Build trust to maximise buoyant used car activity

Building trust and confidence with used car buyers is a direct path to increased stock turn, maintaining higher margins and greater profitability. 

While new car sales continue to slip according to monthly VFACTS reports, buyer activity and demand for used cars remain strong. In December, carsales served 23.7m sessions, up 8% on the same month in 2018.

“With buyer activity buoyant in the used car arena, building trust and confidence with used car buyers – now more than ever – is a direct path to increased stock turn, maintaining higher margins and greater profitability overall,” explains Barry Freeman, CEO at RedBook Inspect.

Independent vehicle inspections carried out by RedBook Inspect specialists are proven to win the trust of car buyers on carsales.com.au. Each RedBook Inspect report is a transparent assessment of the condition of a specific inventory item, covering key areas such as engine, interior, underbody and accident damage. All inventory that obtains a four-star rating or above and falls under a certain age and kilometres travelled are branded with a RedBook Inspect Certified badge on carsales.com.au that is highly visible when buyers complete a search. All other vehicles still receive an inspected badge for greater exposure and reports can be published for buyers at the dealers’ discretion.

Recent data from carsales.com.au showed that inventory with a RedBook Inspect report attached to the listing generated 94% more buyer enquiries than matched vehicles.* Furthermore, RedBook Inspect certified vehicles received 150% more interstate enquiries than matched vehicles.*

In addition, inventory with a RedBook Inspect report attached realised, on average, 2% higher sales margins compared to matched vehicles.*

“Much of what makes buyers hesitant about purchasing a used car is the condition of what they can’t see. For dealers, vehicle inspection reports are a cost-effective way to eliminate doubt over condition to build trust and confidence with car buyers searching on carsales, resulting in more sales opportunities to convert,” adds Freeman.

New cost-effective RedBook Inspect subscription plans

Empowering dealers with greater flexibility and cost-effectiveness, RedBook Inspect is pleased to announce new subscription plans available to purchase directly from AutoGate.

The new plans enable dealers to select how many visits are required from a RedBook Inspect specialist based on their stock turnover, across a 3, 6 or 12 month timeframe.

“After listening to feedback, our new subscription packages have been tailored to meet the needs of dealers big and small. It gives dealers cost-effective and convenient options based on their stock turnover and may enable our specialists to inspect more inventory per dealer visit,” says Freeman.

Log into AutoGate to get started with RedBook Inspect.

 

Source:

*Internal carsales data 01/08/2018 – 01/04/2019, comparison of 1,495 RBI inspected vehicles against over 15,000 equivalent non-RBI inspected vehicles matched for odometer reading within 10%, same RedBook code and build year within one year.