Toomey Motor Group in Essex has used Indicata’s used car pricing data for four years to increase stock turn.
The stock turn is currently at 45 days but it has been as low as 35, said Ammar Khan, Toomey Motor Group’s general sales manager.
The Essex-based dealer group uses Indicata data to revisit pricing on every used car in stock on a weekly basis against the market and against the local competition.
“Consumers are very savvy and carry out a lot of research online before they even approach a dealer for a test drive so it’s important every one of our cars is competitively priced. It’s common for a consumer to contact us about a car if it’s a couple of hundred pounds cheaper than a rival dealer,” said Khan.
“Consumers are constantly researching used car prices online, so when a price is changed it gets updated on Toomey’s website quickly. Indicata has an APi link in place with its website provider Dealerweb, so a new price is live on its website within two hours of being updated.
“Sometimes consumers phone up and ask why a price on our website has changed so we know how switched on they are. That’s where Indicata is invaluable as we can see how competitive we are on every car in our 500-vehicle group stock but it’s not always about reducing the price of a car. Sometimes in our weekly review we increase a car’s price if the market has changed or if we have a model that is in high demand but low supply.
Toomey is ranked 52 in the Motor Trader Top 200 Dealer Groups with annual turnover of £330.7m
