The RedBook Insider: RedBook Launches Real-Time Used Car Valuations

When will used car prices start trending down and by how much?

This is the question on the lips of anyone and everyone that has some form of exposure to the movement in used car prices. While the answer to that question remains to be seen, what is certain is that volatility in the Australian market is here to stay and isn’t projected to be equal across all vehicle types or segments.

We all want, and maybe for some, need that most recent data to make informed decisions, and RedBook’s new Real Time Valuation (RTV) API is the perfect companion to the renowned RedBook Guide Price. The RTV API fills in that crucial detail, picking up daily market dynamics and fluctuations. Most importantly, being an API it can be integrated into internal systems, power more advanced support and decision tools.

RedBook’s RTV API utilises exclusive and authentic access to the carsales network backend data in addition to traditional wholesale channels to return a RedBook code (make/ model/ variant) level valuation. This valuation incorporates a kilometre/ margin/ condition adjusted valuation at Retail & Wholesale price types with a selection of condition parameters (from As New → Average → Poor). What also make RedBook’s RTV unique is the ability to also include/excluded factory fitted options, time to sell and confidence score rankings.

As illustrated, the dynamic nature of RTV provides the visibility and volatility, essentially a leading indicator of used value movements.

In summary, real-time valuation in the used car market enhances efficiency, fairness, and competitiveness. It allows sellers to adapt to market changes, attract potential buyers, and ensure that transactions are based on current market conditions, benefiting both buyers and sellers in the process.

To learn more about RedBook’s Real Time Valuation API please get in touch via info@redbook.com.au