Firms Develop Inventory, Pricing App Featured

By Staff Writer February 27, 2019 415

J.D. Power, with a partnership with CarStory, has developed a solution that provides insight on used vehicle market prices and inventory decisions in its new MarketValues application.

The 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 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.

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Last modified on Wednesday, 27 February 2019 14:06