02:21 AM

TradeXchange gives dealers national reach

  Johannesburg, South Africa - Super Group Dealerships, a division of JSE-listed Super Group Limited, one of South Africa's major motor dealership groups, is experiencing considerable bottom-line and governance benefits as a result of its membership of TransUnion's TradeXchange solution.

That's according to Ivor Goldstein, Super Group Dealerships Manager for used car disposal, who says TradeXchange is "a great tool as it provides strict control and management of used vehicle disposals at our branches' and because it allows our dealers to market their vehicles to the widest possible range of trade buyers all around the country."

Developed and managed by TransUnion, South Africa's leading provider of information solutions for the automotive industry, TradeXchange is a perpetual online used car tender system designed to help dealers maximise trade values on vehicle disposals, improve their operational efficiencies and reduce sales lead times.  

"It also provides dealers with greater control of the entire process with inbuilt governance features including audit trails," says Mike von Hőne, CEO at TransUnion's Auto Information Solutions division. 

Goldstein says the control provided by TradeXchange is important because disposing of pre-owned vehicles to the trade often fails to realise the true value of the vehicle as individual dealers have limited means to expose the vehicles to more than a handful of trade buyers. 

"With TradeXchange, our dealers are able to reach a far wider buying market, and as a result, we can capitalise on the true value of the units and are able to move greater volume of units than would have been possible in the current market," he adds.  

Henry Quinn, Pre-owned Sales Manager at Land Rover East Rand, says his dealership has done very well on TradeXchange this year, despite the slowdown in the market. He attributes this to the fact that "every car that goes to trade from my dealership is loaded on to the TradeXchange system - it's easy to use and convenient."

"Without it, I would be sitting with many more trade vehicles than I currently have.  We are selling our units to all parts of the country," Quinn says.

The ability to reach across regional, and even provincial borders is a major benefit of TradeXchange. This is illustrated by the fact that Gauteng TradeXchange members sold 14% more vehicles than were bought by members in the province in June this year.  In Mpumalanga and North West, on the other hand, more vehicles were bought by various dealerships via TradeXchange than were sold in those provinces i.e. 89% and 45% respectively. 

In total, TradeXchange partners achieved trade profits of over R9-million in the first six months of this year from the almost 3 000 units sold.

About TransUnion 

As a global leader in information management, TransUnion creates advantages for millions of people around the world by gathering, analyzing and delivering information. For businesses, TransUnion helps improve efficiency, manage risk, reduce costs and increase revenue by delivering comprehensive data and advanced analytics and decisioning. For consumers, TransUnion provides the tools, resources and education to help manage their credit health, achieve their financial goals as well as make better informed decisions. Through these and other efforts, TransUnion is working to build stronger economies worldwide. Founded in 1968 and headquartered in Chicago, TransUnion employs more than 4,000 employees in more than 30 countries on six continents. 

TransUnion Auto Information Solutions is South Africa's leading provider of information solutions for the automotive industry.  The company was established in 2005 following the merger of motorONLINE (est. 2000), TransUnion HPI (est. 1997) and TransUnion Mead & McGrouther (est. 1960).