Press release
Kia optimises INDICATA data insights to manage its used car strategy
Kia UK has extended the contract with INDICATA to utilise its used car pricing insights platform to support its national and regional used car pricing strategies.
Four Used Car Regional Business Managers use INDICATA data to support their dealer visits, while Kia’s National Used Vehicle Sales Manager and a Used Car Data Analyst access it for market intelligence.
The aim is to use INDICATA’s data to give dealers greater confidence when pricing younger vehicles, helping maintain healthy residual values. This was particularly relevant when the Kia EV6 made its debut on the used car market, with INDICATA data being used to help Kia develop its initial pricing strategy and support ongoing residual value movements.
INDICATA is also providing Kia with continued insight, supporting used car stock management across the network and relevant price adjustments, as well as helping identify opportunities.
“We have used the INDICATA platform for the past two years and its real-time data has provided us with valuable national and local used car insights to support our used car parc,” commented Paul Williams, Kia UK’s National Used Vehicle Sales Manager.
“The data was invaluable when we launched the Kia EV6 onto the used market, as we could take a strategic view on pricing that was then adopted across the network. This set a strong foundation for the car in the market when used EVs were in relative short supply.
“Day to day, we focus on three key areas of insight to support the efficient running of our used car operation – used retail price versus cost new, as a percentage, retail and wholesale monthly price movements, and days in dealer stock,” he added.
Kia UK’s rapid new car sales growth in recent years led to an increase in used Kia cars, reaching nearly 1m in the UK market less than 10 years old. INDICATA provides a valuable source of independent used car data that is optimised at both national and local levels.
Dean Merritt, INDICATA UK’s Head of Sales, explained: “We pride ourselves on providing the best range, quality and volume of used car data in real-time in the country and we are very happy to be able to work with such a dynamic brand as Kia.”
“We are supporting Kia as it transitions towards EVs at the same time keeping it in close contact with the used petrol and diesel market as the market gradually transitions away from ICE cars,” he added.