Big data has been a business opportunity in South Africa for decades, however, extracting and leveraging its full value is often a complex process. AutoTrader’s Car Industry Report fills the data gap.
The South African motor industry
The SA motor industry is among some of the industries that have been crippled by unstructured and incomplete data, having suffered from the ineffective collection and use of VIN data since inception.
5 years ago, we set out to create South Africa’s first ever comprehensive vehicle database that captures and organises VIN data down to feature level. Vehicle by vehicle, over 11 million VIN numbers, using over 4 million pieces of car specification metadata were cleaned and captured into our databases.
The value this Car Taxonomy wields is far-reaching and demonstrates, like never before, how big data can be leveraged to become the new capital.
This taxonomy provides benefits for both buyers & sellers. Buyers benefit from the vastly-improved search functionality that makes searching for your next car even quicker and easier. For sellers, by combining this vehicle taxonomy data with other critical information like transactional valuation data, retail price data and market supply and demand data, AutoTrader is uniquely positioned to provide live market information to its customers & the industry.
A sound proxy for demand, supply and pricing
AutoTrader has the largest audience of in-market car shoppers, coupled with having fixed South Africa’s car taxonomy challenge by building the most comprehensive and structured VIN database in the country, AutoTrader serves as a sound proxy for South Africa’s automotive market demand and supply.
As a proud supporter and contributor to the South African automotive industry, we felt compelled to produce a Car Industry Report that would enable the market to gain valuable insights into the most important factor of the South African motoring industry – car shopper consumer attention.
OEM’s and Car Dealers can benefit
OEM’s and dealers are beginning to realise that cars don’t only compete with each other based on their category, but also on the basis of where consumer attention lies. As an example, a car brand may not view another brand as a competitor, but search and demand data (consumer attention) often tells a different story.
Understanding the Attention Economy is crucial when building strategy in the South African automotive industry, no matter whether your business is a small dealership, large dealership, OEM or a group selling both used or new cars. Because the used car market in South Africa dwarfs the new car market, understanding consumer attention for used cars can play a major role in new car strategies.
I hope you enjoy reading the report as much as we enjoyed compiling it. Let’s work together to make a difference, and make the South African automotive industry even better.
Download the AutoTrader Car Industry Report here.