By David Toscano, Trade Content Editor, carsales.com.au
Australia’s car dealers have pivoted during the nation’s COVID-19 response to provide new customer-centric services. A key change has been the move to ‘buy from home’ transactions.
Via a rapid rollout, RedBook Inspect too has evolved its offer and is now delivering added agility to an important aspect of these ‘new normal’ new or used car purchase — remote trade-in evaluations.
Savvy dealers are now facilitating remote sales transactions by booking a RedBook Inspect evaluation of trade-in vehicles at the prospective new or used car buyer’s home.
The RedBook Inspect service is booked via AutoGate and can be completed within an hour by a qualified and trusted mobile inspector.
Upon receiving the comprehensive digital vehicle report from RedBook Inspect, dealers can then confidently confirm a trade-in price with their client.
“We’re proud of the role that RedBook Inspect has played in helping dealers during this challenging period,” says Barry Freeman, CEO – RedBook Inspect.
“Car buyers have appreciated the transparency and convenience of at-home trade-in evaluations, and it’s been a key innovation to fast-tracking remote sales for our dealer clients,” Freeman stated.
Maximise rebounding used car activity
Australia’s strong performance in flattening the COVID-19 curve has had a noticeable effect on auto consumer confidence, with intent to purchase a vehicle on carsales increasing on March levels.
It’s also had the potential to bring new customers into the auto marketplace. In a recent carsales survey, 58.8% of non-car owners responded saying that they are more likely to consider buying a car, and 38% are ‘definitely’ likely to consider buying a car ‘right now’.
As buyer activity on carsales continues to improve, Freeman says adding inspection reports to published inventory on carsales has strong benefits.
“As new buyers enter the market, building trust in your inventory and business is important. RedBook Inspect reports on your carsales listings can help this,” says Freeman.
“Consumers that are new to the prospect of owning a vehicle are likely to be extra cautious. Additional transparency around a vehicle’s condition – especially from an independent third party – contributes to buyer confidence,” Freeman stated.
And as shopping activity picks up on Australia’s #1 for cars, it’s apparent COVID-19 has influenced vehicles buyers’ choice. Based on year-on-year comparisons in April 2020, carsales saw 15% growth in enquiries on used cars under $10,000.
“Much of what makes buyers hesitant about purchasing a used vehicle under $10,000 is the condition of what they can’t see,” says Freeman.
“Delivering a transparent assessment of the condition of a vehicle, covering key areas such as the engine, interior, underbody and accident damage, can help dealers convert more sales opportunities.”
For dealers, adding a RedBook Inspect report on an inventory item can also assist in maintaining pricing and negotiating power. Inventory with a RedBook Inspect report attached realises, on average, 2% higher sales margins compared to matched vehicles.*
“RedBook Inspect reports can pay for themselves by helping dealers achieve better sales margins. This is especially important for vehicles at the $10,000 price point where there’s less room to move,” adds Freeman.
Hear about the benefits of using RedBook Inspect from dealers putting it to the test
Coming soon: RedBook Inspect Remote Video Assessment
Remote buyers are increasingly reliant on dynamic visual media to assess a car from their smartphone or computer. Video content, such as those uploaded to listings via AutoGate, has been central to dealer efforts to effectively merchandise inventory and provide more context around vehicle features and pricing.
And with social distancing, hygiene and travel concerns likely to linger for many months, RedBook Inspect has gone one step further for consumers and dealers, pushing innovation with a new video solution called Remote Video Assessment (RVA).
Soon to be released, RVA allows a qualified mechanic to complete a remote video walk-through of the vehicle to help the prospective private buyer make a more informed purchasing decision.
“We’re excited by the future potential of RedBook Inspect Remote Video Assessment as more buyers weigh up purchasing a car sight unseen and from the comfort of home,” says Freeman.
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