Cycle Trader has announced the launch of their new Price Analysis Tool which gives dealers an accurate snapshot of current pricing in their local market and nationwide. Housed within the company’s Dealer Center, which recently won a spot on Powersports Business’ Nifty 50 product list, the resource will provide a wealth of valuable statistics and insight exclusively available to Cycle Trader dealers.
The launch of this groundbreaking tool represents the first time motorcycle and powersports dealers will have access to the real-time pricing insights — helping them pinpoint the median price for a model listing of a specific make and year without having to manually research and keep track of similar listings on CycleTrader.com. The platform also automatically informs a dealer of how many other listings are currently for sale of the same unit, helping to further position the price of their unit based on the current volume available in the market.
Users will be able to easily toggle between local and nationwide listings, gaining an understanding of not only their current place amongst competition in the general US marketplace, but also how their prices compare to dealers selling the same units closer to their business’ Designated Market Area.
"No other tool has provided dealers in the motorcycle and powersports industry this level of statistical acuity or depth of insight when it comes to their pricing strategy," said Paige Bouma, vice president of Cycle Trader.
Phillip Billups, the company’s vice president of Product Development, noted: "We want our customers to be as successful as possible in their business endeavors and the launch of this tool demonstrates our commitment to that, as it is yet another step we are taking to proactively provide valuable market insight."
The unique Price Analysis Tool will be available exclusively to dealers that are customers of Cycle Trader.