Want to know what’s going on in your home market or in your neighbour’s market? Experian Automotive says it has the answer.
Experian Automotive says it supplies market intelligence that helps car dealers – the company says it serves over 15,000 dealers in North America and 70 per cent of the OEMs – to help them understand the market, the vehicles and the people who buy them.
Company sources include Canadian vehicle registrations, credit and vehicle valuations as well as “advanced analytics.”
Experian’s V-P technology and operations Mark Ellis said his company doesn’t collect data and simply dish it out.
“We take the complexity out of the various reports and make them say something that clients can use.”
Ellis says the company can draw on 50 million Canadian vehicle records, 23 million of them still on the road.
“We don’t throw anything away.”
He says dealers can use Experian’s data for a variety of reasons such as the location of their next dealership, how many bays it should have, where the dealer’s brand is popular and where it’s not.
He noted other uses for the data included deciding what other brands and vehicle types are popular in the trading area and how old they are. That’s helpful when deciding what used vehicles to stock and whether it makes sense to keep on stocking certain parts and training technicians.
“We take the data and help it tell a story,” Ellis said.