Tuesday, Jun. 16, 2020, 04:04 PM
KAR Global has launched an online suite of interactive dashboards providing data and insights into the retail and wholesale used-car markets.
Powered by KAR’s data science and analytics platform DRIVIN, the site includes interactive maps and graphs that allow users to access aggregated trends or more specific statistics into the retail and wholesale markets.
KAR had originally planned the site to be for internal use only, but is now allowing public access.
“KAR wants our wholesale customers to make the best, most informed buying and selling decisions possible,” KAR president Peter Kelly said in a news release.
“There’s a lot of data floating around out there — but it doesn’t have any real value if it’s not actionable,” Kelly continued. “We’ve distilled our insights down to several key state and national metrics to help customers determine where there is buyer demand, where there is seller inventory and which markets are the most vibrant and active at any given time.”
Through the retail data, users can tap into metrics like average days supply, vehicle listings and sales, and comparisons of 2020 and 2019 inventory levels.
The focus on the wholesale portion is on buyer engagement. It shows overall and state-by-state buyer activity against last year’s.
“Data science and analytics are the backbone of KAR Global’s progressive technology infrastructure,” KAR chief digital officer Tom Fisher said in the news release.
“By leveraging our exclusive upstream closed channel data representing 80% of North America’s off-lease inventory, our insights provide the most comprehensive picture of market activity possible,” Fisher said. “We hope the simplicity and power of these insights help our customers in the weeks, months and years to come.”
KAR updates the dashboards each week. The current set is free for visitors to access. The company plans to add supplementary tools and insights in the coming months.