N.A.D.A. Official Used Car Guide Company and The Reynolds and Reynolds Co. Develop Online Tool
The N.A.D.A. Official Used Car Guide Company, a recognized authority for vehicle valuations, and The Reynolds and
Reynolds Company, a dealer management systems and
services provider, have developed an online prototype with retail and
trade-in transaction data from automobile dealers. The goal of this joint
venture is to develop a tool that will provide used vehicle
market information to enhance customers' ability to make vehicle
valuation decisions that reflect the underlying market, resulting in
increased profitability.
"By leveraging our combined data resources and Franchise Dealer
relationships, we will be developing a leading edge pricing tool for many
different industry segments that manage millions of dollars in car and light
truck risk," stated Scott Lilja, executive director, N.A.D.A. Official Used
Car Guide Company. "We hope to bring additional automotive retail data and
market insight to these industries, helping them more effectively manage and
profit from their respective automotive market activities."
According to the companies, this prototype allows customers to access an online service that provides
greater market-based detail about used vehicles in specific markets. In
order to maximize the effectiveness of the data provided for the prototype,
Reynolds compiled used vehicle data from US new car franchised dealers. The
data, which consists of trade-in and retail pricing, year, make, model,
mileage and region sold, is updated weekly, giving the most current look at
activity for a specific region. The data is "anonymous and aggregated" so
that no dealership or customer information is provided, identified, or
associated with the data.
"The N.A.D.A. Official Used Car Guide Company provides valuable tools to
automotive retailers across the country," said Michael McNeil, Reynolds'
chief privacy officer and vice president of Data Services. "At a time when
cost avoidance and vehicle pricing excellence is especially important in the
auto industry, we are confident that retailers will benefit from the
information provided to them through this new product. Reynolds is extremely
pleased to partner with the N.A.D.A. Official Used Car Guide Company in the
development and delivery of this exciting on-line functionality."
The N.A.D.A. Official Used Car Guide Company and Reynolds provided unlimited
access to data for the 30-day pilot conducted in the Southeast region of the
United States. Interviews were conducted to capture comments and
suggestions. This feedback will be used in helping to finalize the product
prior to releasing it as an online service. Additional information and
announcements on this product launch will be forth coming in the First
Quarter of 2002.
About N.A.D.A. Official Used Car Guide Company
The N.A.D.A. Official Used Car Guide Company, a NADASC subsidiary, has
provided used-vehicle valuation products and services to the auto, finance,
fleet/lease, government and insurance industries since 1933. In addition to
the N.A.D.A. Official Used Car Guide, a full range of valuation services
are offered, including N.A.D.A. Guide 2000 for Windows, N.A.D.A.
e-Valuator valuation software group, various developer's tools, the
ATD/N.A.D.A. Commercial Truck Guide, AuctionNet Online, consumer and
business Web sites (nadaguides.com and nada.com/b2b), and a full line of
appraisal guides, including RV's, boats and motorcycles.
About The Reynolds and Reynolds Company
Reynolds and Reynolds, headquartered in Dayton, Ohio, is a
provider of integrated information management solutions to the automotive
retailing marketplace. The company's services include a full range of retail
and enterprise management systems, networking and support, e-business
applications, Web services, learning and consulting services, customer
relationship management solutions, document management and leasing services.
For more information, visit www.reyrey.com.
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