Cazana and Experian are rolling out a new pricing and provenance portal to thousands of dealer customers this month that combines each company’s Companion and AutoCheck tools.
Tom Wood, Cazana chief executive, said the teams at both companies have been working on the launch for the last 12 months.
He said: “While Cazana’s data is already used within many of the top dealers in the country, this new product elevates Cazana to being one of the largest vehicle valuation providers in the UK.
“We’re extremely happy to be making our real-time market data and insight available to more dealers to help them maximise profitability in this fast-changing market.”
Wood said the availability of stock insights and dynamic pricing data will help retailers target the right vehicles to stock and respond to market changes quickly to maximise profits.
Experian’s AutoCheck product itself now also includes Cazana’s vehicle valuations to help dealers understand the real market value of vehicles when they buy from auction or part exchange.
This is the second partnership entered into by the two companies having previously brought forward their reseller agreement in the UK financial services and banking sectors to help lenders make better informed risk decisions on the vehicles they finance.
Lisa Fretwell, Experian’s managing director of Data Services, said: “Motor traders need high quality data at their fingertips to make the best decisions when deciding which car to buy.
“The service we have created by teaming up with Cazana will help dealers to get an edge on the competition by providing real-time information on which cars they should put on their forecourt.”
Founded in 2013, Cazana originally set out to gain a better understanding of the prices of classic cars by using big data. Although it started as a hobby for founder Wood, Cazana now tracks millions of used vehicles for sale across 15 countries globally on a daily basis.