Price Driver refresher
Published on: Mar 4, 2016
Transcripts - Price Driver
DealerTrack AAX The industry’s leading inventory solution. Better Data. Smarter Decisions. Proven Results. Inventory Price Driver Refresher© 2012 DealerTrack, Inc. All rights reserved.
February 25, 2013Presenter: Tino Rossini
Introduction■ You are all familiar, and are all using Price Driver in your daily usage of AAX.■ Over the past few weeks in discussions with various dealers, it has come to our attention that there are some possible misconceptions and confusion regarding Price Driver.■ In an effort to make Price Driver easier to understand, use, and the results more relevant.■ A refresher on Price Driver when you are appraising, and to manage your inventory.
How Does Price Driver Work?■ Price Driver gathers market data supplied by a third party that is matched to the VIN of the vehicle that is presented to Price Driver.■ To arrive at the most relevant data Price Driver uses Chrome to decode the VIN.■ Price Driver initiates a process to match VINs to arrive at identical market matches to your vehicle.
Gathering Data There is an immenseamount of market data that is available, and in aconstant state of evolution.Price Driver captures themost relevant market data by matching the VIN. To provide you with an immediate picture of theretail market for the specific vehicle.
When Appraising 1Ensure that the vehicle is identified as eitherCanadian or US, and the series is also identified. 2 Match the vehicle to the Black Book 3 Then go to Price Driver.
Price Driver – Exact Matches 1How many exact matchedvehicles are offered in the market. 2 The listing of exactmatches, as you know youcan click to see the actual vehicles. 3The average market price
Price Driver – Similar Matches If Price Driver through Chrome cannot exactly match VIN’s it will display similar matches. 3 To refine the similar vehicles select the seriesand trim that fits the vehicle you are appraising.
Price Driver Advantages / Practices when Appraising■ Price Driver provides a picture of the current retail market to improve the appraising decision process.■ Price Driver gives an overview of what the customer uncovered of the retail market for his vehicle when doing his due diligence.■ Price Driver results are used by dealers to close deals.■ Price Driver enables dealers to quickly decide if a vehicle presents a viable retail opportunity.
Inventory Management with Price Driver 1From the dashboard page click on Price Driver.Price Driver will review the entire inventory.A you know the inventory must be booked, with current retail prices to generate meaningful results.
Inventory Pricing Management with Price Driver 1 Center graph is a quick overview by age of yourpricing compared to current market conditions. 2 The pie chart provides a status of how your overallinventory pricing compares to market conditions. 3Clicking on any of the bars will display the specific units.
Inventory Vehicle Pricing with Price Driver 1 The red star is an immediate visual of the position of your vehicle compared to the market. 2Verify that you have exact or similar matches. 3 Adjust/calibrate your pricing.
Take a Moment and Thank You! I truly appreciate your feedback, regarding this refresher. Has it been useful? Would you like to see more?On which components of AAX? How often?