PRICE

Set a strategy to optimise profit and days to sell

#FinishStrong

Price

The market changes daily, 7 days a week, 365 days a year, no matter the circumstance. Which means it’s vital your stock is priced to market from day 1. But that doesn’t mean slashing prices. It simply means adjusting your prices to reflect the current retail landscape. You may need to reduce, hold or even increase your prices depending on buyer demand, vehicle supply and other marketplace trends. Fortunately, we’ve made the data and tools available to make that easy for you.

Register for the masterclass module on pricing

Price checklist

  • Use Auto Trader valuations to price vehicles to the live market

  • Have a clear pricing strategy to optimise profit and days to sell

  • Check how you’re priced versus competitors in your local area

Pricing to the live market

Our award-winning valuations are the best measure of how to price your vehicles on Auto Trader and how to strike the balance between profit and days to sell. They provide a live view of pricing trends on our marketplace, based on matching vehicles over a 28-day period.

Watch a video on why using our valuations daily is key to your success
Find out more about using Auto Trader valuations for vans

Having a clear pricing strategy

Profit is made when you buy a vehicle, not when you price it. If you’re adding a standard profit per unit on top of your purchase price plus costs, it’s likely you’ll have some problem stock and some that sells very quickly. Instead look to implement a strategy that ensures your priced competitively on all vehicles. This can work on a forecourt basis by setting best practice rules or on an individual vehicle basis for smaller forecourts. Either way, you should set a price position based on either the retail valuation or competing vehicles on Auto Trader. For example, your strategy could be to price vehicles at 104% of the retail valuation for the first 30 days or to be in the top 3 based on price or value when compared to exact match vehicles on Auto Trader.

Watch the video on vehicle Vs forecourt pricing strategies

Checking your price position Vs competitors with Retail Check (applies to cars only)

Checking your price position compared to competing vehicles regularly is crucial to optimising profit and days to sell. Retail Check allows you to do it at the click of a button without scrolling through search and viewing competing adverts. The default view looks at exact match vehicles nationally, but you can filter the view to vehicles in your local area or to include similar vehicles. If your car is way down the list based on either price or value rank or if it’s at the top of the list by some distance it may be time to adjust your pricing slightly in line with the live market.

Watch the video on vehicle Vs forecourt pricing strategies

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