Cap HPI's vehicle identification specification service, Spec check, has added the Lexus and Toyota brands to ensure car dealers do not suffer from a missed profit opportunity.
Spec check helps dealers to overcome difficulties of pricing up cars with a varied range of options by providing a list of any cost-options fitted to a vehicle at the time of its build - enabling dealers to catch missed profit opportunities on option-laden cars.
Cap HPI estimates extras could be being missed on over 400,000 vehicles per month and the average spec option price for a Lexus is £960.14 and £594.89 for a Toyota.
Cap HPI product manager, Sreenath Namelil, said: “As vehicle technology advances, having the right equipment on a car is even more critical than ever for its retail desirability.
"Missing the extent of optional extras can make it difficult to work out a vehicle’s true value.”
The inclusion of the Lexus and Toyota brands, providing a 92% match rate, increases the total coverage of cars on the road, which equates to around an additional one million vehicles.
Namelil added: “With the addition of Lexus and Toyota to spec check, we are now providing an even more accurate knowledge of vehicle specification which will help dealers to maximise margins and stock turn by providing the exact options that were factory fitted to an individual vehicle.
"It will ensure that dealers are pricing stock correctly and not underselling a high spec car.”
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