Money-Saving Solution: J.D. Power Launches Inventory App that Integrates NADA Values and Predictive Analytics
Enhanced MarketValues App is Now Available in the Apple App and Google Play Stores
COSTA MESA, Calif., Feb. 26, 2019 /PRNewswire/ -- Buying the right used vehicle inventory at the right price that optimizes profit and turn rate is a constant challenge for automotive dealers. J.D. Power, with a partnership with CarStory, has developed a solution that provides insight on used vehicle market prices and inventory decisions in our new MarketValues application.
The all-inclusive app can be used by scanning a VIN or input year, make and model details to get the NADA Values of wholesale, trade-in, retail and loan autos while also allowing for AutoCheck or CARFAX account integration to provide vehicle history report information.
The MarketValues application integrates CarStory's sophisticated machine learning techniques and current market data to determine how much a vehicle will sell for and when. The application considers market factors like supply levels, shopper demand, competitive vehicles and dealership performance to predict how a potential acquisition fits into the market and how it will sell.
"This app was created to provide dealers with a comprehensive tool to quickly see very accurate vehicle valuations, history and features while also providing market and competitive insight to ensure they have all pertinent information in one convenient place," said Jonathan Banks, Vice President of Vehicle Valuations at J.D. Power. "With the help from CarStory, MarketValues gives the dealer the power to make better buying decisions."
"With interest rates on the rise, dealer margins are under extreme pressure. Knowing how fast a car will sell for and when is now a requirement. Combining NADA's market value data with our predictive analytics, JD Power dealers now have access to dealer-specific predictions, helping them make the best possible decisions when acquiring vehicles," said John Price, CEO of CarStory.
For more information on the MarketValues app please visit: www.nada.com/marketvalues.
J.D. Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable J.D. Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, J.D. Power has offices serving North America, South America, Asia Pacific and Europe.
Used by over 16,000 dealers, CarStory combines artificial intelligence (AI) and the industry's largest database of inventory and shopper insights, to help dealers sell more cars and make more money. As the pioneer of Inventory Intelligence, CarStory's predictive AI sets a new standard for transforming analytics into answers. Their VINspectTM data platform ensures dealers and partners have the most accurate view of a vehicle possible. To learn more visit: www.carstory.ai.
Media Relations Contact
Geno Effler; J.D. Power; Costa Mesa, Calif.; 714-621-6224; [email protected]
About J.D. Power and Advertising/Promotional Rules www.jdpower.com/business/about-us/press-release-info
SOURCE J.D. Power
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