Is this Google Analytics for dealers?

Dealers can get a peek at a new AI-driven data platform designed and built in New Zealand for the local automotive industry with a special live presentation being held at 11am on Tuesday, May 2.

Apexdealerdata.com is showcasing its cloud-based system during a 45-minute online demonstration on YouTube, and the footage will also be available to view after the event. 

Matt Grant, chief executive officer, says the platform provides unseen market data to help automotive businesses make informed data-driven decisions, especially around the buying and selling of vehicles.

He adds the idea of creating such solutions for dealers came after talking to friends who work in the automotive industry about the struggles they experience with relying on staff to price cars and “buy the right cars at the right price”.

“They seemed to be relying on the experience and knowledge of maybe one or two people,” explains Grant.

“With 19 per cent of stock being underpriced by an average of $2,941, if you have hundreds of cars that’s a lot of margin you are missing out on simply because you haven’t priced your stock right.

“Our system takes the human element out of the process and allows dealers to remove the guesswork. It provides live data-driven information, including whether cars are over or underpriced or on-market. It also shows you what the market is doing at that moment, which I’m told is the holy grail of dealer data.”

Grant notes that some people think discounting cars will help them sell a vehicle faster, but that doesn’t often appear to be the case. “If you underprice a car, it is 80 per cent less likely to sell versus an on-market priced car or a higher priced car, so all you are doing is leaving margin on the table and it will take longer to sell and the data shows that.”

Apexdealerdata.com is aimed at dealers and dealerships, but Grant says the system is also likely to appeal to insurance and finance companies as it has a valuation API and digital audit feature for floor plans.

It offers a range of tools such as access to predictive analytics and detailed market insights to help “find the right stock at the right price”. 

The Apex dashboard also allows dealers to compare their business versus the market and there is a wholesale feature that can be used to search every car being sold privately across the market to find those with the most margin instantly.

“At the moment, most dealers have three or four systems they use to get relevant data, which is very basic data, but our platform provides everything on one screen,” says Grant. 

“If a dealer creates an account with us, they will have a free view for a day and can see very quickly how their business is performing but most importantly they can start taking advantage of that data straight away.”

To watch the presentation, which will be live at 11am on Tuesday, May 2, go to https://www.youtube.com/watch?v=a4RrR1zXLnI.

For more information, or to sign up to Apexdealerdata.com, click here.

Email: matt.grant@apexdealerdata.com