We verkopen onze voorraad sneller, met betere marges dan voorheen

Automated valuation of used cars and inventory management

We were looking for a tool to value trade-in vehicles faster and smarter. During the demo, we discovered that the software has much more to offer. It is about making our entire purchasing and sales process more effective. As a result, we can respond to market changes more quickly. That was the deciding factor for us to proceed with the software from JP.cars.

Car prices always in line with the market and own pricing strategy

During the pilot, we had a weekly meeting with JP.cars to refine our knowledge of the software. Together, we defined the framework the data needs to work for us: our own protocol. JP.cars also prevented us from setting prices too much according to our preferences, encouraging us to give the data a chance.

Better margins through the use of up-to-date data

This is a risk of the trade, because when you see a nice car that isn’t selling well, you are inclined to think: “Surely that should be possible for that price?” But if the data indicates that the market value is lower, then you have to be able to listen to that as well and not react too emotionally. With the data, we can now calculate our prices better and have more margin to lower them if necessary.

Current sales data based on nationwide coverage

We use the software to quickly appraise trade-in vehicles. With the software, we can see where the car sits in the market. We used to have other channels for that, but the data from JP.cars is much more extensive.

Insight into the entire Belgian market

The software contains data from the entire Belgian market. Moreover, it concerns sales data, not asking prices of used cars. That selling price is very important to us, because we base our purchase prices on it. Overall, it is a fantastic tool that helps us determine the current purchase value of a vehicle.

Our stock management has become much simpler thanks to the software. Previously, we had to filter and copy financial stock lists into Excel; JP.cars offers us the ability to do this in a much more efficient way.

Anticipate market changes more quickly

In the reports, we can easily see the price evolution of specific models in inventory. The software automatically provides adjusted price proposals based on market developments. This applies not only to vehicles that have been in stock for a longer period, but also to vehicles we have just purchased whose market value is decreasing due to increased supply from other dealers. We can anticipate this much faster because we see daily which vehicles need to be modified.

More efficient purchasing and less margin loss

Now that we have been working with the software for about six months, we can also look at our internal data to improve our purchasing policy. For instance, we can now see what has sold well recently and at what price, allowing us to repurchase similar vehicles. Previously, we screened the offers we encountered using the software, but now we can act on recommendations the software provides. That saves a lot of time. We can now purchase more efficiently and limit margin loss.

Easily optimize daily prices

I notice that we are working much faster and more efficiently now. As soon as a vehicle is in the software, you have all the data at your fingertips immediately. You see the market value and your margin on used cars right away.

We used to do this in a spreadsheet, which took us hours. Now, our sourcing team can check daily whether our inventory is still priced correctly and make adjustments immediately where necessary.

Lower number of stock days and healthy margins

Since using JP.cars’ software, we have been able to clear out our old stock – and that went very well. Now that we use JP.cars, we simply sell faster, with better margins than before.