Spring is here. The warmer weather will soon be driving prospective car shoppers out in search of new vehicles. Now is the time to prepare your dealership with an aggressive plan to attract these prospective in-market car shoppers. To do that, you’ll want a clear picture of the local market and competitive environment. A review of recent vehicle sales transaction data in your market will provide deep insight into trends and movements that can help identify where your competition is selling, which vehicles are the most in demand, and where there are opportunities to gain market share.
State DMVs are an excellent resource for this type of information, but getting the data on a consistent basis can be challenging. Fortunately, Dominion Cross-Sell has already done the legwork, compiling data from 25 partner states and generating custom reports that provide dealers, media companies, and financial institutions with the insight needed to understand the local automotive market. Cross-Sell Reports are the industry’s most-respected source for timely, accurate vehicle sales transaction data, providing reports for new and used vehicles in a number of formats. Cross-Sell Reports give dealers the insight they need to make more informed inventory, F&I, and marketing decisions.
1. Take Advantage of Fresh, Accurate Monthly Market Activity
These insightful reports are updated monthly, providing a current view of the local market:
SnapShot Report – This one-page resource features high-level data that quickly assesses critical market changes. Dealers get a snapshot view of the top vehicles, zip codes, segments, makes and lienholders in a specific market. With this data, dealers can see where they stand in the market and identify the best ZIP codes to optimize your marketing campaigns.
Market Analysis Report – Dealer and Lienholder Summaries track the pulse of each local market. You’ll know what each of your competitors are selling and how much, so that your dealership can develop a penetration strategy to gain market share.
2. Make a Quarterly Review of the Market
A look back each quarter can provide a valuable perspective:
MarketINTEL Report – This report is distributed quarterly, reviewing the previous 6 months. With the MarketINTEL Report, automotive dealers pinpoint the trends impacting the market and uncover new opportunities. Statewide heat maps make it easy to make quick adjustments by understanding market trends.
3. Dig into Deeper Insights
If you really want to dominate your market, you won’t want to rely on static information:
Cross-Sell Interactive gives you access to all the Cross-Sell Reports when you need them most, with the ability to drill down for deeper, more robust details. Dealers get the all-in-one overview of the SnapShot Report, the competitive and lienholder summary details of the Market Analysis Report, and the 6-month insight of the MarketINTEL Report all in one convenient online resource. The easy-to-read dashboard gives quick access to the reports used most frequently.
By drilling down to deeper details, dealers can examine the exact vehicle sold, the price paid, the lending source, and zip codes of the buyer/owner and selling dealer. Cross-Sell Interactive has the insight to truly understand and dominate your market.
When your dealership is armed with this information, you’ll have the ability to assess the market and take advantage of sudden market shifts that will help you out-perform the competition. Happy selling!
You can get more information about these reports on our website. We’d be happy to walk you through the unique benefits of each report.
