Key Dealership Information Highlighted on KBB’s All-New Price Advisor

“Today the car shop­ping expe­ri­ence begins online for most con­sumers, with more than 50 per­cent of all online car buy­ers vis­it­ing KBB.com dur­ing their shop­ping process. This means Kel­ley Blue Book plays a crit­i­cal role in help­ing con­sumers become more assured they are mak­ing the right deci­sions dur­ing the vehi­cle shop­ping process,” said Jared Rowe, pres­i­dent of Kel­ley Blue Book.  

The new range-based Price Advi­sor tool dis­plays three dif­fer­ent pric­ing zones for a spe­cif­ic make, mod­el and trim com­bi­na­tions: white, green and red.

• The green zone is the KBB.com® New Car Fair Mar­ket Range, which reflects cur­rent mar­ket con­di­tions for a select­ed vehi­cle with the buyer’s cho­sen options in his or her area.  The Fair Mar­ket Range is derived from a math­e­mat­i­cal mod­el that lever­ages Kel­ley Blue Book’s 87-year his­to­ry of pric­ing vehi­cles.  KBB.com’s Fair Mar­ket Range is updat­ed week­ly and aggre­gates new-car trans­ac­tion data with­in the user’s zip code, and adjusts for local mar­ket con­di­tions and sea­son­al trends.

• The white zone rep­re­sents pric­ing that falls below the Fair Mar­ket Range, typ­i­cal­ly under spe­cial cir­cum­stances, such as a retir­ing mod­el year or an unusu­al­ly com­pet­i­tive mar­ket.

• The red zone falls above the Fair Mar­ket Range, and also is con­sid­ered a spe­cial cir­cum­stance, where there could be excep­tion­al­ly low sup­ply with high demand.

“Devel­oped specif­i­cal­ly for the needs of the new-car shop­per, KBB.com’s Price Advi­sor puts a spot­light on trans­paren­cy start­ing with pric­ing, and moves across all aspects of the deal­er­ship,” said Scott Ehlers, vice pres­i­dent of prod­uct for Kel­ley Blue Book.  “It allows the con­sumer to access key infor­ma­tion from Kel­ley Blue Book’s trust­ed brand about a new car, includ­ing cur­rent pric­ing in the local mar­ket­place, and now match­es their search to rel­e­vant inven­to­ry for par­tic­i­pat­ing local fran­chise deal­ers.”

For more infor­ma­tion and news from Kel­ley Blue Book’s KBB.com, vis­it kbb.com/media.

 

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