Provisioning Tool Identifies and Finds The “Right” Used Vehicles For Dealer Inventories
Toronto, ON – February 21, 2013 – TRADER, Canada’s trusted automotive leader dedicated to helping dealers with online marketing and used car inventory management, and vAuto, the U.S. industry leader in used vehicle inventory management tools, announce the availability of the Provisioning tool to help Canadian dealers more efficiently find the “right” used vehicles to increase their sales volumes and profitability.
“The addition of the Provisioning tool to the velociT Toptimizer suite of products is a game-changer for Canadian dealers,” says Normand Théberge, Vice-President, Strategy and Dealer Solutions at TRADER. “The Provisioning tool identifies and grades the most in-demand vehicles, based on real-time, online shopping data from AutoTrader.ca, and locates these vehicles at leading auctions to make sourcing the ‘right’ cars more easy and efficient for dealers.”
“The Provisioning tool addresses the three most-critical questions every dealer confronts in used vehicles—What are the best cars to retail? What should I pay to acquire them? and Where can I find them at auctions?” says Dale Pollak, vAuto founder. “The Provisioning tool provides these insights based on real-time market data and intelligence that has previously been unavailable to guide dealer decision-making.”
Here is how the Provisioning tool answers each of these three questions:
What are the best cars to retail? The Provisioning tool combines a dealers own retailing strategy and targets for inventory value, age, turn rates and gross profits as its foundation. The tool uses these parameters to assign an A-F letter grade to every used vehicle available in the market, through a seven-point diagnostic Report Card. Using real-time market data, the Report Card measures each vehicle’s “Demand,” “Interest,” “Profitability” potential and other characteristics to help dealers identify the opportunities and risks inherent in every car and equipment/trim configuration. “The Provisioning tool gives dealers greater clarity and confidence in their decisions to purchase or pass on specific vehicles,” Pollak says.
What should I pay to acquire the best cars? The Provisioning tool uses a dealer’s own gross profit goals and expected acquisition/transportation/reconditioning costs to recommend an acquisition price on every car. The recommendation also accounts for the retail asking price that will generate the most online buyer response, based on real-time data from AutoTrader.ca. “The Provisioning tool’s acquisition price recommendations help dealers pinpoint and protect their profit margins from the get-go on every car,” Pollak says.
Where can I find the vehicles? The Provisioning tool integrates with leading wholesale auctions in Canada, including ADESA, Manheim, OVE and OpenLane. The integration allows dealers to quickly identify where to acquire the cars that meet their purchase parameters. The Provisioning tool also allows dealers to place bids directly with online auctions for more efficient vehicle sourcing. “The Provisioning tool creates a time- and effort-saving bridge between retailers and the wholesale marketplace,” Pollak says.