METRICS 101

1.

What is the difference between Price Rank and vRank?

Price Rank takes the vehicle's odometer into account when ranking the vehicle compared to its competitive set where vRank does not account for odometer

Both rankings indicate how your vehicle's features compare to your competitive set

Price Rank shows how your Price to Market percentage compares to your Cost to Market percentage. vRank does the same as price rank, but takes odometer into account.

vRank takes the vehicle's odometer into account when ranking the vehicle compared to its competitive set where Price Rank does not account for odometer

2.

What is Price to Market (PTM or % of Market)?

A comparison of the advertised price of this vehicle compared to the average price of other vehicles in your inventory

A suggested range of pricing for a vehicle based on its investment score

A comparison of your vehicle's Cost to Market as a percentage of market average price for similar vehicles

A comparison of your vehicle's advertised price as a percentage of market average price for a similar vehicle

3.

Some metrics throughout ProfitTime are marked as "Adjusted" or "Adj." What does it mean when a value is "adjusted"?

Indicates that the vehicle's Price Rank was adjusted by a manager in the dealership

Indicates that value is adjusted for the vehicle's odometer with either a penalty or bonus based on the market average

Indicates when a price was automatically adjusted either up or down per the vehicle's ProfitTime Recommendations

Indicates when a vehicle's book value has changed based on the vehicle's book out

4.

What is Cost to Market (CTM)?

How well you own the vehicle (vehicle cost) compared to Market Average Price

How your vehicle's cost compares to the cost of similar vehicles in your market

How your vehicle's cost compares to the vehicle's MMR value

How your vehicle's cost compares to NADA or Black Book values

5.

True or false: Price to Market and Cost to Market are both compared to the same Market Average Price.

True

False

6.

True or false: Market Days Supply (MDS) is the same as turn rate.

True

False

7.

What is Market Days Supply?

The number of days you've had a vehicle in your inventory and available on the market

The number of days worth of inventory that you currently have in stock

A supply and demand number that indicates the number of days it would take to sell all vehicles in the market given they continue to sell at the same rate

The number of days worth of inventory you would like to have in stock at all times

8.

What is overall Market Days Supply?

Market days supply value based on Year, Make, and Model only

Market days supply based on Year, Make, Model, and vehicle series

Market days supply for a particular make and model nationally

Market days supply for a particular OEM

9.

What is Like Mine Market Days Supply?

Market days supply for all competing dealers in your market

Market days supply based on Year, Make, and Model only

Market days supply for a selected competitor near you

Market days supply value based on the vehicle's competitive criteria

10.

What is the difference between Overall Days Supply and Like Mine Days Supply, and which one should you focus on more often?

Overall because markets can shift too rapidly sometimes for Like Mine to be an accurate representation of the supply and demand

Like Mine because it is more specific to the vehicle as it is based off market criteria that you choose