Data at spec level
Data analyst Apexdealerdata.com has a new feature called the “market predictor”.
It compares the vehicles sold monthly down to specification level and by region versus the stock currently for sale.
Apexdealerdata.com’s chief executive Matt Grant says the pricing of vehicles is important but if dealers stock models that are in oversupply, it doesn't matter how they price them the chances of selling that stock will drop dramatically.
As for Apexdealerdata.com’s latest market report:
The average number of days to sell a car has fallen to 63 days, while the average number of sales per week per trader was 18 – up from 17. And 845 dealers secured sales, up from 830 during the previous week.
A South Island dealership had the highest sales with 68 units. It had 10 per cent of its stock priced above the market range and 90 per cent of its stock priced “on market”.
In contrast, a North Island business had 95 per cent of its vehicles priced above the on-market range and five per cent priced “on market” and sold one car.
Apexdealerdata.com’s AI-driven decision engine rates the pricing of vehicles as higher, on market or lower based on what it works out as the best price for the quickest return and most value for a car.
