At a time when data is more critical to success than ever before, Auto Trader has launched an intuitive new product, making it easier and more efficient than ever for its retailer partners to access its market leading insights through their Portal accounts. Vehicle Insight brings together key performance indicators in one single tool, providing easy-to-read insights into any vehicle, helping retailers to respond quickly to the fast-moving market and improve performance across their digital forecourt.
Now available to all customers as standard, Vehicle Insight marks another important step in Auto Trader’s commitment to empowering all of its circa 13,500 retailer partners with the full scale of its data. The solution collates key data points such as market health, pricing, and performance rating, and for the first time, presents them in one single dashboard. By embedding this data centrally in the stock management process, retailers can save time, make faster and more informed choices, and ultimately improve sales performance, maximising their margin and profit potential in the process.
The dashboard has been designed to provide retailers with a real-time view of how an individual vehicle is performing based against key market metrics. This powerful aggregation of data will allow retailers to easily identify any relevant changes in market conditions that may affect the vehicles’ performance and determine what they can adjust to improve it.
Vehicle Insight gives Auto Trader’s retailer partners more insights and market intelligence than ever before via their Portal account; available at their fingertips, to make a wide range of strategic decisions at a very granular level. This includes determining price against the live retail market, comparing 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. And by receiving estimated speed of sale and breakeven calculations, retailers can track profits and develop a strategy based on these unique insights.
Importantly, retailers can also keep an eye on market health, supply, demand, and pricing trends for individual vehicles to assist decision making and help them to easily react to today’s exceptionally fast-changing market.
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.”
*Article Source https://plc.autotrader.co.uk/who-we-are/about-us/