{"id":11049,"date":"2019-10-21T11:39:25","date_gmt":"2019-10-21T10:39:25","guid":{"rendered":"https:\/\/dev.lnetdev.uk\/thevra2026\/?p=11049"},"modified":"2019-10-21T11:39:25","modified_gmt":"2019-10-21T10:39:25","slug":"vra-seminar-sponsors-blog-2","status":"publish","type":"post","link":"https:\/\/dev.lnetdev.uk\/thevra2026\/vra-seminar-sponsors-blog-2\/","title":{"rendered":"VRA Seminar sponsors\u2019 blog"},"content":{"rendered":"

Exceeding your targets with retail data<\/strong>
\nAccredited to Rupert Pontin<\/strong><\/p>\n

Times are changing and not just in the automotive industry but within the UK economy and
\nacross Europe. Conditions in the motor trade are more challenging than ever before with vehicle
\nprices volatile, WLTP causing issues and good stock hard to find. In order to combat this, dealers
\nacross the country are turning to live retail data to help maximise their profits and spot the right
\nvehicles to buy.<\/p>\n

It\u2019s no secret that UK politics are currently in a state of extreme turmoil and this, in turn, is
\naffecting the retail markets everywhere. For remarketers operating in these complicated times,
\nunderstanding the trader and by proxy, the retail consumer is essential. To get the best price
\nreturn for the vehicle on sale, it\u2019s essential to understand what the retail consumer will pay for it in
\ntoday\u2019s market and therefore what the trade buyer will be prepared to buy it for.<\/p>\n

Just like the dealers buying at wholesale, Remarketers need to switch from using out-of-date
\nmanually edited guide data. It\u2019s time to turn tradition on its head and use a new transparent, data
\ndriven method to maximise the value of vehicles. This is especially important when it comes to
\nsetting your reserve price at auction. By using realtime transparent retail data derived from
\ntoday\u2019s market you can make more margin on your assets when they are defleeted to the used
\ncar market.<\/p>\n

What is this new approach to reserve setting?<\/strong>
\nThe most effective and quickest way to set a reserve is to look at what the car would retail for in
\ntoday\u2019s market. Savvy Remarketers are working back from what the customer will pay for a car in
\nthe same way wholesale buyers and dealer groups do. By establishing what a vehicle can be
\nretailed for, the vendor setting the reserve will be able to decide what an appropriate trade
\nmargin would be and set a reserve price accordingly.<\/p>\n

Cazana\u2019s data harvesting process collates retail pricing information from across the whole market
\ninstead of just using a snapshot of data from individual classified portals or dated guide books.
\nThis ensures that customers have the very latest insight at their fingertips to maximise remarket
\nvalue.<\/p>\n

Setting reserves using Cazana\u2019s retail tools<\/strong>
\nFirst things first, it’s important to understand what the wholesale buyer is going to do with the
\nvehicle – what price are they going to sell the car or van for. This is why it is vital to know the
\ncurrent retail price of the vehicle in question so working backwards the best possible reserve can
\nbe set for the car in question.<\/p>\n

By way of example, for a vehicle that has just been defleeted and the finance department has
\ntargeted an asset value of \u00a310,000, the remarketer has to find a way to achieve this target value.
\nTraditionally, the method has been to go and look at the guide books, which may have given the
\nasset a value of \u00a310,300 and then cross reference with the original forecast value so the reserve
\ncould well be set at \u00a310,300.<\/p>\n

Historically this may have been deemed as an acceptable way to get money back for the vehicle
\nin question, however, there is a new method where not only the cost of the asset can be realised
\nbut also an opportunistic uplift to make extra margin on the asset.<\/p>\n

Looking at the retail value of the vehicle in question and working back to a trade price may result
\nin a better outcome than previously expected. The current realisable retail price for that asset
\nmay be \u00a314,500 in today\u2019s market which means the wholesale buyer stands to make a gross
\nmargin of \u00a34,200 (or 29%!) from remarketers relying on the outdated guidebook. A fairer reserve
\nprice might be \u00a311,500 leaving the buyer with a gross profit of \u00a33,000 or 20% and realising an
\nadditional \u00a31,200 for the remarketer.<\/p>\n

With realtime retail driven pricing the reserve could have been enhanced by the vendor\u2019s
\nremarketing team and a higher return on investment achieved whilst also giving the wholesale
\nbuyer the chance to make a fair retail margin on that car.<\/p>\n

If you are curious and want to learn more and trial our data for yourself to see how it can help
\nyou sell assets more profitably, please get in touch with us remarketing@cazana.com.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Exceeding your targets with retail data Accredited to Rupert Pontin Read More…<\/a><\/p>\n","protected":false},"author":61,"featured_media":9209,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[85],"tags":[],"class_list":["post-11049","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-vra-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/dev.lnetdev.uk\/thevra2026\/wp-json\/wp\/v2\/posts\/11049","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dev.lnetdev.uk\/thevra2026\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dev.lnetdev.uk\/thevra2026\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dev.lnetdev.uk\/thevra2026\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/dev.lnetdev.uk\/thevra2026\/wp-json\/wp\/v2\/comments?post=11049"}],"version-history":[{"count":4,"href":"https:\/\/dev.lnetdev.uk\/thevra2026\/wp-json\/wp\/v2\/posts\/11049\/revisions"}],"predecessor-version":[{"id":11053,"href":"https:\/\/dev.lnetdev.uk\/thevra2026\/wp-json\/wp\/v2\/posts\/11049\/revisions\/11053"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dev.lnetdev.uk\/thevra2026\/wp-json\/wp\/v2\/media\/9209"}],"wp:attachment":[{"href":"https:\/\/dev.lnetdev.uk\/thevra2026\/wp-json\/wp\/v2\/media?parent=11049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dev.lnetdev.uk\/thevra2026\/wp-json\/wp\/v2\/categories?post=11049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dev.lnetdev.uk\/thevra2026\/wp-json\/wp\/v2\/tags?post=11049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}