoln will provide a 1-year warranty for certified used cars, such as the Aviator itself is already a 5-year warranty, which is already in a leading position in the industry. If the aviator recycles the certified used car in the 4th and 5th years, he can also enjoy another 1-year extended warranty, which greatly enhances the buyer's confidence.
Finance – Officially certified used car exclusive financial products with 1 year 0 interest rate, 2 or 3 year low interest rate. In fact, Lincoln Financial's services extend to the field of used cars, allowing customers to reasonably control cash flow and solve their worries, which is also an advantage that third-party institutions cannot match.
So, what cars are hotter?
On the day I entered the store, I just sold a pilot and a pilot in the used car showroom of Rising Lincoln, and interestingly, the buyer of the flagship model pilot was also the seller of this pilot.
Such a coincidence, not a case in the store, bought a Lincoln open for a few months to change Lincoln's more high-end model has happened several times in this store, and some are old for new, some are old for old, some are old for old, some are into the store to maintain the car when they see the right used car source on the heart, go home a few days later to drive back to talk about "replacement".
In fact, this situation is actually not common in the official second-hand car market of Chengdu luxury brands. I think there are two reasons for lincoln's situation: one is the retention rate, Lincoln used cars are currently in the market retention rate is high, especially in the past two years have been listed domestic SUV three musketeers, adventurers, navigators and aviators, because china's "smart" excellent quality has shaped an excellent reputation, the retention rate has an advantageous position in the same level of models.
In addition, other irregular activities also have a promoting effect, such as the recent store held a "Lincoln Adventurer Replacement Original Price Repurchase" activity, attracting a lot of customers favored, basically equivalent to opening an adventurer for almost a year, the highest can still be sold at the original invoice price, replacement plus tens of thousands of yuan can drive the Navigator home.
The retention rate of the aviator is also considerable, the author saw that the domestic aviator administrative version of the transaction was launched in January this year, with a mileage of 17,900 kilometers and a price of up to 645,800 yuan, while the guidance price of the new car in this configuration was 689,800 yuan. According to the used car manager, the source sold in the afternoon of the day of collection.
A forward-looking vision drives strategic development
At the end of the interview, we learned why Lincoln brands and authorized dealers attach so much importance to the used car sector. In their view, combined with the development curve of luxury brands and the prospects of the used car market, Lincoln China's vigorous promotion of the officially certified used car business is timely and far-reaching, so the first batch of dealers to carry out pilots vigorously supported and implemented at the first time.
Nowadays, the scale of second-hand car sales in the store has risen, which can form a benign interaction with new car sales, and can try its best to let every customer who enters the store choose products suitable for themselves; even if new car users see that the price of second-hand cars is so "value-preserving", it will also promote the orders of new car consumers and form a virtuous circle.
Regarding the significance of Lincoln's launch of officially certified used cars, there are more important strategic considerations at the Lincoln brand level:
The first is to actively set value, aiming to become the value definer of Lincoln used cars; second, to control the value and dominate the high-quality Lincoln used car trading channels; then to continuously enhance the value and add value to Lincoln used car products; and finally to strengthen the value, Lincoln insists on always implementing the "Lincoln Way" experience in this process, bringing customers the same respected service experience as new car customers.
Driver's Summary:
In the view of the driver's school, although Lincoln's official certified second-hand car is not the first launch of the luxury brand, it has grasped the excellent opportunity, and has played a differentiated advantage with the distinctive characteristics of the Lincoln brand, which has become a role that cannot be ignored in the second-hand car market.
In recent years, the localization strategy of the Lincoln brand has been deepening, and the luxury car that combines American luxury and Chinese "smart" manufacturing has received a large number of praise from consumers, achieving continuous rapid sales growth while maintaining a rapid increase in the scale of users. The trading policy of the domestic second-hand car market also continued to be favorable. Lincoln seized the opportunity to launch the official certified used car business in a timely manner, further improving the full-use car cycle experience provided by the Lincoln brand, ensuring the stability of the value of the Lincoln brand and products, and expanding a new business growth point for Lincoln.
Looking at the entire domestic luxury brand used car market environment, in fact, it is still in a less mature stage, there are "transaction dispersion, the level of hardware and software of the transaction subject is average, the quality of the car source is uneven" and other unfavorable factors affecting the development, especially the quality of the car source generally lacks such a transparent and authoritative evaluation system as the official second-hand car, which cannot win consumer confidence and limits the further improvement of the second-hand car transaction.
In addition, we can see that high-end car consumers, whether they choose new cars or used cars, are often willing to pay for better service. Lincoln takes the brand as the main body to reconstruct this market, and the officially certified used car business as an extension of the "Lincoln Way" customer experience, while shaping its own advantages, is undoubtedly conducive to improving the health of the entire market, and ultimately benefits the Lincoln brand, omni-channel and customers, to achieve a win-win situation for all three parties.
From this point of view, Lincoln's pioneering and innovation is very worthy of industry consideration.
Wen | Zhang Wo
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