Monday, February 4, 2008

Focus

As most of you know, we spend a great deal of time talking to you. We also squeeze in a little time listening. What we hear (during all this listening time), overwhelmingly, is that you don't want cars on the system that are old inventory.

If you want to move your old inventory – especially if you expect retail value – then iLuxCars isn't the right place for your car. In fact, what it tends to do is depress the rest of the network. The prices are simply too high for a wholesale purchase.

What you DO want – again, overwhelmingly, is Fresh Trades. So, we're focusing on that.

iLuxCars is a wholesale solution. What we do, what we focus on, are heavy cars (greater than $70K) during or directly following trade-in.

So, starting today, when you enter a car for sale on the system, you may choose either Fresh Trade or Appraisal. No more 'Dealer Inventory' transactions.

An appraisal means that we will use the system to determine a price for your vehicle based on similar transactions and market knowledge. Choose this if you don't intend to wholesale the vehicle.

A "Fresh Trade" is a vehicle that you are either trying to take in from a customer or have recently taken in on another deal. You do NOT need to own the vehicle to start this type of transaction.

This is actually a big release for us. Many changes. Simple, useful, focused changes. Here's the top 4:
  1. A new home page. You'll notice this right away. It consolidates important information about the currently trading cars, cars you are selling, and recent transactions you have made. Plus, it looks really cool.
  2. iLUXCARS Market Report! When you submit a vehicle you will now be able to see recent, comparable transactions to your car during the submission process. You can use this information to establish your wholesale target price.
  3. Less email. We've reduced the number of emails that you will receive for events that happen in the system. Email is the only reasonable way to communicate with you about the rapidly changing state of the system, but we acknowledge (reluctantly) that it probably seems a little excessive.
  4. New preferences. You can now set a maximum mileage in your account preferences. If you enter 15,000, for example, we won't send email on vehicles with more than 15,000 miles. Note that you will still be able to see and bid on ALL vehicles – you just won't get the email.

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