Automated pricing for the automotive industry

The Problem

Prices for used cars are changing daily and sometimes can even change more frequently than this due to online algorithms. In most used vehicle dealerships, used vehicles are listed on www.autotrader.co.uk, where they provide pricing metrics, price positioning and analytics for used vehicle stock online. Dealerships therefore need to monitor and assess price changes regularly, which is usually completed by a departmental manager.

In our experience it is estimated that reviewing and physically changing the prices in cars can take the majority of a working day on a medium to large forecourt; this is even with the manager delegating the task of changing prices in the cars to the sales staff. This is most definitely not time or cost effective for either party. Any such manual exercise introduces the risk of human pricing errors, which could disadvantage your business and sales.

The Solution

The solution to updating price boards manually is to replace them with digital displays which are updated automatically via wireless communications. Digital price boards are automatically synchronised with online pricing thereby eliminating hours of effort and potential mistakes by staff.

Electronic (Digital) price boards – How they work

We supply our software and digital price boards in a unique package set up for your dealership(s).

The digital price boards look similar to traditional ones and are positioned in a vehicle the same way. In addition to the headline price, they have the added benefit of highlighting key features of the vehicle such as the number of owners, emissions, economy, transmission and mileage.

A QR code to the online advert is also shown.

An additional digital feature is including the vehicle key identifying number of the car and the remote keys can be featured on the price board itself and stands alone as a physical asset identifier.

This is the same way that most dealerships identify vehicles.

Software Application

The digital price boards are managed online in a web browser.

Simply, press a button to get the latest Autotrader vehicle data registered for your dealership and then choose a vehicle from this list to associate to each of your purchased price boards.

Key Features

*Accidental damage, vandalism and mistreatment not covered

Summary of Benefits

Frequently Asked Questions (FAQ)

A digital price board is an electronic replacement of a traditional car price board that normally hangs inside a new or used car on a forecourt or in a showroom.

The main benefit is saving many person hours spent per week on keeping price boards updated manually across a forecourt and/or showroom. By using automation, a further benefit is the potential elimination of pricing mistakes. A major benefit of the digital price board is the option to also display key features of the car such as mileage, number of owners, economy, engine size and a QR code to the vehicles’ web page for further information and other e-commerce opportunity.

The digital price board is a self-contained and battery powered enclosure that is based on e-paper technology.

Dedicated software in the Cloud or on-site can take details of each car on the forecourt or showroom from Autotrader and broadcast updates when the user requires. Meaning, you only need to update Autotrader in the future.

We are looking at ways in which location technology can be built into the boards. One potential benefit could be to locate a vehicle or group of vehicles (e.g. all automatic SUV’s) on a forecourt for potential customers.

This is currently under review, but we will be looking at a subscription service based pricing model.

There will be an initial onsite set-up/installation charge.

We welcome your feedback if you can complete our survey.

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Trade cars advertised on Autotrader.co.uk
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Manufacturer approved cars on Autotrader.co.uk
Average number of cars advertised on a forecourt