Enhanced VIN spec data: Taking the guess work out of selecting optional extras

Manually uploading vehicle specifications onto your adverts is not only time consuming but can lead to errors in vehicle descriptions.

That’s why we’re excited to announce that we’re adding the function to automatically populate your adverts with manufacturer supplied data that will include all optional specifications on the vehicle.

This specification data, called enhanced VIN Spec data, will be accessible in Portal, Retail Check and Retail Accelerator and is essentially a register of the optional specification items that were added to each vehicle as they were built in the factory. The data will be seamlessly integrated into your Portal accounts, as well as our pricing and forecourt management tools, Retail Check, Bulk Retail Check and Retail Accelerator. It will also be available through your existing stock management system via our real-time data sharing solution, Auto Trader Connect.

The data is recorded and maintained by each manufacturer and shared with us so we can make it available to you.

Which brands are currently covered?

VIN Spec data is now available for the following brands :

BMW
MINI
Fiat
Abarth
Alfa Romeo
Jeep
Chrysler
Renault
Dacia
Alpine
Volvo
Ford

VIN Spec data for additional manufacturers will be added throughout the rest of this year and beyond as we continue to bring them onboard.

How does this help you?

Our analysis shows that 46% of retailer listed vehicles on our marketplace are missing more than half (54%) of their detailed specifications, meaning that there is potentially a loss of margin on each of these vehicles.

In fact, based on a sample of 52,000 vehicles advertised on our platform, we found retailers were leaving an average of £361 of unrealised margins on the table, per vehicle, as a result of missing value-adding specification. However, this can be significantly higher: in the same analysis, one premium brand model was undervalued by a massive £5,587.

To date we’ve been able to inform you on:

1. The exact standard specification a car has

2. The list of optional specification items that could have potentially been added

But without VIN Spec data, reliance has been on knowledge of a car and taking the time to manually choose from the available optional specification items. It’s this timely process that can lead to errors in vehicle descriptions.

VIN spec data solves this problem by automatically selecting the optional specification items for a car on lookup.

VIN Spec data then allows you to:

Source cars more intelligently by considering the exact optional specification of a car when deciding on suitability for your forecourt
Increase margins with more accurate pricing using precise valuations adjusted for the exact specification of each car
Save time with optional specification automatically selected on lookup. No more research and guess work
Improve consumer engagement online through better quality adverts with all optional specification details shown to buyers on your Auto Trader advert listing
Be confident that the price indicator shown to consumers fairly reflects all the optional specification your car has to offer

But don’t just take our word for it…

Scott Greensmith, Digital Partnerships Manager at Motorpoint told us that “Auto Trader’s Vin Spec data has been a great addition to Motorpoint’s merchandising toolbox. The accuracy of the specification data is spot on, it’s easy to use and a welcome addition for our team when they are listing cars and valuing part-exchanges. Being able to access this level of information means we can provide ever higher levels of vehicle specification accuracy and it provides a big benefit for our customers when they are researching and choosing the right vehicle for their budget and lifestyle.”

How does it work?

VIN Spec data has been seamlessly integrated into many of the key journeys within Portal, Retail Check and Retail Accelerator that you will already be familiar with.

This familiarity and light touch integration should ensure a quick learning curve and result in you and your fellow retailers using VIN Spec data with ease.