Carfax in the Used Vehicle Inventory Listing Business.

Ron Henson
What are your thoughts about Carfax entering ring of used vehicle inventory listings? What type of value, if any, do you feel that they can provide above and beyond that of AutoTrader or Cars.com?
Tyler Larson
IMO Carfax Used Cars is another great tool for the evasive customer afraid of the dealership. The idea is great! Specifically sort out what want. And as a consumer's standpoint this sounds correct. 3rd Party Listing Vendors do one thing, devalue your car. If you only carry inventory that are "Carfax" No Accidents, "Carfax" Service Records, "Carfax" 1-Owner, and "Carfax" Personally Owned will this service function the right way! You still will have to win on price and miles. I've always wanted to be a Carfax Motors dealer. Carfax Motors backed Warranty with every vehicle I sell and a Carfax Motors guarantee. I mean for how many years I paid for their services I would think I would already be a Franchise Carfax Motors Store. Just kidding. I have developed a 3rd Party Listing tool idea that would swallow up all the competition. Too bad I will never invest into it. I still love to sell a vehicle!
Nicholas Fisher
I was approached by both KBB and Carfax about the same time to consider their new listing tools. My first reaction to both of them was to beat it. A couple of the other sales managers were sold on KBB as a tool but the more time I spent thinking about it, the more CarFax as a listing tool makes sense. Think about it...Cars.com and AutoTrader are a starting point but it's been my experience that Carfax is what narrows that funnel to the ultimate pick. Why not cut out the cars and autotrader searches and begin right at the source to narrow down what matters most. Interestingly enough, service records were the driving force where most of us would assume accident free is the most important to consumers. I spent the money to list our used cars with carfax and haven't had earth shattering results, but I have had some reaction and success. It's 10% the cost of Autotrader so I can't complain. I think it's at it's infancy and I feel like their strategy and advertising will make it more successful and more of a go to tool for consumers. The other win is that Carfax has stripped the interface and search results to not be cluttered by upgraded banner ads, logos, spotlights, videos, etc. etc. It'll be interesting to see where this goes. I can't think of a more successful marketing campaign than what Carfax has created. They convinced and changed an entire industry.
Ron Henson
Hey Nicholas, What optics and analytics do they offer you in terms of what filters customers are using on their site?
Nicholas Fisher
The reports that we reviewed were based on the studies and surveys CarFax conducted before launching the new listing tool. As of now, there are virtually no reports in terms of a back end tool to review optics and analytics. At month end, we are able to review number of hits, click throughs, detail page vies, map prints, things like that, but only with the CarFax rep. They were supposed to have a back end tool available last month, but I've yet to see anything.

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