vAuto Introduces Key Market Metrics In Stockwave To Address Rising Used-Vehicle Demand, Weakening Supply - AutoSuccessOnline

vAuto Introduces Key Market Metrics In Stockwave To Address Rising Used-Vehicle Demand, Weakening Supply

Stockwave is a vAuto solution that helps dealers effectively and efficiently find and purchase vehicles from top wholesale sources all through a single platform.

Company’s integrated suite of market data now available to all dealers using Stockwave

Oakbrook Terrace, IL – vAuto is helping more dealerships take advantage of today’s changing automotive retail landscape — characterized by a marked shift in consumer demand away from new and toward used vehicles — by expanding its proprietary suite of market data to all Stockwave users with the introduction of vAuto’s Live Market View and Autotrader’s Scarcity Index.

Stockwave is a vAuto solution that helps dealers effectively and efficiently find and purchase vehicles from top wholesale sources all through a single platform. Through this expansion, Stockwave users — both independent and franchise — will gain access to valuable market data from vAuto and Autotrader to help them make more confident and informed used-vehicle purchase decisions.  

While rising affordability concerns are causing new-vehicle sales volume to taper, the used-vehicle market continues to hold strong. In fact, dealerships may need to be more concerned about supply than demand. To date, wholesale market growth and supply has largely been driven by off-lease vehicles. However, Cox Automotive calculations suggest off-lease volume will peak in 2019, indicating supply moving forward could become a major headwind for the used-vehicle market rather than demand itself.

Both independent and franchise dealers are starting to take notice, with approximately 33 percent of all dealers saying limited inventory is holding back their dealership, according to the Cox Automotive Dealer Sentiment Index for the second quarter of 2019. That’s an increase of 4 percentage points from last quarter.

“With the number of off-lease units at a peak and fewer consumers as a whole trading in their vehicles, the data and insights dealers have at their fingertips are more important than ever to ensure they are buying and selling the right inventory at the right time for the right price,” said Patrick Janes, business development director for Stockwave at vAuto. “As supply changes, so must dealer inventory strategies. By introducing Stockwave Market Data, both independent and franchise dealers will be better equipped with information to acquire the inventory they need and capitalize on rising demand.”

Previously only available to Stockwave dealers with vAuto Provision, all standalone Stockwave dealerships will now also have open access to the following four key metrics right in the platform:

  1. Autotrader Scarcity Index: Gives dealers an understanding of online search demand for a car relative to the number available in a given market area.
  2. vAuto rBook Market Days Supply: Lets dealers know at a glance whether a vehicle is likely to sell fast, given competing cars in the market and recent sales.  
  3. vAuto rBook Adjusted Market Average Price: Uses proprietary technology to indicate what a vehicle’s real market average pricing is with inventory mileage from competitors factored in.
  4. vAuto rBook Market Average Odometer: Specifies the average mileage of retail vehicles in a dealer’s given market.

“Having the Scarcity Index and Market Days Supply inside Stockwave will help my team save hours of scanning through search results to find the right cars,” said Craig White, pre-owned director at Ourisman Lexus of Rockville. “What we used to track through static spreadsheets is now all in one dashboard and available at a quick glance, enabling my team to make split-second decisions on vehicles that weren’t even on our original buy list. We are now nimbler, able to monitor multiple auctions at once and effectively growing our used-vehicle volume to meet rising demand.”

Links:
Stockwave
vAuto
Cox Automotive

You May Also Like

Vero, Privacy4Cars Partner on Identi-FI, Identity Theft Protection

Auto dealers within the Identi-FI program will be able to offer Vero’s suite of identity theft tools to customers as a revenue-generating service add-on during the sales process.

Vero announced an exclusive partnership with Privacy4Cars to offer Identi-FI, a full-circle solution that protects against personal data abuses by providing peace-of-mind vehicle data deletion and ID theft recovery.

The solution pairs Privacy4Cars' patented AutoCleared and Vehicle Privacy Report tools with Vero's 3-Generation Fully Managed Recovery (FMR), providing a comprehensive solution that is available now as a membership subscription to qualified auto dealers and distributors.

JM Family Enterprises Names President & COO

As president and COO, Chait will be responsible for all company operations within JM Family, working closely with the senior leadership team to execute on company strategies and drive key initiatives. 

Cars.com 2024 Dealer of the Year Awards

The awards recognize the best local car-shopping experiences across America.

Holmes Honda in Shreveport Receives 16th President’s Award

The President’s Award recognizes superior achievement in customer satisfaction, new-car-unit sales volume and business management.

Tim Lamb Group Brokers Sale of Foothills Lincoln Mazda

The Spokane, Washington, dealership has been rebranded but will be keep all existing Foothills team members at their current seniority.

Other Posts

Service Satisfaction Improves but Appointment Wait Times Continue to Grow, J.D. Power Finds  

According to the study, dealers continue to grapple with parts and labor shortages that are fueling longer wait times for appointments.

700Credit Integrates with One View

This integration will allow dealerships to store sensitive consumer information including credit reports and required compliance documentation through a secure integration into the digital deal jacket.

WarrCloud Study: Cost of Processing Auto Warranty Claims Increases by 28%

The study examined current practices surrounding warranty claims, human resource allocations, and the mechanisms of tracking and streamlining service department costs.

Solifi Launches 2024 Global Leasing Report

The report details insights about the world’s top 50 leasing markets.