Dealerships, News, Technology

AUTOMOTIVE auto intelligence platform AutoGrab has launched a new service that will make the pricing of cars for dealers more accurate and transparent.

The service now means that rather than listing just the core price of a car, dealers will now see, based on the vehicle identification number (VIN), what factory options were fitted to that specific car.

The feature will be added to the AutoGrab real-time pricing service for an additional fee. The service is expected to be available to the industry within a few weeks as a standalone service and will be integrated with AutoGrab’s CarAnalysis report.

AutoGrab said that by using a vehicle’s identification number to unveil specific factory-fitted options, dealer staff can “elevate their understanding of a car’s true value and get an in-depth look into its unique specifications and potential”.“Fitted options allows you to maximise your buying opportunities and communicate your final price effectively by understanding what exactly was fitted to the vehicle when it left the factory,” the company said. 

Saxon Odgers, chief commercial officer of AutoGrab told GoAutoNews Premium: “This has been a massive challenge for the industry for many many years where a Mercedes C-Class for example, can be worth between $70,000 and $110,000, depending on what’s fitted on the car. 

“This is something the industry has been screaming out for over many years,” he said.

“So we will describe and provide a deep analysis of what that vehicle has been fitted with from the factory. For example, if it has a moonroof, if it has heated seats, if it has electric seats, if it has front-up display, if it has the AMG or M Sport, package or sports package. 

Saxon Odgers

“So with this enhanced transparency, it will enable the dealer to have a better understanding of what the car’s worth and better understanding of the desirability from a consumer perspective when looking to retail it through their used car department.”

Mr Odgers said the service would take retailers less time to review the car once it comes into stock. 

“This enables them to have a higher level of information at a point of appraisal and help manage trade-in value and, at the same time, manage customers’ expectations as well.”

He said that dealer staff were often “working in the dark” when it came to assessing the value of factory options fitted to an individual car.

“So if the car was heavily optioned we provide a level of context. We know what the car is built with all the way down to what colour the brake callipers have in some instances. It is very comprehensive and it’s been something the industry has been screaming out for over many years.

“It supports the dealer’s ability to have full transparency, manage costs, manage gross profit opportunity and manage the market dynamics of that particular vehicle, ensuring that they’re able to price it accordingly. We see this as in addition to enhancing their vehicle strategy and as well being able to price cars more effectively. 

“It is also important to note that this will be a part of our CarAnalysis reports in the not too distant future and this is something that the dealers can provide to customers at the point of the sale in the dealership as well across dealer websites if it’s enabled,” he said.

By John Mellor

AdTorque Edge