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  1. chad.bockius

    How is COVID-19 Impacting the Used Car Market?

    Our latest research is live. We just added a detailed look at price trends across used vehicles, sliced by price band. https://www.carstory.ai/covid/ And don't forget to check the CarStory VIX - Nationally we continue to hover at a 3.5. https://www.carstory.ai/carstoryvix/
  2. chad.bockius

    How is COVID-19 Impacting the Used Car Market?

    All - we just launched a major new tracker for the used car market. It's called the CarStory VIX and measures the volatility of the used car market. Take a look here and let us know if this is helpful. Please also share any ideas on how to improve the data we're sharing. We want to help give...
  3. chad.bockius

    How is COVID-19 Impacting the Used Car Market?

    We just added a new set of reports to this page: https://www.carstory.ai/covid/ looking at the daily inflow (acquisitions) and outflow (sales) across the country and in NYC.
  4. chad.bockius

    How is COVID-19 Impacting the Used Car Market?

    Updated charts and analysis are posted: https://www.carstory.ai/covid/
  5. chad.bockius

    How is COVID-19 Impacting the Used Car Market?

    In these unprecedented times, we’re inspired by how the automotive industry is coming together to get through the crisis. People and companies around the country are doing their part to help any way they can. As a data company, one of the ways we can help is to share market trends and...
  7. chad.bockius

    A day in the life of Carvana.

    There is a lot to dig into here. Averages can be very dangerous when the spread is wide. We see this all the time in looking at what cars will sell for. Transactions might range from 15-18k but the average is 16.5. The folks on the wrong side of the average are losing and the ones on the other...
  8. chad.bockius

    Acquiring cars in 2020 & beyond - WATCH OUT!

    In the famous words of Bob Dylan, "The times, they are a-changing." Remember the good old days when customers had two ways of selling their car? They could either take it down to their local dealer or turn to Craigslist. For consumers, they were making a tradeoff, make more money or save more...
  9. chad.bockius

    Avoid the Average Inventory Metrics - Research

    I presented on this topic last week at Autovate. Here is the full video for those that couldn't attend.
  10. chad.bockius

    Clairvoy: A New Product Idea

    I just came across this article on AI-assisted decision making. It is one of the most well-written pieces I've seen in a long time. https://www.salesforce.com/blog/2017/11/why-ai-drives-better-business-decision-making.html The article does a great job explaining results from other industries...
  11. chad.bockius

    Clairvoy: A New Product Idea

    At the most basic level, machine learning and AI-based algorithms replicate what we do every day. Our minds take in a variety of information, and we try to make the best decision possible. Unfortunately, we can only synthesize so much information. We also aren't very good at looking back at past...
  13. chad.bockius

    Clairvoy: A New Product Idea

    Joe, Ryan's correct. We launched a sales prediction product late last year called CarStory Insights. We use machine learning and AI to predict when every car on a dealer's lot will sell. Your point about online engagement is spot on and Ryan's correct. We use the CarStory Market Report (which...
  14. chad.bockius

    Website tool that shows Retail Book Value on SRP/VDP

    For those interested in value reports, I have some news. We just released a major update to the CarStory Market Reports (and yes, they are still free). You can get more information here http://dealers.carstory.com/ or feel free to ping me with questions. Always happy to help.
  15. chad.bockius

    Top 30 vehicles with shortest days on market

    Troy - thanks for the note. Why don't you drop me an email directly at [email protected].
  16. chad.bockius

    Top 30 vehicles with shortest days on market

    As part of our core business we receive roughly 35M used & new units every day from dealers and aggregators. This gets de-duped down to about 7-8M unique listings. ~4M of these are used vehicles and is considered the largest & highest quality repository of active listings in the industry. Hope...
  17. chad.bockius

    Top 30 vehicles with shortest days on market

    Here is some data from New York that we analyzed. Our approach was as follows: Start with used inventory that showed up in January 2017 Average the days-on-lot by make/model Vehicles with a days-on-lot < 3 were excluded from average (we assume they went to wholesale) Make/models for which we...
  19. chad.bockius

    Vroom - vehicle equipment package display

    This is a great conversation. Here are a few additional thoughts: 1. For new cars, OEMs spend a ton on marketing the fancy packages that consumers inevitably get familiar with as they play around with different configurations to maximize the features they want for the price they can pay. Side...
  20. chad.bockius

    9 pics per vehicle??

    Thanks Jeff. Always happy to help.
  21. chad.bockius

    9 pics per vehicle??

    Great question...I wish I had the data to explore that in more depth. Analyzing leads, questions, response times and response rates across many dealers might uncover more clues. If we ever start to collect that data we will absolutely share the findings.
  22. chad.bockius

    9 pics per vehicle??

    Craig - count aside, have you ever looked at optimizing sort? I believe if you get this right, the image count won't matter as you are serving the most relevant pictures first. For the consumers that want more, they can continue. For those that are just browsing, they get what they need and can...
  23. chad.bockius

    9 pics per vehicle??

    The analysis only looked at lead conversion once someone landed on a VDP, so the SRP experience can be removed from the equation as well as any consideration of placement of the sort. While I don't have the exact price range, given the fact it was over 500K listings, you can safely assume it...
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