Auto Trader delivers deeper dealer insights
Auto Trader has introduced a new data solution for retailers, Trended Valuations, while also upgrading its Retail Check functionality.
The solutions are intended to help retailers make quicker and more profitable sourcing, advertising, and pricing decisions.
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.
It provides vital insight into potential profit opportunity, price sensitivity and margin risk.
Meanwhile, the enhanced Retail Check solution provides a broad suite of powerful data and metrics to offer a precise picture of the live retail market at both a national and local level, monitoring shifts in supply and demand and real-time market valuations.
Chief product officer Karolina Edwards-Smajda said: “We can already see just how powerful and integral our data has become in informing key retail decisions by the fact our valuations data was used over 240 million times last year, which is almost 100 million more than in 2022. Whilst there’s no question that the year ahead will have its challenges, access to this powerful combination of new intelligence will ensure all retailers, regardless of scale, have what they need to drive their success in 2024.”
