INDICATA halves stocking days for one of the UK’s largest dealer groups
One the UK’s largest dealer groups has halved its used car stocking days within the first three months of adoption of INDICATA, Europe’s leading online used vehicle pricing platform.
Glyn Hopkin, which operates 35 dealers and 13 franchises will now use INDICATA across its group as an integral part of its pricing strategy to sell more used vehicles after it was successfully piloted within its Honda franchise and then across its Nissan dealer business.
Within just a few weeks of introducing INDICATA dealers experienced a rapid rise in used car enquiries and dramatically improved stock turn. Sales across its Nissan dealers ‘went through the roof’ according to Fraser Cohen, managing director of Glyn Hopkin.
Halving stocking days
He said, “INDICATA has driven massive improvements across all areas of our used business by focusing initially on ageing stock and then by introducing pricing parameters on models in group stock the team has halved stocking days in the first three months.
“We have become more strategic with our pricing as INDICATA gives us a live barometer of a used car’s value in the marketplace. We now change prices on some models two or three times a week to ensure we remain competitive within the fast-moving market.”
Group policy to use INDICATA
The group has embraced the platform from the top down with the board, brand directors, business managers and sales managers all attending a three-hour familiarisation session supported by the UK INDICATA team.
It is now group policy to use INDICATA when pricing part exchanges to provide a live insight into the current price of the used car as it sits at the dealership, which benefits the dealer and consumer. Typically group stock stands at an average 2,500 vehicles.
Glyn Hopkin also uses the platform when offered bulk purchase deals by the OEMs. Cars are run through the system first to determine a market price against sale prices and demand of nearly new stock. It ensures the group buys bulk stock at the right price.
Empowering sales managers to grow used cars
The announcement comes at a time when Glyn Hopkin has begun to sell used cars online.
“We are empowering sales managers to grow our used car business now they have INDICATA at their fingertips.
“Our group has already achieved some excellent results for our used car business as we look to build our annual sales beyond 14,000 used cars. INDICATA has helped the group build a new strategy and with the entire business using the platform daily we are well placed to grow volumes and profitability of our used car business,” he added.