OEM build data and its role in today’s used-vehicle uprising
Used vehicles have become “somewhat sexy,” according to Larry Dixon, Senior Director at J.D. Power Valuation Services.
“Considering how fierce used-vehicle competition has become, it’s imperative that dealers improve the precision and accuracy of their analysis when making buying and selling decisions to merchandise their used inventory,” Dixon wrote in his recent Auto Remarketing column, Intelligent VINs in today’s used-vehicle environment. “Unfortunately, the complexity of today’s used vehicle makes realizing this imperative easier said than done. This is especially true given the new level of complexity associated with today’s vehicle content and technology.”
Up until recently, the automotive industry was largely satisfied with limited knowledge of each vehicle’s specifics, and we were perfectly content with a traditional VIN decode.
Things have changed. The need for proper vehicle descriptions is only growing stronger. Advanced Driver Assistance Systems (ADAS) include expensive features that often can’t be easily identified, and these features are becoming more and more common.
“Fortunately, this situation is changing for the better,” wrote Dixon. “Advances in data sharing, combined with innovations in data access and analytics, are making it possible to correlate vehicle-specific information in a more automated, precise fashion. As a result, dealers can capture a much more complete picture of the features and attributes of a distinct used vehicle.”
OEM build data is one such tool that Autodata Solutions offers clients who want more complete details. Using OEM build data in combination with basic catalog data, also known as price and spec data, makes for a more accurate and complete picture. On its own, build data is just a collection of manufacturing option codes that an OEM assigns to a specific VIN. But when the build data is used in conjunction with catalog data, a vehicle can be described with the exact equipment that was installed as it rolled off the production line.
Having the most OEM relationships who authorize the use of their build data within our VIN description services, the breadth and depth of Autodata Solutions’ descriptive data is unmatched in the industry.
Since the merger between Autodata Solutions and J.D. Power was announced in December, the combined entity (operating under the J.D. Power name) has been hard at work integrating resources, data and technology. The two complementary companies have joined forces to enhance their value for their clients and consumers, strengthening the global automobile industry’s ability to forecast vehicle demand and shape strategic decision making.
Above: The Auto Remarketing podcast caught up with Larry Dixon at NADA to discuss the topic.
For more on OEM build data:
800.936.8906 (Option 2)