As today’s digital-savvy shoppers do more of their new and used vehicle shopping online, they need access to quick and accurate vehicle information. Vehicle identification number (VIN) details are essential for helping them get a complete picture of the cars under consideration and compare models across multiple dealer websites. To meet this consumer need, automotive retailers have tried to provide accurate VIN data; unfortunately, most standard VIN decoders have fallen short, leading to missed opportunities, lower profit margins and unsatisfied customers.
Complete Visibility Needed for Vehicle Build and Value
Although standard VIN decoders claim to provide comprehensive results, most can only produce portions of the 17-character VIN, resulting in vehicle valuations that are incomplete and inaccurate. Many won’t even denote the appropriate vehicle trim, much less a complete description of all options and manufacturer-installed packages. This leaves retailers, valuators, and some insurers to visually inspect each vehicle — an arduous process that leads to inaccurate vehicle descriptions and MSRP valuations, incomplete retail listings and longer appraisal times.
For consumers and dealers alike, fast, accurate and reliable VIN information has moved from a “nice to have” to a “must have.” And now, it’s finally here.
Introducing Cleansed, Enhanced and Detailed VIN Data
The CDK Neuron Advanced Vehicle Lookup API from CDK Global solves the problems caused by the inaccurate and insufficient data that automotive retailers, marketers, insurers, financial lenders and their customers have had to live with using legacy VIN decoders. Our API provides vehicle valuators with access to cleansed, normalized, and enhanced OEM build data from our extensive and comprehensive vehicle reference library, including almost 30 OEMs. With that kind of complete visibility into a vehicle’s true build, history and current profile, users can create expedited workflows, increase profitable sales, and enhance consumer retail experiences through accurate and consistent listings.
The API reveals all feature information including interior and exterior colors, factory-installed options and packages and the MSRP valuation. Early adopters now have the total picture of a vehicle's configuration and true value — a big step toward better sales, a bigger competitive advantage and stronger customer loyalty.
Improves the Process for Everyone
Advanced Vehicle Lookup delivers the kind of essential data that enhances the car-buying experience at multiple touchpoints:
- Customers get better and more extensive data for the new and used cars they’re interested in, creating clearer choices that make for more confident decisions and brand loyalty.
- Dealers will have access to the most accurate build data and vehicle information, leading to more substantive discussions when a customer is interested in a specific type of vehicle they may have seen when comparison shopping.
- Digital retail marketers will increase sales with detailed listings for vehicles with accurate and consistent pricing and enhanced records for all advertising and merchandising of new and used vehicles.
- Financial lenders will increase acceptance rates and save time on loan submissions by eliminating manual vehicle data entry and creating a synchronized view between the dealership’s records and their own.
- Merchandisers with quick access to enhanced build data across OEMs, including specific features and options, will be able to price more competitively and increase profitability for both new and used vehicles.
- Auto insurance companies will have access to detailed vehicle descriptions including as built (at the time of manufacturing) safety and technology features for accurate appraisals during sales and efficient claims processing during repairs.
Because Knowledge Really Is Power
Retailers and vehicle valuators need reliable, intelligent insights and greater knowledge of the vehicles that drive their business. You’ve been asking for it, and with the powerful data of CDK Neuron, our Advanced Vehicle Lookup API delivers.
For more information on all our Neuron solutions, visit neuron.ai.
Sandy Orlando is Senior Vice President, Data and Fortellis at CDK Global. Partnering with engineering, she delivers solutions to dealers and OEMs that drive efficiency, transparency and profitability.
About Fortellis Automotive Commerce Exchange™ Platform
Fortellis is a technology platform that enables the automotive industry to leverage, build, innovate and integrate solutions and workflows to transform business. The Fortellis platform—with its Developer Network and Marketplace—connects software developers, OEMs and dealers so they can create new and unique experiences efficiently and seamlessly. Visit fortellis.io to learn more.
About CDK Global
CDK Global (NASDAQ: CDK) is a leading provider of integrated data and technology solutions to the automotive, heavy truck, recreation, and heavy equipment industries. Focused on enabling end-to-end, omnichannel retail commerce through open, agnostic technology, CDK Global provides solutions to dealers and original equipment manufacturers, serving nearly 15,000 retail locations in North America. CDK solutions connect people with technology by automating and integrating all parts of the dealership and buying process, including the acquisition, sale, financing, insuring, parts supply, repair, and maintenance of vehicles. Visit cdkglobal.com.
Authored on Thu, 05/05/2022 - 08:14