BLACK BOOK AND AUTODATA SOLUTIONS PARTNER TO OFFER INTEGRATED AS-BUILT VALUATION SERVICE

New Service Automates VIN-Specific Decoding and Vehicle Options Adjustments

Black Book, a division of Hearst that provides industry-leading used vehicle valuation and residual value forecast solutions, announced today the integration of its vehicle valuation data with Autodata Solutions, powered by ChromeData, a leading provider of automotive technology solutions and data licensed to industry professionals. The two companies are now the first to offer an automated As-Built Valuation Service for automotive industry professionals including lenders, dealers, insurance companies and auctions.

Black Book has partnered with Autodata Solutions to integrate an As-Built Valuation Service, a webservice harnessing ChromeData’s vehicle catalog data, OEM build data and any user-entered feature descriptions to describe used vehicles. Mapped to Black Book add/deducts, As-Built Valuation Service automatically returns a more thorough and precise vehicle value for any VIN compatible with the service.

“The integrated offering automates the process of VIN-specific decoding and adjustments on vehicle options, trims, and add/deducts,” said Jared Kalfus, executive vice president of revenue for Black Book. “The ability to automate this process saves significant time for the user, ensuring even greater accuracy during the valuation process.”

The service works either from a call with a single VIN or via batch processing for large volumes of vehicles. The VIN batch processing system is a fast and easy way to process all VINs with minimal effort. All that’s required is a single VIN. Users simply upload a list of VINs with equipment descriptions (when available), then download a single result file. As-Built Valuation Service helps vehicle lenders, auctions, fleet management companies, consumer trade-in websites, inventory appraisal applications, individual dealers, rental companies and used vehicle merchandisers to automatically calculate as-built vehicle valuations, as well as the most precise lease, finance portfolio, auction and used vehicle merchandising values.

ChromeData, an Autodata Solutions brand best known for providing the most accurate and complete vehicle and OEM build data, provides access to over 30 years of data and high-quality VIN and new car, light truck and motorcycle information.

“The integration of Black Book and Autodata Solutions represents a game-changing opportunity for the industry,” said Craig Jennings, president of Autodata Solutions. “Industry professionals have had access to this data manually, but with the automation now possible through our integration, we expect to see significant benefits to valuation and profit potential.”

When processing a representative portfolio sample of 180K vehicles with As-Built Valuation Service and its utilization of OEM Build Data, ranging from multiple brands and model years, results show an adjustment of $36.4MM to the portfolio. Some examples of specific valuation adjustments in the portfolio are as follows:

  • All Chevrolet Models: $11.12MM Net Value Adjustment, $436.24 Average Net Value Adjustment per Chevrolet vehicle.
  • All Infiniti Models: $1.2MM Net Value Adjustment, $709.58 Average Net Value Adjustment per Infiniti vehicle.
  • All Jeep Models: $5.88MM Net Value Adjustment, $620.91 Average Net Value Adjustment per Jeep vehicle.
  • All Ram Models: $5.45MM Net Value Adjustment, $1,053.36 Average Net Value Adjustment per Ram vehicle.

About Autodata Solutions

Autodata Solutions is the industry-leading provider of vehicle data and content, technology and inventory merchandising solutions that power the digital automotive ecosystem. Transforming complex data into marketing and sales solutions, Autodata Solutions’ technologies enable industry partners to optimally support and promote the sale of vehicles, parts and services. For three decades, Autodata Solutions has been a trusted and proven partner to the automotive industry — providing a broad suite of solutions for OEMs, dealerships, online portals, finance/insurance companies and fleet management organizations. For more information about Autodata Solutions and its brands visit www.Autodatasolutions.com.

 

About Black Book

Black Book® is best known in the automotive industry for providing timely, independent and precise vehicle pricing information, and is available to industry-qualified users through online subscription products, mobile applications and licensing agreements. Since 1955 Black Book has continuously evolved to ensure that it achieves its goal of delivering mission-critical information to its customers, along with the insight necessary to successfully buy, sell, and lend. Black Book data is published daily by National Auto Research, a division of HEARST, and the company maintains offices in Georgia, Florida, and Maryland as well as the Canadian Black Book in Toronto. For more information, please visit BlackBook.com or call 855-371-7532.

Views: 5

Comment

You need to be a member of DealerELITE.net to add comments!

Join DealerELITE.net

Latest Activity

Dave Anderson posted a blog post

Face and Fix These Four Excuses

Excuses are common amongst underachievers, and when you're trying to live the game changer life,…See More
7 hours ago
John Sternal posted a blog post

Swapalease Data: Are Crossovers Not in Demand for Leasing?

Crossovers Not Seeing Growth in Leasing?A year ago, roughly 7.4% of drivers polled said they would…See More
11 hours ago
Jim Flint posted a blog post
12 hours ago
Jim Flint's blog post was featured

Google Ads Two Changes for Display

In this video blog, Jim Flint, CEO, and Founder of Local Search Group discusses two changes you…See More
14 hours ago
Simon Hopes posted a blog post

How to Compare Car Insurance Policies

What is Car Insurance?A car insurance is the policy that covers one’s car against all kinds of…See More
19 hours ago
Mike theCarGuy Correra posted a video

The Key to Long Term Success in Sales

Account Manager Mike Correra shares the key to a dealership's long term sales success in this video blog.
yesterday
Tom Clark posted a blog post

Reasons to Sell Your Dead Car to Car Removal Companies

Your old car just stopped working. When you called a mechanic to have a look at it, they gave you…See More
yesterday
Derek C. Dean posted a blog post

Hard skills Vs soft skills or hard skills and soft skills- which is optimal?

Soft skills and training programs for the same seem to be hogging the limelight in recent times.…See More
yesterday
Umair Amjad posted a blog post

The Perks of Using Armored Cars & Bulletproof Vehicles

Security is a prime concern for every human being. When it comes to security, then people do not…See More
Sunday
Rob Gehring posted a blog post
Friday
Scot Eisenfelder posted a video

Why the Service Write Up Is Critical

Scot Eisenfelder shares why the service write-up is critical to increased revenue in this video blog.
Friday
Jim Flint posted a blog post

Google Ads Two Changes for Display

In this video blog, Jim Flint, CEO, and Founder of Local Search Group discusses two changes you…See More
Friday
John Sternal posted blog posts
Thursday
Veronica Dunford posted a blog post
Thursday
Stephen Coambes posted a blog post
Thursday
Damian Boudreaux posted a blog post

Relationship Selling - Begin The Shift Now

Gooooooooood Morning! And thank you again for joining us in another video in the series, [name].…See More
Thursday
Steven Laureys posted a blog post
Aug 14
John Sternal posted blog posts
Aug 14
Harris Scott posted blog posts
Aug 14
Reynalda Lor posted a discussion

Roofing Option For Garage?

Greetings!We are looking for the best roofing option for our dealership garage nowadays. In the…See More
Aug 13

Get Newsletter

© 2019   Created by DealerELITE.   Powered by

Badges  |  Report an Issue  |  Terms of Service