Data mining turns profit

A large dealer group recently rolled out Apexdealerdata.com and in a matter of minutes had bought a number of cars with good margins, says Apexdealerdata.com’s chief executive Matt Grant.

He says that one of the vehicles the dealership found using Apexdealerdata resulted in a $12,000 to $14,000 margin.

“And no, it wasn't a $100,000-plus car. It was worth $75,000 and they paid $60,000 for the car.” 

This car was one of a number of vehicles the dealership bought during one day, Grant says.

“All before they even paid $1 to use the system.”  

As for last week's statistics from Apexdealerdata, the average days to sell a car dropped down to 56, while the average sales for the week per dealer was 22 vehicles – up from the previous week’s sales of 18 cars.

The number of dealers who sold cars last week was 867 - up from 845 dealers during the previous week.

In the past week, 83 per cent of all stock was sold in less than 90 days, and of those sales only 24 per cent of that stock was under-priced. 

These results show that dealers have a 76 per cent less chance of selling stock if they price it wrong and give away margins, says Grant. 

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.

Grant says the system, designed for the local automotive industry, aims to help dealers “turn over stock at maximum profit in the fastest time possible”.