From intuition to algorithm
Jeen: “Our company has been doing well for years, so I saw no real need for change. My generation tends to trust its intuition, its gut feeling. But our younger location manager told me to check out the software from JP.cars, because of the advanced AI algorithms and the potential to accelerate our sales.
A little reluctant, Jeen decided to try out the JP.cars software – although he failed to see how a piece of software could compete with his years of experience as a certified vehicle appraiser.
More efficient work processes and rapid results
Jeen admits: “I was pleasantly surprised; I noticed the difference within weeks. And now, I do not want to work without it anymore.” Turns out the software knows more than Jeen and his 36 years of experience!
He recounts: “We had a Tesla Model S that just would not sell, despite its popularity and unique features like lifelong free charging. Similarly for a Kia e-Niro that had been on the lot for almost a year. JP.cars indicated that the Tesla Model 3 had an ETR 5 (the highest score for marketability), making it a better choice. But the truth is, I did not have a lot of faith in Teslas. After all, I already had the Model S and I saw that there were already many Models 3 on offer. But since JP.cars gave the car an ETR 5 rating, I took the gamble. Much to my surprise, the car sold in five days!
I thought that was just dumb luck, so I tried it again, this time with a Kia e-Niro. I put it up at the recommended price, and again, it was sold within days. I decided to follow a recommendation by the software and purchase a couple of Volkswagen e-Golfs. This is a car I would normally never buy, but they sold like hotcakes.”
Time savings and improved purchasing decisions
Fortis Automotive has been working with the software for a few months now. “It provides insights into cars I was never interested in. However, they sell rapidly, which is solid proof that the software works well. We make many more sales now and I can tell by all the activity in our workshop. Our mechanics are struggling to keep up.
The software saves me time as well, as it speeds up the valuation process. Previously, it took me hours to valuate hundreds of cars from a leasing company. JP.cars can do that for me within minutes, while indicating the marketability as well. These extra hours allow me to fine-tune the business, focus on the stock or even take more time off.”
Looking to the future
Looking ahead, Jeen foresees a bright future with JP.cars. “The software not only sheds light on the most marketable cars of the day, it also enables us to manage our margins better. We currently have 120 vehicles in stock and they are all competitively priced. We review them weekly, with JP.cars helping us analyze the market and monitor price reductions and markups.
JP.cars tells us which cars need to be valuated again and what our market position is. The technology also flags any options that are present, but we forgot to list. The software is invaluable,” Jeen concludes.
