At car dealerships and other automotive businesses across the U.S. and Canada, the need for detailed, granular data has never been greater. With the right data, dealers can see a variety of trends on car sales data, pricing, competitor dealerships and more.
As a leader in automotive data aggregation, formatting and reporting, MarketCheck is uniquely positioned to help dealerships take advantage of these new data-backed insights. Here are some of the many ways to leverage MarketCheck data to the fullest to power smarter market decisions.
Price Analysis
MarketCheck Price™ is MarketCheck’s detailed price analysis tool. By comparing real-time data from millions of car listings, it helps dealers make more informed decisions when it comes to both buying and selling vehicles. Through this tool, automotive businesses can access the latest valuations, pricing history, and market shifts that enable them to stay one step ahead of fluctuations.
For example, let’s assume a dealership in Massachusetts wants to price a 2024 Chevrolet Equinox EV competitively. By using MarketCheck Price™, they can access real-time data on what the vehicle is selling for nationwide. Their research shows that the average listing price is $41,000. With this information, the dealership can price their model at $39,000, positioning themselves to be an attractive option in a competitive market while still appealing to potential buyers.
Automotive VIN Decoding
MarketCheck’s VIN decoding tool, NeoVIN, sets a new standard in vehicle build data. It captures and collects granular vehicle data at the VIN level, including nearly 220 million unique VINs from over 84,000 dealerships and OEM microsites.
For automotive parts suppliers, having detailed VIN information is crucial. Imagine a customer is looking for a specific component for their vehicle, and they share the VIN, using NeoVIN, the supplier can determine detailed build specifications, including the precise engine type, transmission and installed options in the vehicle. The supplier can then deliver the exact part the customer needs, improving their experience and increasing the odds that they’ll return.
Having this type of detailed information not only helps dealerships more effectively manage their inventory, but also improve their overall operations while increasing customer satisfaction by delivering accurate vehicle information with a simple search. When customers are able to easily find exactly what they’re looking for, they’re much more likely to not only make a purchase, but recommend the dealership to friends and family.
APIs and Data Feeds
MarketCheck is much more than just an automotive data aggregator. We also offer APIs and detailed data feeds that give instant access to data across North America. This information includes real-time details on a variety of vehicles, including:
New
Used
Certified
Private seller
Auction listings
All updated every day. This data is also normalized and cleaned, so that it can be integrated with the various systems and platforms used in the automotive industry without worrying about compatibility issues.
By integrating MarketCheck’s Inventory Search API, for example, dealers can create a vehicle comparison website which lets users in their area search available inventory based on various criteria including prices and installed options. This provides the user with immense value and allows them mto zero in on precisely the vehicle make and model they’re looking for.
Historical Price API
MarketCheck’s Historical Price API offers details on past vehicle prices. This information helps dealerships accurately value their current inventory, as well as update their pricing strategies based on different historical trends.
The Historical Price API is particularly useful to dealers, auctioneers and private sellers who want their vehicle prices to match current market trends. For example, a financial analyst wants to know how luxury vehicles have depreciated in value over the last five years.
With the Historical Price API, they can see that specific models depreciate slower than others. This allows them to make investment recommendations and help consumers make more informed purchasing decisions.
Active Vehicles Data Feed
A full dataset of dealership inventory updated each day, the Active Vehicle Data Feed includes details on all active vehicles available for sale at different dealerships. This type of competitive intelligence lets analysts and dealers alike understand what the inventory landscape looks like not only at their local branch, but across their region, state/province, or even nationwide.
The Active Vehicles Data Feed can also provide users with daily updates on dealership inventory, giving them an easy way to analyze sales trends, spot market gaps and deliver actionable insights to their sales and marketing team.
Get Started Using MarketCheck Data
Using these tools to uncover car sales data trends is a smart investment on the growth, pricing and inventory management of any dealership, supplier or automotive business. Whether your business needs to set a competitive price for the new models being released, you need to verify different vehicle specifications, or you want insights into historical pricing data on how previous models have sold, MarketCheck can deliver the answers you’re looking for.
Now is the time to take advantage of this wealth of data. MarketCheck’s data is available through a variety of flexible channels, including through APIs and customizable data feeds. By subscribing to MarketCheck’s tools, dealerships can access real-time, continuous updates on market trends, local inventory levels, pricing and much more.
Seamlessly integrate MarketCheck data into existing systems and platforms and get access to so much more than just car sales data trends. With the right information, dealers and others in the automotive business can monitor inventory, adjust pricing strategy, view competitor listings, anticipate future trends based on past pricing or sales data and much more.
MarketCheck’s data is available as a one-off report, an ongoing subscription, FTP access for large datasets and much more. If your dealership needs a specific type of integration or needs assistance, reach out to our data experts to get the support and direction you need to gather these invaluable insights for your business. Don’t wait until your competitors have the real-time data advantage. Contact us today to learn more about our automotive data solutions.
