Glyn Hopkin renews INDICATA insights platform to power its group used car operation

Glyn Hopkin has renewed its INDICATA used car insights platform subscription for another year following the positive role it has played in helping the dealer group grow its used car business over the past 18 months.

 All 50 dealer and 13 franchises have used INDICATA to value every part exchange to provide extra peace of mind during lockdown as many cars were purchased remotely via a click and collect transaction and through the group’s online sales platform.

In the first few months of the pandemic Glyn Hopkin also used INDICATA to decide which used cars to sell and which ones to retain as it kept stock levels tight during lockdown. When markets opened again in the summer it used INDICATA’s Market Days’ Supply feature to help guide dealers to buy the fastest-selling used cars to put on their forecourts.

During May 2021 INDICATA is now helping dealers come to terms with a used market that is moving so quickly that its real time pricing ensures the group’s 2,000 used car stock is priced on the forecourt correctly. In most cases this means increasing retail prices daily to ensure cars are not sold too cheaply as market demand exceeds supply.

“The INDICATA platform has proven invaluable to all our brands over the past 18 months particularly as more of our used car sales have been online,” said Sally Germain, Glyn Hopkin’s used car director.

“CAP is always a useful starting point for valuations but the real time nature of INDICATA enables each dealer to keep a close eye on the competitiveness of its stock and to be able to price it accordingly.

“When we took on our first Kia franchise early in 2020 INDICATA helped guide us as to which used cars to put on the forecourt from a brand we were still getting familiar with. By helping us price Kia part exchanges INDICATA also played its part in building our understanding of what the different cars in the Kia range are worth at different stages of their life cycle,” she added. 

The group continues to embrace the platform from the board directors down, with each franchise having its own pricing strategy. Anytime the group is offered cars on bulk deals nothing is rubber stamped until each one has been run through INDICATA.

“It’s been a good overall experience. We have also been evaluating the new equipment functionality which lets us drill down to the next level of detail to understand how influential different specification can be on certain models to then impact value. That is vital when considering the bespoke specification of many lifestyle and premium cars currently in the market,” said Germain.

“Glyn Hopkin has proven that real time used car insights are vital, equally in a fast and slow-moving market which we have experienced due to the Covid-19 pandemic. We are pleased the system is playing such a big part in the day-to-day running of the group’s used car operation,” said Jon Mitchell, INDICATA UK’s sales director.