Vehicle Insight launches

Cox Automotive launches vehicle valuation, pricing and retail market insight product

Vehicle Insight

Cox Automotive has announced the launch of a new product that uses wholesale and retail data to help dealers buy, price and sell vehicles with even greater confidence.

Vehicle Insight is the only product on the market using Manheim, and cap hpi data to provide in-depth price and market information, and allows dealers to assess vehicles individually and in bulk across a forecourt, a dealer group, or an auction catalogue.

Vehicle Insight shows dealers a wide range of information at both local and national level, including live retail market price range, sales performance (including supply levels and average days in stock of comparable vehicles), competitor stock and price, availability and demand for the individual vehicle, including most popular colours and sales locations.

Neil Smith, Operations Director at Imperial Cars, which is using Vehicle Insight, said: "We have worked with Cox Automotive Data Solutions to integrate Vehicle Insight into our DMS platform. The data enables us to understand in detail the supply and demand levels for any particular vehicle in the market. We have been able to improve our pricing policy as we have accurate data regarding the retail price for a vehicle and a better understanding of depreciation in the market. The transparency around how this data is calculated enables us to have integrity in the data, and to use this as part of our decision making processes."

Allison Nau, MD of Cox Automotive Data Solutions, comments: "Manheim receives data on over 500,000 vehicles every year and represents more than 70% of retail stock, as well as having up to 10% more three years or younger vehicles than Autotrader. When combined with cap hpi data, this product offers clients the most up to date, accurate insights available on the market, easily accessed all in one place."

"The product is already helping dealers decide what to buy, for how much, and where best to sell it before they make a purchase or take a part-exchange. Plus, by being able to review an entire forecourt or their Group stock in one go, dealers are able to efficiently manage their performance and stock mix across multiple locations."

Allison continues: "Our aim is to help our customers make smarter and more efficient buying, selling and pricing decisions to maximise profit, improve speed of sale and stay one step ahead of their competitors, whether they are in the auction, on their forecourt or analysing their portfolio. We are delighted to launch such an exciting product to the market."

Latest from Cox Automotive

21st January, 2019

Sytner car supermarket division extends its remarketing partnership with Manheim

The Sytner Car Supermarket Division has extended its long-standing remarketing partnership with Manheim for a further two years.

Read more
16th January, 2019

Wholesale demand outstripped supply in December as dealers prepared to hit ground running in q1

Cox Automotive reported high levels of competition for wholesale vehicles in December, driven by dealers’ optimism about consumer demand in the first quarter of 2019.

Read more
10th January, 2019

Dealers report VED changes catching customers unawares

The Vehicle Excise Duty (VED) supplement introduced on vehicles costing over £40,000 when new is catching some consumers unawares and impacting their attractiveness in the used market

Read more
9th January, 2019

Dealers taking stock of 2019 point to positive year ahead

Dealers are looking ahead to a positive 2019 with around two thirds of those surveyed for the latest sentiment survey by NextGear Capital saying they plan to invest in their business.

Read more
More articles