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AM Live used car insight to explore market's return to 'equilibrium'

AM Live 2019 seminar

Experts from across the used car industry will share their unique insights on what has been a rollercoaster market over the last 18 months at Automotive Management Live 2021.

Cox Automotive and Real World Analytics will be among those delivering presentations on the day, exploring when the sector might return to a state of "equilibrium", and backing up the insight delivered at stands across the event at the NEC, near Birmingham, this Thursday (November 11).

Cox is putting together an all-star panel that will draw on the combined expertise of members from its retail solutions brands - Modix, Codeweavers and eVA.

Delegates to AM Live will hear tips on how to create the best used car buying experience, with the expert panel featuring Stuart Miles, managing director retail solutions, Cox Automotive; James Smith, country director, Modix UK; Andrew Heywood, head of client engagement, Modix UK; James Talbot, UK head of product, eVA Valuations & Appraisals; Victoria Shore, senior client relationship manager, eVA Valuations & Appraisals; Shaun Harris, commercial director, Codeweavers.

AM Live logoThey’ll share their insights on shifting consumer buyer behaviours and how this is defining a new omni-channel customer experience expectation, including the role of vehicle presentation, search, finance and part-exchange in an increasingly digital world.

Used vehicle acquisition on data steroids

Real World Analytics (RWA) will also put together a best practice session on using data to help navigate the current pricing and stock acquisition dynamics within the used car market.

Neil Murphy, RWA automotive data scientist, will be joined by Paul Keatley, client development director at Auto Trader to help delegates with new ideas to take back into their business.

RWA estimates that while dealers are currently making more money from used vehicles than ever, most are still leaving behind £200-300 per vehicle on average due to not having the right information at their fingertips when buying and selling.

In this case study from a large dealer group the AM Live audience will learn how to leverage the correct analytics tools and their own data to sell better.

By having the right insights and the pricing in their region, this dealer moved their average selling price from 98% of the market to 103%.

Murphy said: “Armed with the details of their stock and the demand they can go to the market and buy the right vehicles at the right price – all the time.

“At some stage the used market will return to equilibrium. Dealers need to have the up to date information on the demand to ensure that they do not buy into margin and days to sell problems.”

To explore more about AM Live, and to register to attend for free, click here to visit www.automotivemanagementlive.co.uk

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