Glyn Hopkin claims to have halved its used car days in stock within 30 days after rolling out a new group-wide focus on ageing stock and introducing new pricing parameters.
The Romford-based AM100 retail group introduced Autorola Indicata used car stocking platform earlier this year and claims to have seen significant improvements in its used car trading in the months since, with the help of new marketing policies.
All 35 dealers and 13 franchises are now set to use the system after the strong results experienced first within its Honda franchise and then across its Nissan retail sites.
Fraser Cohen, managing director of Glyn Hopkin, said that the group’s entire stock of around 2,500 cars would be subject to scrutiny via the new platform.
He said: “Indicata has driven massive improvements across all areas of our used business by focusing initially on ageing stock and then by introducing pricing parameters on models in group stock the team has halved stocking days in the first three months.
“We have become more strategic with our pricing as Indicata gives us a live barometer of a used car’s value in the marketplace.
“We now change prices on some models two or three times a week to ensure we remain competitive within the fast-moving market.”
Glyn Hopkin's use of the Indicata system will unperpin its new online used car retail offering.
The AM100 group said earlier this month that it had processed its first online car sale within 11 hours of launching adopting GForces' NetDirector Auto-e platform.
Cohen added: “Our group has already achieved some excellent results for our used car business as we look to build our annual sales beyond 14,000 used cars.
“Indicata has helped the group build a new strategy and with the entire business using the platform on a daily basis we are well placed to grow volumes and profitability of our used car business.”
Neil Gilligan, Indicata's national business development manager, spoke to AM last month about the growth of the stock management platform across Europe.
Glyn Hopkin embraced the platform from the top down with the board, brand directors, business managers and sales managers all attending a three-hour familiarisation session supported by the UK Indicata team.
As well as using the system’s stock management and evaluation functions the group also uses the platform when offered bulk purchase deals by the OEMs.
Cars are run through the system first to determine a market price against sale prices and demand of nearly new stock. It ensures the group buys bulk stock at the right price.
Indicata is now present in 13 countries and is a global leader in used vehicle pricing and pricing strategy. It works with dealer groups, OEMs and leasing companies and banks to manage their used stock more efficiently.