3 Ways the New autoniq Retail Index Takes the Guesswork Out of Buying and Selling
Ever find yourself struggling to keep tabs on your local used car retail market? In the past this might have been a secondary struggle, but in today’s world that moves fast and is full of surprises, it’s imperative to have a strong and accurate pulse on your local market; relying on guesswork or getting late information can be devastating. Don’t guess or wait around; instead look to real-time data.
autoniq Retail IndexTM, a new market report from autoniq, gives dealers unprecedented insight into local vehicle retail markets. Here’s how it works and can help you establish and maintain the pulse you need on your local retail market.
It starts with the data
When buying and selling used cars, you want as much information as possible—and you need it to be relevant and actionable, so you can make decisions fast. With autoniq Retail Index, you have millions of intuitively displayed data points at your fingertips. Powered by nearly 2.5 million VINs per day, autoniq Retail Index provides actionable data that can be used to glean vehicle performance and overall market saturation.
It’s bolstered by specificity
autoniq Retail Index provides dealers with direct access to market data on similar year, make and model vehicles within a 150-mile radius of search zip code. If you search for a 2019 Honda Accord EX-L you’ll receive results for vehicles in your market that precisely match your search criteria. Don’t waste time with gut estimations or back-of-the-napkin calculations, when autoniq Retail Index can provide you local retail market data on exact vehicles.
Quickly explore average sales price, average mileage and average days on lot for vehicles within 150 miles that meet your specific year, make, model and trim search criteria. Drill down into the averaged data to view individual vehicles in your market including exact price, mileage, days on lot, color and even the dealership where the vehicle is located.
It gives you a competitive edge
In today’s competitive retail market, it’s crucial for dealers to have a tool to gauge market saturation to set realistic expectations for vehicle potential. autoniq Retail Index is that tool; it helps you buy the most desirable and profitable used vehicles for your lot based on your market and surrounding competitors. Knowing the availability of comparable vehicles within your market will give you the information you need to competitively budget, bid, price and ultimately maximize returns.
Whether you use autoniq Retail Index to compare auction vehicles to vehicles in your local market or to understand the appetite for specific year, make, model and trim vehicles in your area, this tool gives you all the information you need to make quick and informed decisions.
Don’t make purchasing or pricing decisions based on a similar vehicle across the country, instead make decisions based on exact vehicles in your local market. When life moves too fast, digital tools are your fuel to keep up. Let autoniq Retail Index do some of the work for you, so you can have more time to do what you do best, sell cars!