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How Data Science Drive More Profitable Used Vehicle Pricing - Cox Automotive Experience 2021 Session

It didn't used to be possible for dealers to know every used vehicle's investment, or its optimal pricing strategy. Without this knowledge, dealers typically applied a one-size-fits-all approach to pricing used vehicles. Every vehicle effectively got the same treatment—
start at a specific mark-up or Price to Market range and reduce price as the vehicle ages.

Today, with data-driven investment value insights for every vehicle, dealers can price each vehicle to optimize its return. They know the cars that need to be priced aggressively, and they know the cars that can command a higher-profit price position. Discover how dealers apply investment value insights to retail more cars and restore the profitability of their used vehicle departments. 

  • Randy Kobat, VP Inventory Management Solutions

About the Author

Randy Kobat is vice president of operations and inventory management solutions for vAuto, Rebates & Incentives, KBB ICO and related products. In this role, Randy oversees all aspects of operations and performance for these companies and segments of Cox Automotive, helping them meet their respective goals for growth, product development and integration, and customer and employee satisfaction. Randy brings a unique blend of executive leadership expertise to vAuto that includes long-term planning, marketing, mergers and acquisitions, operations, sales management, and strategy development. Prior to joining Cox Automotive, Randy successfully held a variety of top-level leadership positions for automotive-related companies including Service Repair Solutions Inc., Trilogy Enterprises and CDK. Randy has also served as a business leadership lecturer for the Smeal College of Business at Pennsylvania State University, the Wisconsin School of Business at the University of Wisconsin–Madison, and other business schools. Randy earned a Bachelor of Science in chemistry from Northern Illinois University and an MBA from The University of Chicago Booth School of Business.

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