Auto Trader, the UK’s largest marketplace for used and new cars, has rolled out Price Indicators across all consumer platforms to assist buyers and build confidence in sellers.
As a result of the move consumers browsing the online marketplace will have an indication as to whether the total price of the car they are looking at is fair. Auto Trader believes the addition of price indicators will help encourage consumer trust and confidence in the seller.
Indicators will take the form of a label that advises customers if an advert on Auto Trader has a “Great Price,” “Good Price” or is the “Priced Low” in comparison to similar vehicles. The “Priced Low” label suggests that a vehicle is priced substantially less than its market average.
The sales platform has based its price assessments on make, model, derivative, age, mileage, appropriately adjusted for any optional extras on the car. The analysis considers approximately 500,000 trade used car listings every day, ensuring indicators are an accurate reflection of the live retail market.
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