Cazana has launched its platform Cazana Comparison platform which allows dealers to price a vehicle based on the current retail market instead of historical trade values.
Companion allows a lookup of a vehicle’s real-time retail value on desktop and mobile devices. The platform also includes an accurate “days to sale” measure that shows dealers how long a vehicle will take to sell.
Combining days to sell and the available profit on a vehicle allows dealers to focus on the fast-moving, high margin cars – the two key measures needed to help sell vehicles quicker and make more profit in this competitive market, said Cazana.
Cazana’s valuations use a combination of current retail and trade selling price data to give a real-time valuation of what customers are paying for similar vehicles today, adjusted by age, mileage, condition and specification and what dealers should pay at trade (auction or part-exchange) or in the wholesale market.
Dealers enter a vehicle registration and the tool identifies the exact vehicle in question, calculates what today’s retail value is and advises on the right trade price to pay for the car. Cazana’s total coverage of the used retail market provides the only ‘top-down’ valuation giving an accurate current retail price.
Rupert Pontin, director of valuations at Cazana, said: “The industry has been asking for an accurate, current view of retail and wholesale values for a long time. Cazana Companion is a great asset to anyone who needs to value vehicles giving them an edge when pricing their vehicles for maximum profit, the best return on investment and the fastest sale.”
Companion offers additional vehicle information including depreciation, technical data and shows similar vehicles currently on-sale allowing the customer to benchmark prices against similar vehicles.
Steve Worrell, sales director at Cazana, added: “The profit corridor indicator on Cazana Companion allows dealers to make instant decisions, leading to improved margin and faster sales at the right price. This data science led insight will give customers using Cazana tools and data an edge and certainly helps identification of significant profit opportunities.”