Auto Trader is preparing to roll-out its used car valuations data to all its car retail customers as part of efforts to help them adapt to the “unpredictability” of the current trading climate.
In the latest development of its Auto Trader Connect suite of marketing tools, which integrates real-time data sharing, the online automotive marketing giant will make its data available to stock management and retailer website providers from November.
A wider roll-out to all service users will follow in April next year.
Auto Trader’s chief operating officer, Catherine Faiers, said: “This next phase of Auto Trader Connect is an example of how we’re combining the scale of our data and the power of our technology to address key challenges our retailers face.
“We believe this is among the most powerful ways we can help our partners given the unpredictability of today’s market, and the unprecedented speed in which it’s moving.
“We know that those businesses that have already enabled Auto Trader Connect are driving better margins, greater efficiencies and an improved consumer experience.
“But by integrating our valuations, retailers will now be able to respond immediately and easily to changes in the market with the most accurate real-time valuations data available.”
Since the launch of the first phase of Auto Trader Connect, Retail Essentials, in November 2021, Auto Tradere said that more than 70 providers had integrated it into their platforms, including the likes of Click Dealer, Dragon2000, SalesMaster, eDynamix Global, Nexus Point, and The Whole Caboodle.
It claims that the system has allowed over 5,000 retailers to benefit from real-time data sharing.
Auto Trader Connect allows retailers to update multiple back-end and consumer facing systems with advanced vehicle data in real-time.
The integration of Auto Trader Valuations ushers in the application of daily pricing analysis of over 1.3 million vehicles, including 116,000 pricing updates and an average of 39,000 vehicles added or removed from Auto Trader.
Auto Trader claims it is “the most comprehensive and accurate view of the live retail market” and, earlier this year, struck-up a new partnership with the Office for National Statistics (ONS) which will see the used car marketplaces data become an official economic barometer for the authority.
Part-Exchange Valuation, meanwhile, is also set to be integrated into the platform at the same time, providing retailers with an accurate guide of what to offer a consumer for their trade-in vehicle.