My owner passed this (below) to me from one of his 20Groups. It came from a pretty savvy dealer. Has anyone experienced any issues with KBB not valuing packages and options the way they used to in the last couple of months? This dealer made the 20Group aware along with some examples of what they are seeing. While it may undervalue trades, it also means their retail values are low. I did send a message to my rep but she is out of office. Just wondering if anyone can verify current issues with KBB values.
"KBB has effectively been broken for over two months, and surprisingly, there hasn’t been enough industry noise around it. I encourage every dealer and operator to personally go book out a vehicle in KBB and start adding packages and options that historically added value. Many of them no longer move the needle at all. The valuations being produced right now are materially inaccurate. This is not a small issue. For many of us, it is costing tens of thousands of dollars every single day in appraisal errors, trade values, and deal structure decisions.
If you’re seeing the same thing, please reach out to your KBB representative and escalate it. The more dealers who speak up, the faster this gets addressed. This impacts the entire industry, not just individual stores."
"KBB has effectively been broken for over two months, and surprisingly, there hasn’t been enough industry noise around it. I encourage every dealer and operator to personally go book out a vehicle in KBB and start adding packages and options that historically added value. Many of them no longer move the needle at all. The valuations being produced right now are materially inaccurate. This is not a small issue. For many of us, it is costing tens of thousands of dollars every single day in appraisal errors, trade values, and deal structure decisions.
If you’re seeing the same thing, please reach out to your KBB representative and escalate it. The more dealers who speak up, the faster this gets addressed. This impacts the entire industry, not just individual stores."
