autoniq, a business unit of global technology solutions provider and operator of digital marketplaces for wholesale used vehicles KAR Auction Services Inc. d/b/a KAR Global announced on March 31 the autoniq Retail Index, according to a press release.
The new product is available by subscription on the autoniq app and provides dealers with live retail listing data within a 150-mile radius including average sale price, mileage and days on lot for vehicles of a specific year, make, model and trim.
“Now more than ever, dealers need real-time local market intelligence to make faster, better-informed bidding, buying, pricing and selling decisions,” said Tom Fisher, chief digital officer and EVP of KAR Global. “autoniq Retail Index aggregates data from diverse sources across the industry and distills it into clear, actionable information. We’re empowering our dealers with an easy-to-use digital tool that helps them achieve the best outcomes possible. And it’s just one more way KAR Global is evolving our data and technology to lead the digital transformation and make remarketing easy for our customers.”
autoniq Retail Index was developed in close collaboration with franchise and independent dealers searching for better, more comprehensive real-time market data. Dealers can filter and sort vehicles based on specific trims to only see the most refined and relevant data to gauge market saturation and estimate potential profit for exact vehicles. Armed with this powerful digital tool, dealers enjoy a deeper understanding of their local market and can make data-backed purchasing and pricing decisions to help maximize their profits.
“autoniq Retail Index is a game changer for dealers in today’s fast-paced industry,” said Joe Oliveri, vice president of product management and data services at KAR Global. “This technology removes the guesswork for dealers and gives them a competitive advantage by allowing them to effortlessly keep a pulse on their local retail market.”
autoniq Retail Index is available by subscription on the autoniq app for $25 a month. Existing users can add autoniq Retail Index to their account by contacting email@example.com. New users can sign up at autoniq.com/signup or by calling (866) 482-8421.