CAZANA launches its Companion system today, which helps dealers price their vehicles in order to achieve a quick and profitable sale.
Companion allows dealers to base vehicle pricing on the current retail market instead of backwards-facing trade values.
Users are able to look up a vehicle’s real-time sales value on both desktop and mobile devices, while also offering an accurate days-to-sale measure that shows an estimate of how long a particular model will take to be snapped up off the forecourt.
Combining these factors means dealers can focus their efforts on fast-moving, high-margin cars, allowing them to sell their stock quicker and make more profit.
The system uses a combination of current retail and trade-selling data to give an estimate of what customers are typically paying for various models, adjusted for age, mileage, condition, specification and what dealers should pay, be it at trade or in the wholesale market.
Dealers simply have to enter a vehicle registration on Companion and that exact example is identified, allowing a precise value and trade price to be calculated.
Rupert Pontin, director of valuations at Cazana, commented: ‘The industry has been asking for an accurate, current view of retail and wholesale values for a long time.
‘Cazana Companion is a great asset to anyone who needs to value vehicles giving them an edge when pricing their vehicles for maximum profit, the best return on investment and the fastest sale.’
Steve Worrell, sales director at Cazana, added: ‘The profit corridor indicator on Cazana Companion allows dealers to make instant decisions, leading to improved margin and faster sales at the right price.
‘This data science led insight will give customers using Cazana tools and data an edge and certainly helps identification of significant profit opportunities.’
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