Boost car sales with cutting-edge data, connectivity, and analysis.

author: FutureCar Staff    

Sourcing, stocking, and selling used cars for franchised retailers has become more complex in recent years. The process is further complicated by the need to closely match cars to buyers, minimize the amount of time the cars spend in stock, and stay ahead of changing market conditions.

Having complete oversight of a vehicle from the moment it is sourced to the moment it is sold is crucial. This ensures that the vehicle's route to market is fast and efficient, and any issues, such as delays in preparation or lack of imagery, can be identified and addressed immediately.

A single inventory management solution that provides rich vehicle data is essential. This solution helps manage and feed accurate and detailed content to online marketing channels, avoiding pricing and specification inconsistencies. It also enables vehicles to be matched to the right buyer at the right time.

Retailers are increasingly turning to Autofinity's ViHUB, which offers complete oversight of group stock, including pipeline and demos. ViHUB also pools all of a vehicle's data in one place, creating a "single view of the truth."

"ViHUB is a platform that integrates with DMS and vehicle data providers, such as Cap HPI and OEMs," explained Autofinity CEO Andy Whitehair. "It provides a single content pool that feeds all online marketing channels. Any discrepancies or issues that do not meet dealer criteria are flagged, allowing for fast rectification before a vehicle is listed for sale."

As soon as a vehicle is purchased by the group, it can be uploaded onto ViHUB, regardless of the source (e.g. part-exchange, auction, or platforms like carwow). ViHUB feeds all websites, including the dealer's own, the OEM website, and platforms like Auto Trader, with a vast data pool collected from multiple sources. This helps better match stock to potential buyers during online searches, increasing conversion rates and reducing the amount of time cars spend in stock.

"If the vehicle data, including price, description, and specification, is not accurate, located in one place, and assisted by automation, the entire process, from sourcing to sale, is hindered," added Whitehair. "Having a holistic overview and full control of used car inventory is crucial for speed to market, reducing days in stock, and effective online marketing."

Autofinity is sponsoring the used car stocking panel discussion at this year's AM Live on November 9th. Andy Whitehair will be participating in the Q&A session. Autofinity will also be offering a 3-month free trial of ViHUB at their stand (C26), providing retailers with insight into advertising and stock performance.

FutureCar Staff