Cox Automotive launches first of its kind LCV appraisal and valuation tool

Cox Automotive has launched a first-of-its-kind appraisal and valuation tool for LCVs. A question set relating to commercial vehicle specs and condition informs an accurate trade-in valuation.

The question set aligns with the new NAMA condition grading for LCVs.

Stuart Perham, CIO at Cox Automotive, said: “This is a significant development for the wholesale commercial vehicle sector, overcoming a historic challenge commercial dealers have faced: how to accurately value a vehicle that’s not physically in front of them?

“Cox Automotive operates the number one commercial vehicle remarketing and vehicle services business in the UK and is heavily invested in commercial vehicles.

“We are also experts in appraising and valuing vehicles. eVA for LCV connects these two areas to benefit our customers.”

The process factors in a greater tolerance for usage and wear characteristics, aspects unique to commercial vehicles such as load area, signwriting, racking and accessories.

Valuations are generated using Cox Automotive’s wholesale market database and third-party intelligence.

Software integrates into the online retail journey so a customer can self-serve a thorough appraisal and receive an accurate valuation.

The platform connects with a DMS to ensure data captured online feeds through to offline interactions with a customer.

Sam Panayides, sales director at Cox Automotive, said: “We know that accurate valuations build trust and support better conversion rates.

“This applies just as much to commercial vehicles as it does to cars. The buying journey for vans is no different and users expect to be able to complete numerous steps of the process online, including getting an accurate part-ex valuation.

“Dealers who can best create a true omnichannel experience will have a competitive advantage.”