Business Connexion (BCX) and TransUnion Auto have rolled out a mobile app to the motor dealer market that provides car trade and retail values to enable informed buying and selling decision-making.
TransUnion AIS produces the Auto Dealer's Guide, which reflects the market retail and trade values for every make and model of vehicle in SA.
The app converges both the market retail and trade values of each vehicle in SA, as well as verification details. According to BCX, this enables auto dealers to obtain valuations on a specific vehicle based on its individual history rather than a generic price for all vehicles of the same vintage.
The vehicle evaluation report provides red, amber and green ratings on the accident claim history, mileage and legal status. Dealers can then choose to request the full report, which is sent to a smartphone or e-mail address.
Matthew Cook, application development manager in Business Connexion's professional services division, explains that the app, which runs on all major mobile platforms, is effectively an information aggregator.
data stored on a number of remotely located databases, which are used by TransUnion Auto for its vehicle verifications and valuations. That data is then pulled together and presented to subscribers, giving them essential information that will influence their decisions about the transactions.”
Cook says that while the information has always been accessible, the app makes it intuitive and user-friendly. Dealers can obtain information by inputting the vehicle's registration number. Cook says that, until now, vehicle verification reports were based on the vehicle's VIN and engine numbers.
TransUnion Auto is the only company that delivers the relevant intellectual property and vehicle data to finance houses and insurance companies. TransUnion Auto has a record of 14 million individual vehicles in SA. It has also been a BCX customer for 14 years.
Cook points out that education and a change management exercise will be necessary to get auto dealers and consumers to trust the information provided by the app.
While the app has initially been rolled out to auto dealers across SA, Cook indicates that it will be made available to consumers later this year.
“Traditionally, BCX has been good at developing business enterprise applications, however, has not been strong at capturing the consumer market. About 18 months ago, we took a strategic decision to address the mobile applications market.”
The dealer's version of the app is currently free to use if the dealer has a TransUnion Auto Guide subscription, which costs R2 014 a year. Cook adds that it will decide at a later date on how the consumer-version app will be marketed.
According to Cook, the app is already available on the Android Marketplace and BlackBerry app store, while BCX is waiting for Apple's app store to have it approved. BCX is currently testing the app on the Windows app store.
According to TransUnion Auto CEO Mike von H"one, the application gives auto dealers access to car valuation and verification reports, including accident claims, mileage and finance history. This helps dealers decide which vehicles to take into stock, and how much to buy and sell them for.
Von H"one says the app could help reduce trade-ins of stolen vehicles: “Business Against Crime estimates that some 40% of stolen and hijacked vehicles find their way back into the market. A tool such as the app, which makes it easy for dealers and consumers to check the vehicle's pedigree before it is re-legitimised, could help reduce vehicle crime.”
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