Benchmarking Success: Utilizing Automotive Sales Data for Market Positioning

Consumer preferences and market dynamics can turn on a dime in the fast-paced automotive world. For businesses to become and stay competitive, the strategic use of sales data has emerged as a critical factor in their success. From auction data to VIN histories, this treasure trove of information offers a detailed view of the market with unparalleled granularity.

By analyzing this data, dealerships and automotive companies can glean impressive insights into consumer behavior and regional demand. Here are just a few of the many ways that today’s forward-thinking automotive businesses are benchmarking success.

What Does Automotive Sales Data Have to Offer?

Automotive sales data has a variety of invaluable insights for market positioning. The right kind of information allows marketers to tailor their strategies and better understand what resonates most with their target audience. Moreover, sales data can be further segmented by geography, demographics, and buyer behavior, allowing marketers to target customers more accurately.

For example, let’s assume the data shows a growing demand for electric vehicles in urban areas. A dealership could focus its marketing efforts on innovations in sustainability to appeal to environmentally-conscious consumers. Performance comparisons also give competitors a benchmark against their competitors to identify areas of improvement.

In short, automotive sales data isn’t just a record of transactions; it’s a strategic asset.

The Value of VIN Histories in Pre-Owned Vehicle Sales

VIN histories play a vital role in building trust between buyers and sellers. A great VIN history fully explores every detail of the listing price. This can be done by tracking the listed price of a vehicle from the moment it is put online and record every price change as well as each location change.

VIN histories also help standardize the pre-owned vehicle market, making it easier for buyers to price shop and for sellers to justify pricing. The result is a strengthened ecosystem of pre-owned cars with a culture of transparency and honesty that benefits everyone.

Harnessing Auction Data for Strategic Buying and Selling

Using auction data for strategic buying and selling can significantly increase profitability. Auction data typically includes historical sales figures, pricing trends, and popularity. In the automotive world, analyzing these details can tell dealerships the best times to sell and which makes and models are in high demand.

The strategic use of auction data can also help dealers and manufacturers better understand seasonal fluctuations, emerging trends, and customer preferences. These features, in turn, allow them to anticipate market movements and adjust their marketing accordingly.

However, this rich data set is about more than just buying and selling. Auction data analytics can identify niche markets and untapped opportunities, guiding businesses toward potentially lucrative, unexplored segments. In this way, having access to such comprehensive data is like having a forward-pointing compass that guides informed decision-making, giving companies a head-start on potential trends and regional preferences.

Private Seller Listings: Uncovering the P2P Market

Private seller listings are the lifeblood of the P2P (peer-to-peer) market. Traditionally, dealerships must navigate through a glut of listings across different platforms, each with advantages and disadvantages. However, with MarketCheck’s detailed private seller listings, all of this information is captured and neatly organized to provide both broad and granular details.

Private seller listings are more than just individual data points. With the right analysis of years of automotive data, dealerships, and manufacturers can uncover patterns and trends in the P2P market that would otherwise be invisible. Discover potential shifts in the popularity of certain vehicles or the changes in average sales prices over time. What do these details say about consumer preferences or economic factors? Private seller data can reveal these critical insights and more, whether as part of a standalone report or an API integration.

Build Data and Granular Market Analysis

Build data is yet another pivotal benchmarking tool in the automotive manufacturing and sales arena. By using build data effectively, companies can dissect and understand their products’ unique selling propositions and potential market segments.

This lucrative data covers everything from specific vehicle features to manufacturing nuances and even specific configurations for each type of vehicle. By comparing product attributes and configurations against those of competitors, businesses can better identify market gaps and refine their product development strategies.

Having these details at a granular level offers an even more in-depth precision. Imagine, for example, an electric vehicle manufacturer that reviews build data to learn that their new electric SUV excels in battery range but lags in charging time.In doing a granular analysis, they spot a surge in demand among urban, environmentally conscious consumers who have specific charging infrastructure needs.

By benchmarking this information against its competitors, the company can see a distinct opportunity to market its superior range at a distinct advantage. Such a position also allows them to address the charging time issue by using targeted improvements and strategic partnerships with other companies. This two-pronged approach allows them to meet consumer demands and position themselves in a rapidly evolving market.

Gain Invaluable Benchmarking Data with MarketCheck

These are just a few of the many areas where years of automotive sales insights from MarketCheck can prove invaluable. From auctions to private sellers, recent and active listings, and trim level breakdowns, access to this type of impactful data signifies a breakthrough in competitive intelligence. Leveraging these details for more adaptive market positioning also allows businesses to glean insights that would have ordinarily taken months of rigorous searching to uncover.

Learn more about MarketCheck’s rich and comprehensive automotive data offerings by visiting MarketCheck.com or contact our sales team to learn more. From APIs and feeds to reports and widget integrations, there’s no limit to what the data can deliver.