U.K.-based Auto Trader has announced that it will give all used car dealers access to its Trended Valuations product and Retail Check functionality in April to help them make faster and more profitable sourcing, advertising and pricing decisions.

In a statement, Auto Trader said that both of these products would be made available as part of all of its packages, accessible via Retailer Portal or Auto Trader Connect. Both of these offerings can be integrated into retailers’ external partner systems.

Trended Valuations shows the variation in pricing for a vehicle over the last six months and how its valuation is expected to fluctuate over the next six months. It is based on such factors as historic valuations, live market prices and seasonality.

Auto Trader said its pricing forecasts had a margin of error of 5% over six months, 3% over three months and just 1% over one month. It added that Trended Valuations was used more than 240 million times in 2023, up from around 144 million in the previous year.

According to the company, it also enables retailers to appraise a vehicle before buying and estimate its valuation after preparation, the speed in which it will sell and the point it becomes overage, in addition to helping them to identify potential loss-making vehicles sooner.

The company also unveiled Auto Trader Insight Academy, an e-learning hub offering short classes in such areas as sourcing, pricing and understanding metrics to help retailers use Trended Valuations effectively.

Meanwhile, Retail Check offers retailers a wider selection of data and metrics, including Retail Rating, which gives a precise view of both the local and national live retail market to help retailers source stock and price vehicles to maximise their profits.

It monitors shifts in supply and demand, offers real-time market valuations, a competitive analysis of price positions against similar stock and estimates how quickly a vehicle will sell when priced at its market value.

Auto Trader said the introduction of these solutions would help retailers deal with a range of changes impacting the market, including shifting supply dynamics, EV demand and wholesale trends that are creating uncertainty for retailers and making pricing strategies harder to manage. The products are designed to help them spot margin opportunities and improve performance, Auto Trader said.

“Given the complexity in the market, we’ve worked hard and invested to create the solutions and the insights that we believe will best serve our partners and give them the confidence they need to act in these changing times,” said Auto Trader CPO Karolina Edwards-Smajda.

 

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