AMERICA’S most trusted automotive valuation tool, the Kelley Blue Book, will this month be launched in Australia to give car buyers an accurate and comparative pricing guide for their purchases.
Kelley Blue Book, an industry byword for 90 years in the US, enters Australia to give unprecedented accuracy and a comprehensive comparative pricing guide for car buyers.
The launch will will be a key feature on the new Autotrader website that is being unfurled around Australia.
The combination of Autotrader and the Kelley Blue Book, which fall under the Cox Automotive Australia umbrella, will allow Australian car buyers and dealers direct access to a massive vehicle listing inventory with the bonus of accurate price estimates.
Autotrader and Kelley Blue Book jointly attract about 30 million unique visitors a month in North America.
Cox Automotive Australia CEO of the media solutions group Dan Ingle told GoAutoNews Premium the launching of Kelley Blue Book (KBB) in Australia “drives at the heart of our desire to help dealers as well as consumers make well informed decisions”.
“We are leveraging decades of industry knowledge and deep technical expertise gained from our work in the US and abroad to bring a new level of pricing transparency to Australia,” he said.
“KBB also completes our Cox Automotive ‘power of 3’ approach that is designed to address the critical needs of consumers when they go online during the vehicle research and shopping process.
“First, Carsguide will continue to provide excellent editorial content to help consumers understand their choices and get advice from the experts.
“Second, Autotrader will be the trading platform that transparently helps consumers find the car they are looking for and a seller that they want to do business with.
“Finally, Kelley Blue Book will help users quickly make sense of vehicle pricing information that many find complex and difficult to understand. Bringing these three assets together will provide Australians with rich information and insights to support the car buying and selling journey.”
The head of Autotrader in Australia, Thomas Jung, said the first product in the Kelley Blue Book offering will be the Price Advisor that instantly shows customers of how a vehicle price compares in the marketplace.
“It means we have transparency in the market by showing vehicle buyers how the price of each vehicle compares with similar cars,” he said.
“The Price Advisor tells the consumer that the price of the car is lower, higher or an average to similar cars in the marketplace.
“That helps the consumer by giving an accurate price and allows them to make a better decision before buying the car. It also means they will have all the necessary information and ensure they ask the right questions before the purchase.
“For the dealer, it means they have a customer who is more qualified and informed and that reduces the time spent on discussing the price.”
Mr Jung said more than 2500 dealers in Australia were with Autotrader, part of Cox Automotive, and more are expected as Autotrader and Kelley Blue Book become established throughout Australia.
“As our coverage of Australia increases, so does the accuracy of the vehicle prices we will list through the Price Advisor,” he said.
“Kelley Blue Book has been in the US for a long time and has built up the reputation for accuracy that places it on a similar footing to a government agency.
“In Australia we are building our pricing valuations with a view for full market coverage within a short period.”
Data for the Price Advisor is being supplied by sources including Carsguide and Autotrader, and is taken from market estimates that include the vehicle make and model, the age, odometer reading,engine size and transmission type.
Kelley Blue Book started in the US about 90 years ago as a result of the valuations conducted by US car dealer Les Kelley who opened his car lot in 1918.
KBB was launched in Brazil and Portugal in 2017 and this year it opens in Canada and Australia.
By Neil Dowling