“Does it have a high marketability and will it sell?” is a frequently asked question in the automotive industry. Answering this question consumes a lot of time and effort. “Previously, to determine the purchase value and selling price of a car, we would browse websites listing cars for sale. Not very efficient,” says Mark Slegt, Used Car Manager at Auto Hoogenboom. “Towards the end of 2021, JP.cars came on our radar and demonstrated that their data was sufficient to answer this question.”
Consequently, Auto Hoogenboom decided to work with JP.cars. The software provides a wealth of relevant information, which according to Mark is unique in the automotive industry. “You can quickly assess the car’s marketability and price worthiness, which helps us work more efficiently.”
Since the start of this year, Mark has been actively working to harness the full potential of JP.cars, utilizing it for purchasing and dynamic pricing.
Adapting to market developments
“The used car market fluctuates so much that we need to consistently monitor our inventory to maintain turnover rates. This gives rise to what we call: Dynamic Pricing. Every week, we review our advertised inventory to determine if adjustments are required, guided by the data JP.cars offers.”
A foundation for decision-making
But that’s not all, as Mark points out: “To employ a successful strategy, you need insights. JP.cars grants clarity through management reports. For every branch, we can view the vehicles available, along with their days on lot, turnover speed, and marketability relative to the broader auto market.”