MCLEAN, VA and SCHAUMBURGH, IL - The National Automobile Dealers Association (NADA) and Experian Automotive are teaming up to help bring added value to NADA’s Used-Vehicle Special Study.
For the study, Experian will supply new marketplace and consumer insight information and data processing services, available to more than 2,500 of NADA’s 20 Group dealer members and NADA Dealer Academy students looking for comparative analysis on dealership performance.
The new product will offer dealers updated marketplace information powered by AutoCount market data from Experian Automotive. NADA will enhance its Used-Vehicle Special Study with Experian market vehicle and market intelligence tools to provide more accurate data collection, analysis, and study distribution by first pulling information directly from each participating dealer’s DMS (dealership management system), eliminating potentially inaccurate data entry from the dealer, according to NADA and Experian Automotive.
In addition to the financial analysis and within-group comparisons traditionally provided by the study, NADA 20 Group members and NADA Dealer Academy students will have the option to receive new marketplace analysis to compare their sales against activity across the market to help identify new opportunities. The study will also provide an added layer of consumer insight to help identify different types of used-vehicle shoppers in a particular market and help dealers build more intelligent marketing and advertising strategies, according to the companies.
In conjunction with the Used Vehicle Special Study’s enhancements, NADA will also expand its study offering to allow dealers to upgrade to quarterly analysis and request trending analysis reports over multiple quarters. Individual dealers will also be able to purchase the Used-Car Special Study for a comprehensive analysis of their business results and compare them to industry performance targets.