‘Pricing following market counts’

It is currently taking an average of 66 days for dealerships to sell a car, according to the latest figures from Apexdealerdata.com.

Data from the platform also reveals 802 dealers managed to sell vehicles last week, with the average number of weekly sales per dealer standing at 13.

The best-performing dealer was based in the lower North Island after they recorded 57 sales and had 86 per cent of its stock priced “on market”. 

Apexdealerdata.com categorises the pricing of vehicles as higher, on market or lower based on what the platform’s AI-driven decision engine calculates as the best price to get the fastest return and most value for a car.

It notes a dealer who only recorded one sale last week had 82 per cent of its stock in the higher band and just 18 per cent on market.

The figures are part of the weekly Apexdealerdata.com market report, which appears on Autofile Online.

Matt Grant, chief executive of Apexdealerdata.com, says last week’s extremes show pricing following the market counts.

He explains a BMW X5 30D, pictured, that was originally priced by a dealer “way lower than the market” took close to 200 days to sell. It was finally sold when the market met the price.

“Had this car been priced right when it was originally listed, it would have sold in under 70 days as three other examples of the same model with the same kilometres and colour did,” adds Grant.