7:28 am, January 14, 2023
Auto Trader has launched a new product to help dealers access crucial market data.
Called Vehicle Insight, the new product brings together key performance indicators giving insights into any vehicle.
The insights include key data points such as market health, pricing, and performance rating.
This is then packaged up in a single dashboard and is available for all Auto Trader customers.
Dealers will be able to quickly determine price against the live retail market, and compare stock with competing vehicles based on price and value.
They can also easily check their performance rating to see how consumers are responding to individual adverts.
The tool will help dealers ‘respond quickly to the fast-moving market and improve performance across their digital forecourt’, said the company.
Commenting on the benefits of Vehicle Insight, John Tustin, director at Mike Brewers Motors, said: ‘Getting all the information on one screen is excellent, not only from a time saving point but also from that ability to manage and act on the data that little bit quicker.
‘The amount of time that I can save and the speed of decisions I can make on the pricing strategy for each car gives me the potential to retain more profit from every sale.’
Auto Trader’s chief operating officer, Catherine Faiers, added: ‘We know retailers are facing an increasingly complex and competitive market, and enabling them to respond quickly and strategically to fast-changing dynamics is a priority for us.
‘We believe that data will be critical to success this year, and so we are committed to empowering all of our retailer partners, regardless of size, with the scale and depth of our data to maximise their performance.
‘Vehicle Insight is an incredibly powerful intelligence layer for our Portal customers, that as well driving efficiencies, is designed to help unlock the full profit potential of every vehicle.
‘We’re committed to continuing to invest in our products and services on behalf of our customers.
‘Along with our wider suite of data and insight-based tools, such as Auto Trader Connect, Vehicle Insight is a prime example of how we’re supporting our retailer partners to achieve their goals.’
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