INDICATA’s new functionality helps dealers’ price up used car options and pre-reg cars more effectively
Written by Autorola in category Autorola Group News
August 24, 2021
As OEMs constantly look to bolster market shares with tactical dealer registrations, it is vital dealers can price 0Km/pre-registrations correctly but continue to monitor the market to ensure remains competitive against rival dealer pricing.
Three types of used car category
The INDICATA dashboard now identifies three types of used car category, they are:
• 0km/pre-registered vehicles that sit on a dealer forecourt but have never been driven
• Demonstrator stock with a few hundred kilometers on the clock that are a few months old
• General dealer used car stock
Meanwhile, INDICATA’s new equipment and options functionality help dealers improve the accuracy of their part exchange valuations and appropriately price their stock to be competitive.
True worth of an option on a used car
Different equipment options impact used values by different levels depending on the segment of car and need to be priced accordingly. INDICATA gives dealers the true worth of an option based on the millions of vehicles Indicata assesses every day and compare stock in their local area to ensure their part exchange valuations and retail pricing is competitive.
Each dealer’s used car inventory is automatically recorded inclusive of equipment levels and options which ensures values are always based on the latest market price movement. That way dealers have a real time value of used cars in stock, a major benefit for multi-franchise dealer groups and for car supermarkets where pricing is competitive and profit margins are slim.
Don’t risk compromising or losing money on a sale
Generally, the higher value the car, the more optional equipment it has fitted which means a dealer appraisal could be inaccurate and risk under valuing the part exchange and compromising a sale. Alternatively, if the dealer under values the retail car market it risks potentially losing money.
“We are pleased to add this increased functionality to our INDICATA used car insights portal as it offers dealers the power to value part exchange and retail stock more accurately against the local competition,” said Andy Shields, INDICATA’s global business unit director.
“We have had some fantastic feedback from dealers prior to launch and ultimately it will help dealers sell more used cars more profitably.”
For further information go to www.indicata.com or contact your local INDICATA country manager.
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