Vertu Motors is set to implement a new group-wide used car pricing system called Vertu Insights. It will not only provide real time used car valuations but also track each dealership’s pricing against the group strategy and divisional valuations.
While local business managers will still be able to determine forecourt pricing, the new software will also be able to update prices at the press of a button.
Revealing the system Robert Forrester, Vertu CEO, said: “Obviously this means price boards on cars are gone and now we’re using QR codes which customers can scan with their mobile phones. This also helps capture customers because it directs buyers to our website.”
The new software also shows each business manager which cars are above, at or below the divisional value and flags overage stock.
Vertu Insights will be “live within 60 days”, Forrester added.
The new system was revealed by CEO Robert Forrester at the NFDA Driving Digital conference last week. Forrester also described several other systems that have led to, or are leading to, significant efficiency gains within the group.
A full report on the event will be available in the June 2023 issue of sister publication Auto Retail Bulletin.