Close Brothers Motor Finance has partnered with Auto Trader to launch a data tool that will provide dealers with insight into consumer demand in the market.
The tool will be powered by Auto Trader and rolled out by Close Brothers, collecting and analysing dealer forecourt statistics. With the information, dealers will be able to adapt their stocking and pricing strategies to better reflect the market conditions.
The tool will be available to Close Brothers’ funded dealer partner through their Account Manager platform.
Funded dealer partners who don’t have access to an Auto Trader account will still benefit from an enhanced dealer funding dashboard using data from CBMF partner APAK, helping them to better utilise their stocking facility.
Seán Kemple, managing director of Close Brothers Motor Finance, said: “The intelligence provided will bring powerful data to life and help dealers make more informed decisions around managing their forecourts. Identifying the right data and distilling it into clear to understand actions will help dealers maximise their profitability.
“In an increasingly competitive market, using data to maximise opportunities and streamline business is a natural next step for our dealer partners. At a time of rapid change and increased uncertainty, it’s never been more important to understand true consumer demand and price accordingly, so such a tool will give them the edge they need.”
Nathan Coe, chief executive of Auto Trader, added: “In September we saw over 65 million visits to our marketplace. This coupled with the 13,500 retailer partners that work with us, over 400,000 vehicles listed, and daily analysis of circa 900,000 vehicles across the market, enables us to generate the highest quality insight to support our customers’ businesses. Surfacing insights alongside CBMF’s intricate knowledge of their customers, will provide a powerful tool to help retailers capitalise on the opportunities in this incredibly fast-moving market.
“A retailers’ experience will always be invaluable, but we consistently see that the very best performing businesses are those that complement their expertise with data. Today we’re recording significant changes to price, supply and demand on an almost daily basis and so it’s never been more important to be up to date with these market dynamics.”