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App predicts when dealers’ used cars will sell
"Vast, a company that pairs big data with artificial intelligence, once asked dealers to tell them about the one thing they wish they knew about their inventory. Dealers had a clear wish: They wanted to know when their vehicles would sell."Read the Article
Real ROI from Real AI
Save on wholesale losses, carrying costs and maximize the sales price.
Turn Cars Faster
Get recommended prices based on when you want to sell.
Do It In Less Time
Real-time alerts let you when you need to act.
Power and Beauty, All in One
Know in advance if a car will sit on your lot or sell in a heartbeat.
See which features drive cars to turn and whether or not you have them.
See how price changes impact the days on lot predictions.
Know exactly where you stand and which vehicles are the real competition.
Never miss an issue. Get alerts delivered to your phone or email.
Can’t take action? No problem, share the insight with someone else.
If you need to share the work, you can invite unlimited teammates.
Enjoy an unmatched user experience. Don’t you wish everything was this easy?
How Do We Predict Sales?
1. Analyze vehicle
First, we find which features on your vehicle affect price, demand and turn.
2. Identify competition
Then we analyze the local competition in the same way.
3. Pull recent sales history
Next we look for similar vehicles that have recently sold in your local market.
4. Evaluate consumer demand
Then we analyze online activity. The goal is to understand which vehicle features and colors are in the highest demand.
5. Make the prediction
We combine all of this to predict when each vehicle will sell at the current price. Then we run what-if scenarios across a range of prices to identify the price and sell date suggestions.
6. Close the deal
Our predictive analytics help you sell more cars and make more money.
The Cost of NOT Knowing
Remember the old adage, 50% of my advertising is wasted, I just don’t know which 50%. The same is true of your inventory. Half of it will sell too fast or too slow. The effect is the same, lost revenue and profits to the tune of $490,000/year.
CarStory Insights can help you find the 50% of inventory that needs your attention.
*Analysis assumes 150 vehicles, $40 daily holding cost, $500 average wholesale loss, $325 lost gross from fast sellers.