Advertisement feature from Autofinity
Sourcing, stocking and selling used car vehicles for franchised retailers has grown in complexity with the process further complicated by the necessity to closely match cars to buyers, minimise days in stock and stay ahead of changing market conditions.
Having complete oversight of the vehicle from source to sale ensures a vehicle’s route to market is fast, efficient and any hinderances, such as hold-ups in prep or lack of imagery, are identified and dealt with immediately.
A single inventory management solution with rich vehicle data source to manage and feed online marketing channels with accurate and detailed content helps avoid pricing and specification inconsistencies and better enables vehicles to be matched to the right buyer at the right time.
Retailers are increasingly turning to Autofinity’s ViHUB which combines complete oversight of group stock including pipeline and demos whilst at the same time pooling all a vehicle’s data in one place to create ‘a single view of the truth’.
“ViHUB is a platform which integrates with DMS and vehicle data providers like Cap HPI and OEMs, to provide one ‘go to’ content pool which in turn feeds all online marketing channels,” Autofinity CEO Andy Whitehair explained. “Discrepancies and anything which falls foul of dealer criteria or ‘rules’ are flagged enabling fast rectification before a vehicle is put live for sale.
“Since ViHUB collates all data on a vehicle as soon as it is uploaded to the system, it also acts as powerful, accurate and reliable stock inventory. This then helps drive a group’s strategy from vehicle acquisition to its appearance on the physical and digital forecourt through to eventual sale.”
A vehicle can be uploaded onto ViHUB as soon as it has been purchased by the group whatever the source – part-exchange, auction and when utilising platforms such as carwow which enables car owners to sell vehicles to retailers.
Since ViHUB feeds all websites including the dealer’s own, the OEM website and the likes of Auto Trader, with its vast data pool collated from multiple sources, stock can be better matched when a potential buyer initiates an online search. In turn, the best suited vehicle and buyer find each other boosting conversion and reducing days in stock.
“If the vehicle data, including price, description and specification, isn’t rich, accurate, located in one place and assisted by automation, the entire process, from vehicle sourcing to sale, is hindered,” added Whitehair.
“A holistic overview and full control of used car inventory from sourcing through to PDI and onto the forecourt impacts speed to market, days in stock and effective online marketing. With the complexity of numerous dealership systems, multiple used car purchase sources, and several vehicle processes before a used car is even retail ready, a single vehicle data source is a must for oversight, efficiency and profitability.”
Autofinity is sponsoring the used car stocking panel discussion at this year’s AM Live on 9 November when Andy Whitehair will take part in the Q&A. Autofinity will be on stand C26 offering a 3 month free trial of ViHUB giving retailers insight in to advertising and stock performance.