Including an EGC (Excluding Government Charges) price with your stock has many benefits for your business and Australian car buyers.
Below are 4 key reasons why you should add EGC pricing to your stock listed for sale on Australia‘s number 1 site for cars.
1. Ranking higher on Price (Low to High) sorting
In a recent analysis of the search and sorting behaviour of Australian car buyers, we revealed that sorting preferences varied greatly by make.
Buyers searching for Mercedes-Benz, BMW, Audi, Land Rover, Porsche and Lexus models sorted their results by the Price (Low to High) option 33% of the time, as compared to those searching for models from mainstream makes, which used this option 25.9% of the time. Audi was the make that had the most buyers sorting by Price (Low to High), followed closely by BMW.
The search results generated by using the Price (Low to High) sort option are based on EGC pricing. As a consequence, including EGC pricing on your listings will enable you to rank higher in search results when a buyer selects to sort by this option.
Check out our comprehensive brand by brand sorting analysis here >>
2. Price Indicator in AutoGate and on carsales
The latest upgrade to AutoGate’s leading Inventory Management capabilities is Price Indicator. Price Indicator provide you with a guide to where the price of your stock sits in comparison to similar competitor items listed on carsales and is formulated with a Kilometre Adjusted Pricing (KMAP) matrix.
By simply clicking a vehicle’s details page from AutoGate’s Inventory Management page, you’ll be able to view if your vehicle has been tagged with a Good or Great price indicator, or alternatively, you will receive an explanation as to why your stock has not received a tag.
Price Indicator is generated by EGC pricing in AutoGate. We recommend that you provide an EGC and Drive Away Price (DAP) to every stock item in AutoGate. If you do not provide an EGC price, AutoGate will calculate one and use it for the purposes of the Price Indicator only.
If your stock is updated via a batch feed, please discuss with your DMS provider to include EGC pricing in your feed.
Where will Price Indicator appear on carsales?
Where a Good or Great price indicator is generated on a stock item, they will appear for consumers browsing carsales.com.au. Price Indicator can help buyers spot the value dealers are delivering and provide additional incentive for a buyer to click through, explore a stock item in greater detail and place a qualified enquiry.
3. Easier comparison between Private and Dealer stock
EGC pricing enables you to better match your stock against private seller stock on carsales. Private seller stock is only displayed with an EGC price; hence the addition of an EGC price to your stock allows car buyers to make an easier comparison and more informed decision between the true price of your stock item, and a competing private stock item.
4. Better interstate comparison
One of the effects of digitising much of the search process is that buyers are now more willing to travel great distances to visit a dealership or purchase sight unseen if they were offered a better price, value for money or perfect purchase option.
carsales data between April 2017–March 2018 uncovered that 18.75% of enquiries placed on dealership stock items priced between $20,000–$100,000, were placed by buyers in a different state or territory.
As government charges vary by state and territory, adding EGC pricing to your stock enables you to present a more comparable price to buyers that are evaluating purchase options beyond the confines of their state.
Discover more about interstate car buyers with our interactive analysis here.
It’s easy to add an EGC price:
1. Log in to the Inventory Management page of AutoGate
2. Select a stock item
3. Click Edit
4. Use the left-hand side navigation pane to click Price
5. Enter an EGC price
(Or speak to your DMS provider about including EGC pricing in your batch feed)
For more comprehensive market analysis, including data on current listings and recently delisted vehicles, plus the ability to configure your own parameters, use LiveMarket.
Discover more about LiveMarket here >>