Auto Trader has launched a new market insight tools for retailers, helping them to identify and react to market trends as they happen.
The tool was initially scheduled for launch later this year, but was brought forward in light of the current conditions facing retailers. The product will be made available through a retailer’s advertising package with Auto Trader.
Retailers will receive vehicle supply and consumer demand data in both local and national marketplace, together with pricing and predicted speed of sale trends. There will also be year-on-year comparisons of market health each week.
Nathan Coe, chief executive of Auto Trader, said: “The automotive industry has faced a series of unprecedented challenges over the last few years. However, nothing could prepare retailers for the huge impact COVID-19 is having on their businesses. At a time of such uncertainty, we believe that it’s more important than ever to have the ability to identify and understand critical changes in the market.
“Data, alongside one’s own expertise and experience, is invaluable in adapting to a fast-evolving landscape. That’s why we’ve done all we can to give our customers the benefit of our market intelligence as soon as possible to help navigate these unique challenges.”