More than one million are now sought each month – and requests are rising month-on-month.
- Two million-plus retailer valuations complement this growing appetite among used car buyers
- Auto Trader is the most trusted provider of consumer valuations, in a diverse marketplace
- Auto Trader data is most closely aligned to sale prices, the price that matters to buyers and sellers
Auto Trader used car valuations are the most accurate of any online provider, the company has claimed today. Measured against actual retail prices, they reflect the reality of a dynamic marketplace and are increasingly seen as the natural benchmark for part-exchange, private sale and dealer retail values.
73% of consumer buyers expect Auto Trader to provide an accurate valuation for their car, compared with 34% for WhatCar? and 15% for WeBuyAnyCar, according to a survey undertaken in September 2014. And data shows how much more closely Auto Trader has been tracking retail prices compared with providers like CAP, using half a million data points from sources like autotrader.co.uk, as well as intelligence supplied by15 fleet & leasing companies and six auctions houses, including BCA.
Following the launch of consumer valuations in January 2015, Auto Trader has quickly become the most prolific online provider. In just three months volumes have soared to over one million a month. In March 2015 the site hosted X valuations, compared with X in February a rise of X %.
The figures complement more than two million valuations sought by retailer partners. In addition, more than 1,000 retailers are now using Auto Trader valuations to power i-Control, the intelligence tool that helps source the right cars at the right price, to manage forecourts in line with live market changes and to sell cars quickly, accelerating stock turn and boosting profitability.
“Nearly two thirds of all used car transactions involve cars listed on Auto Trader, and there is a clear appetite for us to provide tools like valuations to help buyers begin realistic negotiations with a dealer,” said Auto Trader’s Tim Peake. “We are proud to be the premier valuations provider in the retail market and believe the price at which cars are actually sold is the benchmark by which valuation accuracy should be judged. In a market in which transparency is king, comparisons with existing suppliers or outmoded valuation methods are just no longer valid.
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