Australian car buyers value the transparency and confidence delivered by independent vehicle inspection reports, delivering big benefits to dealers selling prestige and passenger vehicles in challenging times, the latest RedBook Inspect data reveals.
Indeed, during June’s COVID-19 snap lockdown in Victoria, vehicles with a RedBook Inspect report attached to the listing;
Prestige vehicles
1. Generated more qualified enquiries
Prestige vehicles inspected by RBI received on average 617% more enquiries than non-inspected prestige vehicles*
2. Reached a broader market
Prestige vehicles inspected by RBI received on average 150% more interstate leads than non-inspected vehicles*
3. Achieved more views
Prestige vehicles inspected by RBI received on average 71% more views than non-inspected vehicles*
Passenger vehicles
1. Generated more qualified enquiries
Passenger vehicles inspected by RBI received on average 560% more enquiries than non-inspected passenger vehicles*
2. Reached a broader market
Passenger vehicles inspected by RBI received on average 667% more interstate enquiries than non-inspected vehicles*
3. Achieved more views
Passenger vehicles inspected by RBI received on average 68% more views than non-inspected vehicles*
Vehicles with a RedBook Inspect report are clearly marked on carsales.com.au with a ‘certified badge’ that’s highly visible from both the search results and detailed view pages.
Consumers can also narrow their search to only consider vehicles that have been inspected by RedBook Inspect, via the carsales search panel.
“We’re proud of the role that RedBook Inspect has played in helping dealers across the country generate more interest in their inventory, during ever-evolving trading conditions,” says Barry Freeman, CEO – RedBook Inspect.
“There’s no doubt that in challenging times, consumers considering pre-owned vehicles appreciate the trust and transparency delivered by comprehensive RedBook Inspect reports.”
With more consumers forced home due to COVID-19 lockdowns in recent months, Freeman notes the increasing reliance and influence of vehicle inspection reports in car-buying decision making.
“Assessing the condition of used vehicles can be tricky at the best of times. Additional transparency around a vehicle’s condition – especially from an independent third party – contributes to buyer confidence, especially when it’s more difficult to view cars in person,” Freeman stated.
For dealers, adding a RedBook Inspect report on an inventory item can also assist in maintaining pricing and negotiating power in a buoyant car market. Recent carsales data highlights that inventory with a RedBook Inspect report attached realises, on average, 2% higher sales margins compared to matched vehicles.
Freeman also advises dealers to focus on merchandising their inventory to maximise strong car-buying activity.
“With many Australians confined to home and spending more time online, it’s a critical time for dealers to merchandise their inventory online as effectively as possible,” says Freeman
“And best-practice merchandising includes attaching a RedBook Inspect report for every vehicle advertised for sale on carsales – giving consumers complete confidence to buy from you, and the opportunity to maximise profitability.”
* Calculated from carsales.com.au vehicle listing data for the period 28 May 2021 to 10 June 2021. Equivalent non-RBI inspected vehicles were matched for odometer readings within 10%, the same RedBook code, and build year within one year. Data does not take into account any ancillary advertising products applied to listings. “Prestige vehicles” refers to Mercedes-Benz, BMW, Audi, Lexus, Land Rover, Volvo Car, Mini, Porsche, Jaguar, Maserati, Infiniti, Ferrari, Bentley, Lamborghini, Aston Martin, McLaren, Lotus, Alpine, Morgan, and Rolls-Royce. Prior performance may not be indicative of future performance.
