Auto Trader is giving dealers early access to its data tool Trended Valuations, as well as to newly enhanced Retail Check functionality.
Both will be incorporated into advertising packages in April. Auto Trader said they will help retailers to make quicker and more profitable sourcing, advertising, and pricing decisions.
Trended Valuations and enhanced Retail Check functionality is accessible through the Auto Trader Portal or Auto Trader Connect.
Trended Valuations show what a vehicle has been worth over the last six months, and how its value is forecasted to change up to six months into the future.
It’s based on a combination of historic valuations, live market prices, seasonality, and the age of the derivative within the lifecycle of its generation.
Auto Trader claims the forecasts have been proven to be on average within 5% of achieved values up to six months in the future, with this improving to 3% up to three months, and 1% up to a month forward.
Trended Valuations provides insight into potential profit opportunity, price sensitivity and margin risk.
It can help dealers to appraise a vehicle prior to purchase (estimating its valuation after preparation, the speed in which it will sell, and the point it becomes overage) as well as managing risk more effectively by identifying potential loss-making vehicles sooner.